Malami’s Son is Sole Signatory for Rayhan Hotels Account, Says Witness
By 𝔸bdulrazak Tomiwa
An Economic and Financial Crimes Commission, EFCC witness, David Ajoma, has identified Abdulaziz Abubakar Malami, the son of former Justice Minister Abubakar Malami, as the owner of Rayhan Hotels.
During the trial on Friday, the witness revealed that Abdulaziz is also the sole signatory to the hotel’s Sterling Bank account.
The hotel, situated in Kebbi State, is among the luxury properties recently seized from the Malami family by the anti-graft agency. This testimony was part of a larger 16-count money laundering case involving ₦8.7 billion against the former minister and his relatives.
The witness, a compliance officer at Sterling Bank, submitted a 214-page document detailing various financial transactions. These records, now admitted as exhibits, show millions of naira flowing into accounts linked to the Malami family.
Importantly, Ajoma stated that the former Attorney General, Abubakar Malami, was not personally involved in the hotel’s bank transactions. He noted that Malami’s name did not appear in the account opening documents or as a signatory.
Regarding the financial oversight, Ajoma testified, “Sterling Bank did not make report of suspicious transactions to either EFCC or Nigeria Finance Intelligence Unit, NFIU, because none of the transactions breached the rules of the Central Bank of Nigeria, CBN.”
Evidence presented showed that Abdulaziz Abubakar Malami applied for a ₦500 million loan facility in his capacity as the Managing Director of Rayhan Hotels. The witness clarified that he was unaware of the specific purpose for many of the payments received.
The EFCC alleges that the funds in question were proceeds of unlawful activities used to buy properties in Abuja, Kebbi, and Kano. The defendants, including Malami’s wife, Hajia Bashir Asabe, have all pleaded not guilty to the charges.
Justice Joyce Abdulmalik has adjourned the trial until March 16, when an official from Union Bank is expected to testify. The case continues to examine financial activities carried out between 2015 and 2025.
