Abubakar Malami Granted Bail in N9 Billion Money Laundering Case
Analysis based on 50 articles · First reported Feb 27, 2026 · Last updated Mar 06, 2026
The granting of bail to Abubakar Malami and his family may slightly ease immediate political uncertainty but the ongoing money laundering trial could still impact investor confidence in Nigeria's anti-corruption efforts. The involvement of Sterling Bank in the alleged transactions could lead to increased scrutiny on the financial sector.
The Nigeria===Federal High Court of Nigeria in Abuja granted bail to Abubakar Malami, the immediate past Attorney-General of the Federation, his son Abdulaziz Malami, and wife Asabe Vilita Bashir, who are facing money laundering charges. Justice Joyce Abdulmalik set bail at N200 million each with two sureties and ordered the surrender of international passports. The Nigeria===Economic and Financial Crimes Commission (EFCC) alleges that Abubakar Malami and his co-defendants laundered approximately N9 billion, using entities like Metropolitan Auto Tech Limited to conceal funds in Sterling Bank accounts. The case has been adjourned to March 16 for trial commencement. Abubakar Malami also faces separate charges of terrorism financing and illegal possession of firearms.
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