Inside The ₦8.7bn Case: EFCC Witness Reveals Financial Links To Malami-Associated Company

A prosecution witness on Tuesday detailed a series of high-value financial transactions linked to the account of Alkausar Farm, a company alleged to be connected to the ongoing ₦8.7 billion money laundering case involving former Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN).....KINDLY READ THE FULL STORY HERE▶

The witness, Munawwarah Salisu Anas, a Compliance Officer with Jaiz Bank Plc, testified before Justice Joyce Abdulmalik of the Federal High Court in Abuja as the fifth prosecution witness in the trial involving Malami, his wife, Hajia Bashir Asabe, and their son, Abubakar Abdulaziz Malami.

The Economic and Financial Crimes Commission (EFCC) is prosecuting the three defendants on a 16-count charge bordering on conspiracy, concealment, and laundering of alleged proceeds of unlawful activities amounting to ₦8.71 billion.

At the resumed hearing, lead prosecution counsel, Jibrin Okutepa (SAN), informed the court that the matter was slated for continuation of trial and subsequently called the witness to testify.

While giving evidence, Anas explained that her responsibilities as a compliance officer include liaising with law enforcement agencies, including the EFCC, on matters relating to financial investigations and regulatory compliance.

She confirmed that Jaiz Bank received a request from the EFCC seeking account-related documents and responded through a letter dated February 4, 2026, addressed to the Chairman of the anti-graft agency.

The prosecution tendered the bank’s response and accompanying documents, which were admitted as evidence and marked Exhibit E Series. Defence counsel, Adedayo Adedeji (SAN), reserved his objection to the admissibility of the documents until the final written address stage.

Explaining the contents of the exhibit, the witness stated that it contained the bank’s forwarding letter, certificate of identification, account opening documents and the statement of account for Alkausar Farm.

Reviewing the account records before the court, Anas highlighted several notable transactions.

According to her, the account received a cash deposit of ₦1 million from Hassan Aliyu on June 13, 2018, followed by another cash deposit of ₦2.25 million from Aliyu Mohammed on June 20, 2018.

She further disclosed that on December 7, 2018, the account received multiple inflows from Kalamu Wahid Global Concept, including four separate transfers of ₦10 million each and an additional transfer of ₦8 million on the same day.

The witness also told the court that a transfer of ₦45.5 million was made from the account to Donaliv Global Nigeria Limited on December 18, 2018.

Continuing her testimony, Anas stated that Alkausar Farm received ₦26.25 million from Al-Afiya Energy Limited on July 13, 2020, and another ₦26.25 million from the same company on July 22, 2020.

She added that on July 24, 2020, the account recorded a transfer of ₦50 million to Sahad Stores Limited, alongside another transfer of ₦1 million to Alfagai Jewelry Nigeria Limited.

The witness further revealed that on August 12, 2020, the account received a credit inflow of ₦2.03 million, while a cheque withdrawal for the same amount was made on the same day by one Aliyu Mohammed Hassan.

During cross-examination, defence counsel questioned the witness on the bank’s knowledge of the transactions reflected in the account statement.

In response, Anas stated that financial institutions routinely monitor account activities and report suspicious transactions to the Nigerian Financial Intelligence Unit (NFIU).

She told the court that the bank maintains oversight of transactions and complies with regulatory obligations by reporting activities deemed suspicious.

Following the completion of her testimony, the witness was discharged.

Justice Abdulmalik subsequently adjourned the matter until July 17, 2026, for the continuation of trial proceedings.

Malami, his wife and son were re-arraigned on February 27, 2026, on the money laundering charges and pleaded not guilty to all counts.

The court later granted each defendant bail in the sum of ₦200 million with two sureties in like amount. As part of the bail conditions, one of the sureties must provide title documents to a landed property located in either Maitama or Asokoro District of Abuja. The court also directed the defendants to surrender their international passports pending the determination of the case.