An Economic and Financial Crimes Commission (EFCC) witness, David Ajoma, on Friday told the Federal High Court in Abuja that former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, was not involved in any of the transactions conducted by Rayhan Hotels and Metropolitan Autotech Limited through Sterling Bank.
Ajoma, a compliance officer with Sterling Bank, testified that Abdulaziz Malami was the sole signatory to the Rayhan Hotels account, while Aliyu Mohammed served as a signatory to the account of Metropolitan Autotech Limited.
He read out names and identities of those who made the payments while being led in evidence by counsel to EFCC, Jibrin Okutepa SAN.
While reading through the bank statements of the Rayhan Hotels and Metropolitan Autotech Limited with Sterling Bank and the opening packages, the witness said Malami’s name was not in the account opening packages, and also not as signatories to them.
He made the clarifications during cross-examination by the lead lawyer to the three defendants, Joseph Daudu SAN.
Ajoma, who appeared as the first prosecution witness in the ongoing ₦8.7 billion money laundering trial, also informed the court that the former AGF was neither a signatory nor involved in transactions conducted through the companies’ accounts.
He told the court that Malami’s name did not appear in the account opening documents of Rayhan Hotels and Metropolitan Autotech Limited.
According to him, neither the former minister nor his wife, Hajia Bashir Asabe, was involved in any of the transactions recorded in the accounts.
Testifying before Justice Joyce Abdulmalik, Ajoma tendered a 214-page bank statement detailing inflows and outflows from the companies’ accounts. The documents were admitted as evidence and marked “Exhibit A Series”.
Malami’s Son Applied for Sterling Bank loan to Facilitate Hotel Business
The witness explained that the bank records showed several payments amounting to millions of naira made into the accounts by various individuals and corporate bodies at different times.
He further disclosed that Abdulaziz Malami, in his capacity as Managing Director of Rayhan Hotels, applied to Sterling Bank for a ₦500 million loan facility.
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Ajoma added that none of the payments into the accounts originated from the Federal Ministry of Justice, the EFCC, the National Human Rights Commission, or any agency that operated under Malami during his tenure as Attorney-General.
Ajoma, who claimed to have earlier worked with Access Bank, said that Sterling Bank did not make a report of suspicious transactions to either EFCC or Nigeria Finance Intelligence Unit (NFIU) because none of the transactions breached the rules of the Central Bank of Nigeria (CBN).
Bail Granted to Malami, Son, Wife
Meanwhile, Justice Abdulmalik granted bail to the former AGF, his son, and wife in the sum of ₦200 million each pending trial on the alleged ₦8.7 billion money laundering charges.
Malami, his son Abdulaziz, and his wife, Hajia Bashir Asabe, who are standing trial on a 16-count charge, were each ordered to produce two sureties in like sum.
The court ruled that the sureties must own developed landed properties in either Maitama or Asokoro in Abuja. The property documents are to be verified by the Deputy Chief Registrar of the court, while the sureties must also depose to affidavits of means.
The defendants were directed to deposit their travel documents with the court and must not leave the country without court permission. They were also ordered to submit two recent passport photographs each.
Pending the perfection of their bail conditions, Malami and his son were ordered remanded in Kuje Correctional Centre, while his wife was to be held at the Suleja Correctional Centre in Niger State.
Charges Against the Defendants
The EFCC alleged that Malami, his son, and his wife conspired to conceal proceeds of unlawful activities amounting to over ₦8.7 billion between 2015 and 2025.
According to the commission, the funds were allegedly laundered through bank accounts and corporate entities and used to acquire properties in Abuja, Kebbi, Kano and other locations.
In one of the charges, the EFCC alleged that Malami and his son procured Metropolitan Autotech Limited to conceal ₦1.014 billion in a Sterling Bank account, contrary to provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The defendants were also accused of using Rahamaniyya Properties Limited to conceal N500 million used to purchase a luxury duplex on Amazon Street in Maitama, Abuja.
Other counts alleged that the defendants concealed ₦700 million used to acquire a property at No.3 Onitsha Crescent, Garki, Abuja, and ₦850 million for another property at Plot 683 in the Jabi District of the Federal Capital Territory.
Additional charges included the alleged concealment of ₦430 million for a property at No. 3 Rhine Street, Maitama, and ₦210 million for another property in Asokoro, as well as several other transactions involving hundreds of millions of naira between 2015 and 2024.
The three defendants, however, pleaded not guilty to all the charges.
Trial to Begin March 16
Justice Abdulmalik adjourned the case until March 16 for the continuation of the trial and for a witness from Union Bank of Nigeria to testify.
The EFCC’s prosecution team is led by Senior Advocate of Nigeria, Jibrin Okutepa, while Joseph Daudu (SAN) represents the defendants.
The defendants were initially arraigned on December 30, 2025, before Justice Emeka Nwite during the court’s vacation period.
After the vacation, the Chief Judge of the Federal High Court reassigned the case, which was eventually transferred to Justice Abdulmalik for hearing.
Justice Emeka Nwite had on January 7 granted Malami, his wife, and son bail in the sum of ₦500 million each, with stringent conditions, including the submission of landed property documents and travel passports.
However, EFCC counsel, Jibrin Okutepa (SAN), while confirming that the previous bail had indeed been granted and perfected, maintained that the matter before Justice Abdulmalik was distinct following the termination of earlier proceedings.
Justice Abdulmalik held that the proceedings before Justice Nwite had been legally terminated and that the defendants must file fresh bail applications.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.
