THE Economic and Financial Crimes Commission (EFCC) has reportedly traced 41 high-value properties to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), and his son, Abdulaziz Malami, in what appears to be one of the most extensive asset trails linked to a former top government official.
News Point Nigeria reports that the properties comprising universities, hotels, schools, factories, residential buildings, commercial facilities, farmlands, and undeveloped lands—are spread across Kebbi State, Kano State, and the Federal Capital Territory (FCT), Abuja, with a combined estimated value of ₦212.89 billion.
According to documents obtained by this newspaper , the revelations emerged amid ongoing EFCC investigations into alleged financial misconduct, following coordinated searches carried out by operatives of the anti-graft agency at Malami’s homes and offices in Abuja and Kebbi State on December 17.
The EFCC document indicates that Kebbi State accounts for the bulk of the assets, valued at ₦162.19 billion, while properties in Kano State are estimated at ₦16.01 billion, and those located in the FCT are valued at ₦34.69 billion.
In Kebbi, the properties are largely linked to the Rayhaan and Azbir brands, spanning education, hospitality, agriculture, energy, media, and residential developments.
Among the most valuable assets are:
- Rayhaan University Permanent Site – ₦56 billion
- Rayhaan University Temporary Site – ₦37.8 billion
- Rayhaan Model Academy – ₦11.2 billion
- Rayhaan Primary and Secondary School – ₦8.75 billion
- Azbir Hotel – ₦10.33 billion
Also listed are agro-allied factories, industrial machinery, staff quarters, a printing press, oil and gas facilities, radio station, luxury residences, and properties allegedly owned by Malami’s children, including houses valued at nearly ₦5 billion combined.
The EFCC document further lists buildings linked to foundations and political support organisations, as well as an uncompleted three-storey commercial complex.
In Kano State, the assets are concentrated in hospitality and residential holdings, including:
- Zeennoor Hotel – ₦11.2 billion
- Rayhaan Hotel Kano – ₦2.24 billion
- Rayhaan Gym Kano – ₦1.23 billion
- Luxury residence on Ahmadu Bello Way – ₦982.8 million
The FCT properties include luxury duplexes, hotels, and mass housing units in some of Abuja’s most exclusive districts:
• Meethaq Hotel, Maitama – ₦12.95 billion
• Meethaq Hotel, Jabi – ₦8.4 billion
• Harmonia Hotels, Area 11, Garki – ₦7 billion
• Duplex in Maitama – ₦5.95 billion
• 42 housing units at Efab Estate – ₦385 million
While the EFCC is yet to formally file charges or secure forfeiture orders, sources familiar with the investigation say the asset tracing is part of a broader probe into alleged abuse of office, money laundering, and illicit enrichment during Malami’s tenure as Nigeria’s chief law officer.
Neither Malami nor his representatives have publicly responded to the asset list as of the time of filing this report. The EFCC also declined to comment officially, citing the sensitivity of ongoing investigations.