…Varsity, Luxury Hotels, Factories, Mansions Uncovered
…How ‘Anti-Corruption’ Govt Became Nigeria’s Most Corrupt
…EFCC Slams Ex-AGF Malami, Son With Fresh Money Laundering Charges
By Franklin Adole
The Economic and Financial Crimes Commission (EFCC) has uncovered an astonishing trove of assets allegedly linked to Abubakar Malami, former Attorney General of the Federation and Minister of Justice under ex-President Muhammadu Buhari, with properties valued at over N212.8 billion spread across Kebbi State, Kano State, and the Federal Capital Territory (FCT), Abuja.
The revelations have reignited a fierce national debate over how an administration elected on a strong anti-corruption mantra presided over what critics now describe as the most corruption-ridden era in Nigeria’s history, with senior officials allegedly amassing vast unexplained wealth while in office.
According to the anti-graft agency, no fewer than 41 high-value properties, including a private university, luxury hotels, factories, schools, filling facilities, media outfits, and sprawling residential mansions, have been traced to Malami and members of his immediate family.
EFCC findings indicate that properties located in Kebbi State alone are valued at N162.2 billion, while assets in Kano State are worth N16 billion, and those in the FCT are estimated at N34.7 billion.
In Kebbi, Malami is allegedly linked to multiple sites associated with Rayhaan University, including a permanent campus valued at N56 billion, a temporary site worth N37.8 billion, and a third site estimated at N2.45 billion. The university’s Vice-Chancellor’s official residence is valued at N490 million.
Also traced to him are Rayhaan Model Academy, valued at N11.2 billion, and Rayhaan Primary and Secondary School, put at N8.75 billion.
Further assets include Rayhaan Agro-Allied Factory buildings worth N4.2 billion, factory machines and plant units valued at N10.5 billion, a factory mosque at N2.45 billion, and staff quarters estimated at N1.487 billion.
Other Kebbi-based properties allegedly linked to the former justice minister include Rayhaan Bustan Building valued at N3.15 billion, a printing press worth N1.05 billion, Al-Afiya Energy Tanker Garage at N2.45 billion, Amasdul Oil and Gas Limited structure valued at N1.05 billion, and Rayhaan Radio, estimated at N78.75 million.
Under the Azbir Brand, Malami is said to own Azbir Hotel, valued at N10.325 billion, a gallery worth N581 million, gardens valued at N392 million, a mosque at N252 million, Azbir Clothing worth N350 million, and Azbir Pharmacy and Supermarket valued at N175 million.
His residential holdings include Malami House, GRA, valued at N350 million; another house behind Mobil at N490 million; a residence behind a cemetery valued at N350 million; a house belonging to his son, Abdulaziz, worth N1.659 billion; and another owned by his second son, Ahbiru, valued at N2.989 billion.
Additional assets traced include the Malami Support Organisation Building valued at N210 million, Kadi Malami Foundation Building at N56 million, Rayhaan Security House worth N245.7 million, and an uncompleted three-storey complex estimated at N665 million.
In Kano State, EFCC said Malami owns Zeennoor Hotel valued at N11.2 billion, Zeennoor Mosque at N84 million, Zeennoor Old Hotel Building worth N280 million, Rayhaan Hotel Kano valued at N2.24 billion, Rayhaan Gym Kano at N1.225 billion, and his wife’s residence on Ahmadu Bello Way, estimated at N982.8 million.
In the FCT, the assets traced include a duplex on Amazon Street, Maitama, valued at N5.95 billion; Meethaq Hotel, Jabi, worth N8.4 billion; Meethaq Hotel, Maitama, valued at N12.95 billion; 42 units of bungalows at Efab Estate, estimated at N385 million; and Harmonia Hotels, Area 11, Garki, valued at N7 billion.
Meanwhile, the Federal Government, through the EFCC, has filed a 16-count money-laundering charge against Malami and his son, Abdulaziz, alleging violations of Sections 15, 18, and 21 of the Money Laundering (Prevention and Prohibition) Act.
The unfolding case has further fueled public scrutiny of the Buhari administration’s anti-corruption credentials, with critics arguing that the scale of wealth allegedly accumulated by key officials exposes a yawning gap between official rhetoric and reality.
EFCC disclosed that the total valuation of all properties traced to Malami stands at N212,892,750,000, a figure that has come to symbolise, for many Nigerians, how an avowed anti-corruption government became mired in allegations of grand corruption at the highest levels of power.