The Federal High Court in Abuja has scheduled July 6, 2026, for judgment in the forfeiture suit filed by the Economic and Financial Crimes Commission (EFCC) against 57 properties linked to former Attorney-General of the Federation, Abubakar Malami. Justice Joyce Abdulmalik fixed the date after counsel to the EFCC, Jibrin Okutepa, SAN, and lawyers representing Malami and other respondents adopted their respective processes and presented arguments for and against the application.
The anti-graft agency is seeking the final forfeiture of the properties, alleging that they are reasonably suspected to be proceeds of unlawful activities. Arguing the motion on Tuesday, EFCC counsel Jibrin Okutepa told the court that the application, filed in February, was backed by a 47-paragraph affidavit and 46 exhibits. He described the motion as being contained in three volumes and urged the court to grant the reliefs sought by the commission.
Counsel to Malami and the other respondents, Adedayo Adedeji, opposed the application and asked the court to set aside the interim forfeiture order earlier granted. Adedeji told the court that the respondents’ application, filed on February 27 and supported by a 109-paragraph affidavit deposed to by Malami himself, was intended to show cause why the final forfeiture request should not succeed. According to him, the EFCC failed to provide concrete evidence linking the properties to criminal proceeds and merely relied on suspicion.
The defence further argued that the prosecution relied heavily on extra-judicial statements that would ordinarily require cross-examination in a criminal trial before being admitted as credible evidence. The forfeiture proceedings are connected to an ongoing N8.7 billion money laundering trial involving Abubakar Malami, his wife, Asabe Rakiya Bashir, and his son, Abubakar Abdulaziz Malami. In January, Justice Emeka Nwite of the Federal High Court in Abuja granted the trio bail in the sum of N1.5 billion after they were arraigned on allegations bordering on money laundering. The defendants had pleaded not guilty to the charges before being remanded in custody pending the court’s ruling on their bail applications.
Adedeji maintained that the matter could not be properly determined without oral testimony, noting that the court had earlier declined to allow oral evidence in the proceedings. Other counsel representing individuals and corporate entities linked to the matter also asked the court to dismiss the forfeiture application. Meanwhile, developments such as the Naira hitting a four-week low against major currencies have drawn attention to broader economic concerns, while Obi accuses Ecowas of inaction on regional security issues. The Guinea-Bissau incident not being fully resolved has raised questions about stability, and another ambush tax policy has sparked debate among business owners. Ecowas moves cut trade barriers to address these challenges, though implementation remains uneven across member states.
