Legal
Court orders final forfeiture of 48 properties recovered from Malami (FULL LIST & PHOTOS)
Mr Malami and others’ objection to EFCC’s request for an order of final forfeiture, tje judge held that the issue before the court was not “who owns the property, but how legitimate are the funds used to acquire the properties.”
The Federal High Court in Abuja on Wednesday ordered the final forfeiture of 48 properties linked to former Attorney General of the Federation and Minister of Justice, Abubakar Malami.
Judge Joyce Abdulmalik granted the forfeiture application by the Economic and Financial Crimes Commission (EFCC), holding that Mr Malami and others laying claim to the assets failed to prove they lawfully acquired them.
The properties, worth N180.4 billion, by PREMIUM TIMES’ calculation based on the values the EFCC attached to each, include hotels, a university, malls, corporate entities, residential houses scattered in Abuja, Kaduna, Kano and Birnin-Kebbi, the capital of Kebbi State from where Mr Malami hails.
However, Judge Abdulmalik released only nine out of the 57 assets the EFCC presented for final forfeiture.EFCC instituted forfeiture proceedings in January against 57 assets worth more than N212 billion, alleging Mr Malami acquired them with proceeds of unlawful activities while serving as AGF between 2015 and 2023.
The court, presided over by another judge, issued an interim forfeiture order against all 57 properties in January.
Mr Malami and 14 others – including his family members, his university, hotels and corporate entities affected by the ruling – filed processes to challenge the interim order, maintaining that they had legitimately acquired the assets.
The former minister’s family members among the challengers are his sons, Abdulaziz and Abiru, and his wife, Ms Bashir.
The challengers also include Rayhaan Bustan and Agro Allied Ltd, Moutain View Gold and Jewellery Ltd, Amasdul Oil and Gas Limited, Azbir Arena Nigeria Ltd, Meethaq Hotels Ltd, Rayhaan University Ltd/GTE, Rayhaan Hotels Ltd and Zeenoor Hotels Ltd.
EFCC instituted forfeiture proceedings in January against 57 assets worth more than N212 billion, alleging Mr Malami acquired them with proceeds of unlawful activities while serving as AGF between 2015 and 2023.
The court, presided over by another judge, issued an interim forfeiture order against all 57 properties in January.
Mr Malami and 14 others – including his family members, his university, hotels and corporate entities affected by the ruling – filed processes to challenge the interim order, maintaining that they had legitimately acquired the assets.
The former minister’s family members among the challengers are his sons, Abdulaziz and Abiru, and his wife, Ms Bashir.
The challengers also include Rayhaan Bustan and Agro Allied Ltd, Moutain View Gold and Jewellery Ltd, Amasdul Oil and Gas Limited, Azbir Arena Nigeria Ltd, Meethaq Hotels Ltd, Rayhaan University Ltd/GTE, Rayhaan Hotels Ltd and Zeenoor Hotels Ltd.
The rest are Kwasar Ben of Brahim, Mutkataka Usman Junju and Real Edge Agro Services.
