Court orders interim forfeiture of 57 properties worth over N213bn ‘linked’ to Malami

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A federal high court in Abuja has ordered the interim forfeiture of 57 properties suspected to be proceeds of unlawful activities allegedly linked to Abubakar Malami, former attorney-general of the federation (AGF), and two of his sons, Abdulaziz Malami and Abiru Rahman Malami.

According to the Economic and Financial Crimes Commission (EFCC), the properties are valued at N213, 234,120,000.

Emeka Nwite, the presiding judge, granted the order on Tuesday after an exparte application filed by the EFCC, through its counsel, Ekele Iheanacho.

In the ruling, the judge held that the properties, were reasonably suspected to have been acquired with proceeds of unlawful activities and should be temporarily forfeited to the federal government.

“It is hereby ordered that an interim order of this Honourable court is hereby made forfeiting to the Federal Government of Nigeria the properties described in Schedule 1 below, which are reasonably suspected to be proceeds of unlawful activities,” the judged ruled.

He also directed the EFCC to publish the interim forfeiture order in a national daily newspaper, inviting any individual or organisation with an interest in the assets to appear before the court within 14 days and show cause why a final forfeiture order should not be made.

Nwite adjourned the matter to January 27 for a report on compliance with the publication order. Some of the assets listed for interim forfeiture, are,

A luxury duplex on Amazon Street, Maitama, Abuja, acquired in December 2022 for N500 million and later enhanced to an estimated value of N5.95 billion.

A two-winged storey building at Onitsha Crescent, Garki, Abuja — formerly Harmonia Hotels — purchased in December 2018 for N7 billion.

A five-storey building on Plot 683, Jabi District, Abuja, now operating as Meethaq Hotels with 53 rooms and suites, bought at carcass level in September 2020 for N850 million, with an additional N300 million paid to take possession. The property was valued at N8.4 billion after completion.

A terrace property at Cadastral Zone A04, Asokoro District, Abuja, acquired in January 2021 for N360 million.

A hotel facility at Rhine Street, Maitama, Abuja, operating as Meethaq Hotels with 15 rooms, purchased in February 2018 for N430 million and later rehabilitated to a current estimated value of N12.95 billion.