Forty-one properties, including hotels, residential buildings, lands, schools, and a printing press,valued at 212 billion have traced to former Minister of Justice bad Attorney-General of the Federation, Abubakar Malami by the Economic and Financial Crimes Commission, EFCC.
The assets are spread across Kebbi, Kano, states and the Federal Capital Territory, FCT, Abuja.
Properties in Kebbi State alone are valued at N162.2 billion, while those in Kano State are worth N16 billion, and the FCT properties are estimated at N34.7 billion.
In Kebbi, Malami owns several sites linked to Rayhaan University, including the permanent site valued at N56 billion, the temporary site at N37.8 billion, and a third site worth N2.45 billion.
The university’s Vice-Chancellor’s house is valued at N490 million, while the Rayhaan Model Academy and Rayhaan Primary and Secondary School are worth N11.2 billion and N8.75 billion respectively.
The former minister also owns the Rayhaan Agro-Allied Factory buildings valued at N4.2 billion, factory machines and plant units at N10.5 billion, a factory mosque at N2.45 billion, and staff quarters at N1.487 billion.
Additional assets include the Rayhaan Bustan Building at N3.15 billion, a printing press at N1.05 billion, Al-Afiya Energy Tanker Garage at N2.45 billion, and Amasdul Oil and Gas Limited structure at N1.05 billion. He also owns Rayhaan Radio, valued at N78.75 million.
Malami’s Azbir Brand properties in Kebbi include Azbir Hotel worth N10.325 billion, a gallery valued at N581 million, gardens valued at N392 million, a mosque which cost is set at N252 million, Azbir Clothing valued N350 million, and Azbir Pharmacy and Supermarket, N175 million.
His residential holdings include Malami House, GRA valued at N350 million, another house behind Mobil at N490 million, a residence behind a cemetery at N350 million, his son Abdulaziz’s house at N1.659 billion, and his second son Ahbiru’s house at N2.989 billion.
Additional properties include the Malami Support Organization building, N210 million; Kadi Malami Foundation building, N56 million; Rayhaan Security House, N245.7 million, and an uncompleted three-storey complex valued at N665 million.
In Kano, Malami owns Zeennoor Hotel valued at N11.2 billion, Zeennoor Mosque, N84 million, Zeennoor Old Hotel Building, N280 million; Rayhaan Hotel Kano, N2.24 billion; Rayhaan Gym Kano, N1.225 billion, and his wife’s house on Ahmadu Bello Way, N982.8 million.
In the FCT, his properties include a duplex at Amazon Street, Maitama, worth N5.95 billion, Meethaq Hotel branches in Jabi and Maitama valued at N8.4 billion and N12.95 billion respectively, 42 units of bungalows at Efab Estate worth N385 million, and Harmonia Hotels in Area 11, Garki, valued at N7 billion.
Meanwhile, the Federal Government has filed a 16-count money laundering charge against Malami and his son Abdulaziz, alleging violations of Sections 15, 18, and 21 of the Money Laundering (Prevention and Prohibition) Act.
The total valuation of all the properties traced to Malami stands at N212,892,750,000
