The Economic and Financial Crimes Commission (EFCC) has uncovered more than eight high-profile business ventures allegedly linked to former Attorney General of the Federation, Abubakar Malami (SAN), which investigators believe were acquired through proceeds of fraud during his eight-year tenure in office.
Before his appointment as AGF under former President Muhammadu Buhari, Malami was largely known only as the Legal Adviser of the defunct CPC. However, EFCC findings suggest that his financial profile changed dramatically during his time in government.
Investigations show that several businesses allegedly owned by Malami sprang up in Kebbi State within this period. These include Rayhaan Rice, Rayhaan University, Rayhaan Radio, Rayhaan Secondary and Primary Schools, Rayhaan Security, Rayhaan Fire Service, Rayhaan Farms, as well as Azbir Hotel and Azbir Gallery in Birnin Kebbi.
Sources close to the EFCC disclosed that the anti-graft agency is still tracing additional assets and business interests reportedly linked to Malami in Abuja and Kano State. According to the source, the commission is preparing to approach the court for an order of temporary forfeiture of the identified properties, pending the conclusion of investigations and possible permanent forfeiture.
“Just imagine the scale of wealth and properties allegedly acquired within just eight years as Attorney General,” the source said, noting the irony that the acquisitions allegedly occurred under an administration that campaigned strongly on anti-corruption.
Malami is currently in EFCC custody as investigations continue. On December 18, 2025, a Federal Capital Territory High Court, presided over by Justice Babangida Hassan, rejected a bid for his release, ruling that his detention since December 8 was lawful and backed by a valid court order.
The EFCC says its probe is ongoing, with more details expected as legal processes unfold.
