Malami's Transactions Flagged in Money Laundering Trial

On Wednesday, October 25, 2023, former Attorney General and Minister of Justice Abubakar Malami appeared in the Federal High Court in Abuja, where Zenith Bank filed a suspicious transaction report concerning his accounts. Compliance officer Mashelia Arhyel Bata testified before Justice Joyce Abdulmalik, revealing that the Economic and Financial Crimes Commission (EFCC) is prosecuting Malami alongside his wife, Hajia Bashir Asab, and son, Abubakar Abdulaziz Malami, on 16 counts of conspiracy, concealment, and laundering of alleged proceeds from unlawful activities amounting to ₦8,713,923,759.49.

During cross-examination by defense counsel Adebayo Adedeji, it was confirmed that the deposit account statements adhered to Central Bank of Nigeria guidelines. The prosecution sought clarification on the suspicious transaction report, which led to a brief dispute over the witness's testimony.

Justice Abdulmalik overruled the defense's objections, allowing the prosecution to question the witness further. The court was informed that the Nigerian Financial Intelligence Unit (NFIU) analyzes and disseminates financial intelligence related to money laundering and terrorism financing.

The matter was adjourned until May 22 for further proceedings.