Malami dragged into N7.8bn fraud scandal, banks flagged suspicious payments

The trial of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, continued on Wednesday, May 13, 2026, with testimony from the fourth prosecution witness, who revealed that Malami’s bankers had filed a Suspicious Transaction Report (STR) concerning his accounts.

Testifying before Justice Joyce Abdulmalik at the Federal High Court in Maitama, Abuja, Mashelia Arhyel Bata, a compliance officer with Zenith Bank Plc, confirmed that the bank had flagged several of Malami’s transactions as suspicious. Bata explained that although the deposits in Malami’s accounts appeared to meet the Central Bank of Nigeria’s (CBN) guidelines, the bank was required to report the transactions to the Nigerian Financial Intelligence Unit (NFIU) due to their repetitive nature.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Malami, his wife, Hajia Bashir Asabe, and their son, Abubakar Abdulaziz Malami, on a 16-count charge of conspiracy, money laundering, and the concealment of funds amounting to N8.7 billion, contrary to the Money Laundering (Prevention and Prohibition) Act of 2022.

The witness further elaborated on the process for filing an STR, clarifying that transactions deemed repetitive or of suspicious origin must be reported to the NFIU, an autonomous unit of the CBN responsible for analysing and disseminating financial intelligence. Bata added that his role as a compliance officer was to handle correspondence from law enforcement agencies but that he was not directly involved in managing Malami’s accounts.

Under cross-examination, Bata stood by his statement, despite objections from the defence, which sought to challenge the relevance of further clarification. Justice Abdulmalik allowed the re-examination, emphasising the need for transparency and clarification on technical financial matters.

Following the completion of Bata’s testimony, the court adjourned the trial to May 22, 2026, for continued proceedings.