A Federal High Court sitting in Abuja has ordered the final forfeiture of 48 properties linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), to the Federal Government over alleged money laundering.
NPO Reported that the Economic and Financial Crimes Commission (EFCC) had filed for the forfeiture of the properties in the ongoing money laundering case against the ex-AGF.
EFCC argued that the properties, located across Kebbi, Kano, Kaduna and the Federal Capital Territory, Abuja, were acquired with proceeds of alleged criminal activities with the anti-graft agency earlier securing an interim forfeiture order before seeking the final order.
In a judgement delivered on Wednesday by the presiding judge, Justice Joyce Abdulmalik, the court held that the properties were reasonably suspected to have been acquired with proceeds of unlawful activities and should be permanently forfeited to the Federal Government.
Malami, according to the court’s ruling, failed to satisfactorily explain the legitimate sources of funds used to acquire the assets.
While the defendant had claimed that the affected assets belonged to the extended members of the Malami family in Kebbi state, Abdulmalik dismissed the claims.
The presiding judge reportedly held that the central issue before the court was not ownership but whether the funds used to acquire the properties were lawfully obtained.
She held that Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act empowers the court to order the forfeiture of assets found to be proceeds of crime.
More details later…