Nigerian Govt. Forfeits 42 Properties Linked to Malami
The Nigerian government has officially forfeited 42 properties associated with former Attorney General Abubakar Malami, as part of an ongoing investigation into financial misconduct. The properties, valued at over N60 billion, include a luxury duplex on Amazon Street in Maitama, Abuja, purchased in December 2022 for N500 million, and two wings of a former hotel in Garki, Abuja, acquired for N7 billion in December 2018.
Other notable properties include a five-storey hotel in Jabi District, Abuja, purchased for N850 million in September 2020, and various residential and commercial buildings across Abuja, Kano, and Kebbi. The acquisitions span from 2016 to 2023, with significant investments made in real estate, including a total of N12.95 billion for the rehabilitation of a hotel.
The Economic and Financial Crimes Commission (EFCC) is overseeing the forfeiture process as part of efforts to combat corruption in Nigeria.
Plus234Feed summary based on reporting from Ripples Nigeria. Read the original report below.
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