Summary:
In a landmark ruling, the Federal High Court has ordered the temporary forfeiture of a sprawling real estate portfolio valued at over N200 billion linked to former Justice Minister Abubakar Malami and his sons, marking a significant escalation in the EFCC’s asset recovery efforts.
The anti-corruption landscape in Nigeria witnessed a seismic shift on Tuesday as the Federal High Court in Abuja granted an order for the interim forfeiture of a vast collection of assets suspected to be proceeds of crime. The properties, with a staggering cumulative value of N213.2 billion, are linked to the immediate past Attorney-General of the Federation, Abubakar Malami (SAN), and his two sons, Abdulaziz and Abiru-Rahman.
Presiding over the case, Justice Emeka Nwite delivered the ruling following an ex-parte motion filed by the Economic and Financial Crimes Commission (EFCC) through its counsel, Ekele Iheanacho (SAN). The court was persuaded by the evidence presented, which suggested that the 57 listed properties were acquired through unlawful activities.
A Sprawling Empire of Assets
The forfeited assets paint a picture of immense wealth, scattered across strategic locations in Abuja, Kebbi, Kano, and Kaduna States. The portfolio is not limited to residential buildings but encompasses a wide array of commercial and institutional investments.
Prominent among the seized assets are the Rayhaan University buildings, extensive agro-allied factories, pharmaceutical outlets, and multiple oil and gas filling stations. The list also features high-end hospitality establishments, including the luxurious Meethaq Hotels in Jabi and Maitama, and the Harmonia Hotels in Garki, Abuja.
Residential properties involved in the forfeiture are situated in Nigeria’s most expensive real estate corridors. These include a luxury duplex on Amazon Street in Maitama, valued at nearly N6 billion after enhancements, and various terrace houses in the upscale Asokoro District.
The Judicial Ultimatum
Justice Nwite has mandated the publication of the interim order in national dailies. This directive serves as a 14-day ultimatum for any interested parties to appear before the court and show cause why these assets should not undergo a final forfeiture to the Federal Government.
The case, which has drawn significant public attention due to Malami’s former position as the country’s chief law officer, has been adjourned until January 27, 2026, for a report on compliance. This development runs parallel to an ongoing money laundering trial where Malami, his wife, and son are facing charges involving N8.7 billion.