Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
A Federal High Court in Abuja has ordered the final forfeiture of 48 properties linked to former Nigerian Attorney-General and Justice Minister Abubakar Malami after determining that the assets were reasonably suspected to be proceeds of crime. The ruling follows an application by the Economic and Financial Crimes Commission (EFCC), which is prosecuting Malami on money laundering and conspiracy charges involving billions of naira. The forfeited portfolio includes residential, educational and industrial assets located across Nigeria, with the court noting that no successful challenge to the interim forfeiture order was filed within the prescribed period.
A Federal High Court in Abuja has ordered the final forfeiture of 48 properties linked to former Nigerian Attorney-General and Justice Minister Abubakar Malami to the Federal Government after concluding that the assets were reasonably suspected to have been acquired through illicit means. The ruling, delivered on Wednesday, followed proceedings initiated by Nigeria's Economic and Financial Crimes Commission (EFCC), which sought permanent forfeiture of the properties as part of an ongoing money laundering investigation.
Justice Joyce Abdulmalik ruled that the EFCC had established sufficient grounds to show that the assets were reasonably suspected to represent proceeds of crime rather than property acquired through lawful income. The decision converted an earlier interim forfeiture order into a final order after the statutory period for objections expired without a successful challenge.
Malami, who served as Nigeria's Attorney-General and Minister of Justice between 2015 and 2023, is currently facing 16 criminal charges filed by the EFCC. The charges relate to alleged money laundering and conspiracy involving billions of naira. Court records show that he has previously entered pleas of not guilty to all charges.
The court had issued an interim forfeiture order earlier this month, allowing any interested parties 14 days to present evidence explaining why the identified assets should not be permanently forfeited to the government. According to the court documents, that period expired on Tuesday without resulting in an order preventing the final forfeiture.
The assets covered by the ruling comprise a diverse real estate portfolio spread across different parts of Nigeria. Among the listed properties are a luxury duplex in Abuja, a university campus, an agro-allied factory and several other properties located in northern Nigeria. The court documents did not disclose the individual valuation of the assets.
The forfeiture forms part of the EFCC's broader efforts to recover assets allegedly linked to financial crimes. Under Nigerian law, courts may order the permanent forfeiture of assets where investigative authorities demonstrate that they are reasonably suspected to have been derived from unlawful activities and no successful legal challenge is sustained during the forfeiture process.
The criminal proceedings against Malami remain separate from the forfeiture action and continue before the relevant court. He has denied the allegations by pleading not guilty to the charges brought against him by the anti-graft agency.
Source - Reuters
Advertisement
Facebook
Whatsapp
