A prosecution witness on Friday narrated before the Federal High Court in Abuja how millions of naira from various individuals and companies were paid into an account used to service a loan facility linked to a hotel allegedly owned by former Attorney-General of the Federation, Abubakar Malami.
The testimony came during the ongoing trial of Malami, his wife Hajia Bashir Asabe, and their son Abubakar Abdulaziz Malami before Justice Joyce Abdulmalik. The trio are being prosecuted by the Economic and Financial Crimes Commission (EFCC) on an amended 16-count charge bordering on conspiracy, procurement, concealment and laundering of alleged unlawful proceeds amounting to ₦8.71 billion, contrary to provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
At the resumed hearing, prosecution counsel J.S. Okutepa, SAN, informed the court that the matter was scheduled for motions and hearing and that two witnesses were available to testify.
The first witness, David Ajoma, a compliance officer with Sterling Bank, told the court that his office received a letter from the EFCC on December 22, 2025 requesting documents relating to Rayhaan Hotels Limited and a loan facility secured through Metropolitan Auto Tech Limited, which served as collateral.
Ajoma confirmed that the documents before the court were the same materials his bank submitted to the anti-graft agency. The prosecution subsequently tendered the letter and accompanying financial records as evidence. Although defence counsel J.B. Daudu, SAN, reserved his objection, Justice Abdulmalik admitted the documents and marked them as Exhibit A series.
Reading from the exhibit, the witness said Abubakar Abdulaziz Malami, a director of Rayhaan Hotels Limited, applied for a loan facility of ₦600 million in February 2021 using a fixed deposit in the account of Metropolitan Auto Tech Limited as collateral.
Ajoma told the court that the deposit backing the facility was created on February 8, 2021, adding that the account had earlier received multiple inflows from various individuals and corporate entities beginning in September 2020.
He listed several deposits, including ₦3 million transfers from individuals such as Alhaji Ibrahim and Yusuf Umar, as well as larger payments from entities including Hussaini Jajaye Rogo Enterprises, Brown Tech Integrated Services Limited, Albadawee Integrated Farms, Nasabuwa General Enterprises, Yawale Global Concept and Danyaro Group.
According to the witness, numerous deposits—ranging from a few hundred thousand naira to several millions—were made into the account over several months by individuals and companies.
Ajoma further testified that a credit entry of ₦500 million was recorded in the account of Rayhaan Hotels Limited on March 17, 2021, representing the loan facility granted by the bank.
He also told the court that Rayhaan Hotels Limited and Metropolitan Auto Tech Limited operate separate accounts, noting that the account opening documents showed Abubakar Abdulaziz Malami as signatory for Rayhaan Hotels Limited, while Hassan Aliyu Mohammed was listed as signatory for Metropolitan Auto Tech Limited.
During cross-examination, Daudu asked the witness about his professional experience and whether he observed suspicious transactions in the accounts presented in the exhibit. Ajoma replied that he had worked three years in the compliance department of Sterling Bank and previously served as a relationship officer with Access Bank, giving him about eight years of banking experience.
However, he said he could not confirm whether any suspicious transactions were identified or whether a Suspicious Transaction Report had been filed regarding the accounts.
Following the cross-examination, the witness was discharged.
The prosecution informed the court that another witness from Union Bank of Nigeria was present but could not testify immediately because the statement filed was incomplete.
The defence later filed an application seeking bail for the defendants. Although the prosecution did not oppose the request, it urged the court to impose conditions ensuring the defendants’ continued appearance during the trial.
In her ruling, Justice Abdulmalik granted the three defendants bail in the sum of ₦200 million each, with two sureties in like sum.
The court also directed that the sureties must provide developed properties located in the highbrow Asokoro and Maitama districts of Abuja as part of the bail conditions. The defendants were further ordered to surrender their international passports.
Pending the fulfilment of the bail conditions, the court ordered that the defendants be remanded at the Kuje Correctional Centre and the Suleja Correctional Centre.
The case was subsequently adjourned to March 16, 2026 for continuation of trial.
