- EFCC Uncovers 41 High-Value Properties Allegedly Linked to Former AGF Abubakar Malami, Valued at Over N212bn
By Coolnews.ng Investigative Desk
The Economic and Financial Crimes Commission (EFCC) has reportedly uncovered a vast web of real estate and commercial assets allegedly linked to Abubakar Malami (SAN), Nigeria’s former Attorney-General of the Federation and Minister of Justice under the Muhammadu Buhari administration.
According to documents and asset schedules sighted by Coolnews.ng, investigators are probing 41 properties spread across Kebbi State, Kano State and the Federal Capital Territory (FCT), Abuja, with a combined estimated value of N212,892,750,000.
The properties, which include universities, hotels, factories, oil and gas facilities, media houses, luxury residences and large commercial estates, are said to be under intense scrutiny as part of EFCC’s ongoing investigations into alleged corruption, abuse of office and illicit enrichment during and after Malami’s tenure in office.
While EFCC officials are yet to issue a comprehensive public statement on the matter, multiple sources familiar with the investigation confirm that the scale and sophistication of the assets have raised serious red flags within anti-graft circles.
Kebbi State: Assets Valued at Over N162bn
The largest concentration of the reportedly discovered assets is located in Kebbi State, Malami’s home state, with an estimated valuation of N162,195,950,000.
Rayhaan University and Education Network
At the centre of the Kebbi assets is an expansive education empire operating under the Rayhaan brand:
Rayhaan University Permanent Site – N56bn
Rayhaan University Temporary Site – N37.8bn
Rayhaan University Third Site – N2.45bn
Vice-Chancellor’s Official Residence – N490m
Rayhaan Model Academy – N11.2bn
Rayhaan Primary & Secondary School – N8.75bn
Investigators are said to be examining funding sources, land acquisition processes and construction timelines for these institutions.
Agro-Allied, Industrial and Energy Assets
EFCC sources also list several industrial-scale facilities allegedly linked to Malami:
Rayhaan Agro-Allied Factory Buildings – N4.2bn
Factory Machines & Plant Units – N10.5bn
Factory Mosque – N2.45bn
Rayhaan Mill Staff Quarters (10 units) – N1.487bn
Rayhaan Bustan Building – N3.15bn
Printing Press – N1.05bn
Al-Afiya Energy Tanker Garage – N2.45bn
Amasdul Oil & Gas Ltd Structure – N1.05bn
Rayhaan Radio Station – N78.75m
Azbir Brand: Hospitality, Retail and Lifestyle
Another cluster of properties reportedly traced to the former minister operates under the Azbir brand:
Azbir Hotel – N10.325bn
Azbir Gallery – N581m
Azbir Gardens – N392m
Azbir Mosque – N252m
Azbir Clothing Outlet – N350m
Azbir Pharmacy & Supermarket – N175m
Residential and Foundation Properties
The Kebbi asset list further includes luxury homes and organisational buildings:
Malami House (GRA) – N350m
Malami House (Behind Mobil) – N490m
Malami Residence (Behind Cemetery) – N350m
Abdulaziz (First Son) House – N1.659bn
Ahbiru (Second Son) House – N2.989bn
Malami Support Organisation Building (ADC) – N210m
Kadi Malami Foundation Building – N56m
Rayhaan Security House – N245.7m
Uncompleted Three-Storey Complex – N665m
Kano State: Luxury Hotels and Private Residences Worth N16bn
In Kano State, EFCC investigators reportedly identified assets valued at N16,011,800,000, largely within the hospitality sector:
Zeennoor Hotel – N11.2bn
Zeennoor Mosque – N84m
Zeennoor Old Hotel Building – N280m
Rayhaan Hotel Kano – N2.24bn
Rayhaan Gym Kano – N1.225bn
Wife’s Residence (Ahmadu Bello Way) – N982.8m
FCT Abuja: Prime Properties Worth Nearly N35bn
In Abuja, some of the most expensive assets reportedly uncovered are located in high-brow districts:
Luxury Duplex, Amazon Street, Maitama – N5.95bn
Meethaq Hotel, Jabi – N8.4bn
Meethaq Hotel, Maitama – N12.95bn
42 Bungalows, Efab Estate – N385m
Harmonia Hotels, Area 11, Garki – N7bn
Total value of FCT properties: N34,685,000,000.
Questions EFCC Is Said to Be Asking
Anti-corruption sources say investigators are focusing on:
Whether these assets were acquired during Malami’s years in office
The source of funds used for acquisition and development
Possible use of proxies, family members or corporate fronts
Compliance with asset declaration laws
Silence, Denial or Legal Battle Ahead?
As of the time of filing this report, Abubakar Malami has not publicly responded to the alleged discoveries. However, legal observers expect strong denials or court challenges, given Malami’s status as a Senior Advocate of Nigeria (SAN).
The EFCC, known for methodical asset tracing, is expected to escalate the matter through asset forfeiture proceedings, formal charges, or both, if investigators establish links between the properties and proceeds of unlawful activity.
A Defining Test for Nigeria’s Anti-Corruption War
If substantiated, this investigation could rank among the largest single asset discoveries involving a former Nigerian cabinet minister, potentially redefining the post-office accountability of public officials.
Coolnews.ng will continue to monitor developments and provide verified updates as official statements emerge.
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