The Nigerian Elite’s Insatiable Greed, By Kazeem Akintunde
Nigerians were greeted with the judgment by Justice Joyce Abdulmalik of the Federal High Court, Abuja, in a case filed by the Economic and Financial Crimes Commission, (EFCC), against the former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, in which a final forfeiture order of 48 properties linked to Malami was ordered by the Judge to the Federal Government.
The magnitude of the stolen properties by a former Attorney General of the Federation has left Nigerians reeling in disbelief. The EFCC, had, in December 2025, dragged the former Minister of Justice, his son, and wife to court over an alleged N8.7 billion money laundering allegation, which, in the course of their investigation, the EFCC came across several properties linked to the former Minister and the nation’s number one law officer during the administration of the former President, late President Muhammadu Buhari.
A total of 57 properties, which included a private university, a radio station, several properties in Abuja, Kaduna, Kano, and Kebbi states amongst others were termed as proceeds of unlawful activities, not acquired from lawful sources of income.
On January 6, 2026, Justice Emeka Nwite granted an interim forfeiture order following an ex parte motion moved by counsel to the EFCC, Ekele Iheanacho, (SAN). Sequel to the granting of the interim forfeiture order, and in compliance with the order of the court, the EFCC published the interim order in national dailies, inviting interested persons to come forward and show cause why the final forfeiture order should not be granted in favour of the Federal Government.
Following the publication of the interim order, Malami (SAN), and 14 other persons, consisting mainly of his family members and associates, filed applications to show cause and also urged the court to set aside the interim forfeiture order on the properties.
Malami told the Court that the properties were acquired through “legitimate and lawful means” as stated in his assets declaration forms at the Code of Conduct Bureau (CCB).
In a motion on notice filed on Malami’s behalf by his legal team, led by Joseph Daudu (SAN), the former AGF alleged that the anti-corruption agency got the interim order “by suppression of material facts and misrepresentation.”
Malami stated in the motion that the streams of income and the continuing profits generated from his businesses over the years sufficiently show that the properties sought to be forfeited were acquired through legitimate and lawful means.
Daudu submitted that Malami copiously declared his source of income in his asset’s declaration filed with the CCB to include: N374, 630,900 million income from salaries, estacodes, severance allowances, and others.
The streams of income, according to documents filed before the court by Malami through his counsel come from “sitting allowances as a board/committee member of the Federal Judicial Service Commission (FJSC), Federal Capital Territory Judicial Service Commission, Legal Practitioner Privileges Committee (LPPC), a high-powered presidential committee. “N574, 073, 000 as income generated through disposed assets; N10, 017,382,684 turnover from businesses; N2, 522, 000, 000 being loans to businesses, and N958,000,000 as a traditional gift from personal friends.”
Daudu equally explained that a total sum of N509, 880, 000 was realised as income from the launch and public presentation of a book titled, ‘Contemporary Issues on Nigerian Law and Practice, Thorny Terrains in Traversing the Nigerian Justice Sector: My Travails and Triumphs’, by Malami.
However, the court was not swayed by Malami’s arguments, and has ordered the final forfeiture of those properties to the Federal Government. Malami doesn’t appear to be giving up, though, as he has directed his lawyers to appeal the judgement.
Among the properties to be forfeited to the federal government include, a luxury duplex at Amazon Street, Plot No. 3011, within Cadastral Zone A06, Maitama District, Abuja (File No. AN 11352); a two-winged large three-storey building situated at No. 3 Onitsha Crescent, Area 11, Garki, Cadastral Zone A03, Abuja (formerly Harmonia Hotels Limited); Plot 683, Jabi District, Cadastral Zone B04, comprising a five-storey building (now luxurious Meethaq Hotels Ltd., Jabi, with 53 rooms/suites); Property No. 3130 within Cadastral Zone A04, Asokoro District, FCT, Abuja, comprising terraces; Property No. 3 Rhine Street, Maitama, Abuja (Meethaq Hotels Ltd., Maitama, with 15 rooms); and Plot No. 1241B, Asokoro District (No. 11A Yakubu Gowon Crescent), Asokoro District, Abuja.
Others are: Shop No. C52, Citiscape – Shariff Plaza, Plot 739, Cadastral Zone A07, Aminu Kano Crescent, Wuse II, FCT, Abuja; No. 4 Ahmadu Bello Way, Nasarawa GRA, Kano; Plot 157, Lamido Nasarawa GRA, Kano; a commercial plaza comprising commercial toilets, laundering facilities, warehouse tanks adjacent to Birnin Kebbi Market; 100 hectares of land along Birnin Kebbi–Jega Road; and another 100 hectares of land along Birnin Kebbi–Jega Road.
Others are: a four-bedroom bungalow at Gesse Phase II, Birnin Kebbi; Shops Nos. A36 and B3, Vegas Mall, Wuse II, Abuja; No. 26 Babbi Drive, BUA Estate, Abuja; No. 27 EFAB Estate, 5th Avenue, 59th Crescent, Gwarimpa, Abuja; a four-bedroom house with two-room boys’ quarters at No. 10B Doka Crescent, Abakpa GRA, Kaduna; Plot No. 13, IPENT 7 Estate, Karsana District, Abuja; a bedroom duplex with boys’ quarters at No. 12 Yalinga Street, off Adetokunbo Ademola Crescent, Wuse II, Abuja; two warehouse shops B40 and B46, Wuse Market, Abuja; acquisition of twin houses at Zone E, Apo Legislative Quarters, Cadastral Zone B01, Plot 1401, Gudu District, Abuja, and properties acquired by Khadimiyya for Justice & Development Initiative at the Academic Garden City, Birnin Kebbi, sold by the Federal Housing Authority Mortgage, namely: nine units of three-bedroom bungalows, three units of two-bedroom bungalows, and 5.4 hectares of land.
Also forfeited are the Rayhaan Agro Allied Factory in Kebbi State, including the factory buildings, factory machines and plant units, factory mosque, Rayhaan Mill staff quarters, and the Rayhaan Bustan Building.
More assets are listed at Azbir Arena, Kebbi State, including Azbir Hotel, Printing Press, Gallery, Gardens, Mosque, Azbir Clothing, and Azbir Pharmacy and Supermarket.
More forfeited properties include the Al-Afiya Energy tanker garage opposite Rayhaan University Health Centre along Sani Abacha Bypass Road, Birnin Kebbi; Rayhaan Security House, off Sani Abacha Bypass, Birnin Kebbi; an uncompleted two-storey plaza located opposite Central Motor Park (Eastern Park), Birnin Kebbi; Amasdul Oil and Gas Ltd. filling station structure along Sani Abacha Bypass Road, Birnin Kebbi, near Jambali Automobile Workshop; the assets of Zeennoor Hotel at Kabuga Satellite Town, off Gwarzo Road, Kano, with 131 rooms; Zeennoor Mosque at Kabuga Satellite Town, off Gwarzo Road, Kano, and the old Zeennoor Hotel building.
Personally, I am still at a loss why a normal human being would acquire so much wealth and properties to such a staggering extent. In Malami’s case, the value of what he and members of his family are to forfeit to the federal government is valued at N212. 9 billion. Yet, the total budget of Kebbi State (where he comes from) in 2025 stood at N580 billion.
It is an irony that the number one law officer of the federation during the eight-year rule of ‘Mr Integrity’, President Muhammadu Buhari, could accumulate so much properties under his nose without a whimper from him. Yet, more than 133 million Nigerians are reported to be multidimensionally poor and wallowing in abject poverty. Perhaps to be in the good book of the late President, Malami married one of his daughters, Nana Hadiza as his third wife in July, 2022.
Malami is not the only politician whose hands had been found in the cookie jar. Several others have had billions of Naira worth properties forfeited to the federal government in the past.
Malami’s counterpart in the Ministry of Power, Saleh Mamman, was recently jailed for 75 years by a federal Court in Abuja for diverting funds meant for Nigeria’s major hydropower projects. Justice James Omotosho convicted and sentenced Mamman on 12 counts of N33.8 billion fraud, imposing varying prison terms that run consecutively.
The money he embezzled was part of the N33.8 billion siphoned from the funds earmarked for the Zungeru and Mambilla hydroelectric power projects that was meant to provide power for millions of Nigerians.
Justice Omotosho also ordered the final forfeiture of Mamman’s two properties located in choice areas of Abuja and monies in different currencies recovered by the anti-graft agencies.
Mamman is among several former power officials who have faced trial over corruption in the sector. Olu Agunloye, a former Minister of Power during President Olusegun Obasanjo’s administration is also facing charges over the alleged fraudulent award of the Mambilla power project. Some officials of the Rural Electrification Agency are also facing corruption charges.
Chukwunyere Anamekwe Nwabuoku, former acting Accountant-General of the Federation, was sentenced to 72 years in prison on March 23, 2026. Justice James Omotosho of the Federal High Court in Abuja found him guilty of laundering ₦868.4 million. His sentences will run concurrently, meaning he will actually only serve eight years behind bars.
The EFCC proved that Nwabuoku diverted public funds for security and defense while serving as the Director of Finance and Accounts at the Ministry of Defence between 2019 and 2021. The money was funneled to private companies under the guise of “classified purposes” with no proof of legitimate government use.
Also last week, the Supreme Court affirmed the final forfeiture of seven landed properties, $2.045 million, and share certificates linked to a former Governor of the Central Bank of Nigeria, Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered by a five-member panel led by Justice Ibrahim Saulawa, the apex court set aside the judgment of the Court of Appeal and restored the earlier decision of the Federal High Court in Lagos, which had held that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.
The forfeited assets include a fully detached duplex of identical structures at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres covered by Survey Plan No. DS/LS/340 on Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi, and a four-bedroom duplex at 12A Probyn Road, Ikoyi.
Others are an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of undetached apartments on a 2,457.60-square-metre plot at No. 8A Adekunle Lawal Road, Ikoyi; and a full duplex with all its appurtenances on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi.
The list goes on and on. Many public officials that should serve the nation, use such opportunities to amass wealth for themselves and their immediate family. How it is so easy to steal and divert funds in spite of several checks and balances in the system is still a mystery to many right-thinking Nigerians. The unbridled level of corruption has forced many Nigerians to give up hope in the country ever improving and has forced millions of Nigerians out of the country to several developed countries where they become second-class citizens.
In spite of the introduction of the Single Treasury Account (TSA), many public servants have been able to beat the system to corner public resources for themselves and members of their immediate family.
The way out, perhaps, would be to adopt the Chinese model, where corrupt practices by senior government officials attract the death penalty. Until we adopt such an extreme measure, I do not see any solution to corruption in Nigeria. Those who are not in a position to steal today are patiently waiting for their turn in the future. Funnily, Nigerians know that what has been stolen and recovered may most likely be re-looted by more greedy hands. The death penalty for corruption will serve as a deterrent to others. A greedy fraction of our population cannot continue to steal what should benefit over 220 million Nigerians.
See you next week.
