By Jane Okafor, Abuja
Former deputy governor of the Central Bank of Nigeria (CBN); Kingsley Moghalu, and ex-chairman of the National Human Rights Commission; Chidi Odinkalu, have reflected on the transient nature of power and the need for wielders of it to be mindful of tomorrow.
Driven by the on the ongoing prosecution of Abubakar Malami, former attorney-general of the federation (AGF) and minister of justice, Moghalu, an ex – Presidential aspirant and Odinkalu, said that Malami’s trial should remind all that power is fleeting and hunters could become the hunted tomorrow in Nigeria.
In separate posts shared on X, in reactions to Malami’s Tuesday arraignment, alongside his son and wife, on 16 counts of alleged money laundering running into billions of naira, Moghalu said the case attests to the fleeting nature of power in the country where public office has become increasingly detached from competence and integrity.
“By now anyone taking public office in Nigeria should understand the transience of power, especially in a country where public office has progressively become uncoupled from competence, ideology, or values such as integrity. When people carry on in office like tomorrow will never arrive, the hunters will become the hunted,” he wrote.
“This is only a general statement and not a ‘conviction’ of Mr. Malami. Let the courts decide his guilt or innocence, if they will, and if this does not become yet another alleged corruption case with no real conclusion.
“But it was a bit odd when the central bank increasingly became the ‘Central Bank of Agriculture’ under the great central banking whiz kid Mr. Emefiele.”
For Odinkalu, it is an irony Malami as a justice minister, who hounded then Economic and Financial Crimes Commission (EFCC) boss, Magu, over Abacha’s loot, is facing charges pertaining to the same recovered loot.
“It was not long ago that @aamalamiSAN hounded Ibrahim Magu out of @officialEFCC, pretty much over control of recovered loot. Today, Magu is living modestly in untroubled retirement,” he stated on his X handle.
“Malami went on to acquire incredible loot of his own. Earlier this morning @officialEFCC arraigned him before @FederalHigh on multiple counts of looting & #MoneyLaundering, together with one of his wives & a son. All three will spend the #NewYear’s day in Kuje prison until 2 Jan when the court will take their bail application.
“Many men & women around power today will miss the significant lessons in Malami’s present predicament. I hope, nevertheless, that he gets the #FairTrial that he did not care to afford many when he had the chance & opportunity. May justice happen to him.”
Also, ex – Senator Dino Melaye, a lawyer who faced trial while Malami was the AGF, said the former minister’s arraignment evoked the memories of his own court appearances during his prosecution.
He stated, “Former AGF, Abubakar Malami, along with his son, have appeared in court today. Reminded me of how I was appearing in different courts when Malami, as AGF, was prosecuting me over frivolous cases, including taking over one of the police cases against me. Wish him well.”
The Daily Crucible reports that a Federal High Court sitting in Abuja, had on Tuesday, remanded Abubakar Malami, SAN, in prison custody.
The court ordered that Malami should remain in Kuje prison till January 2, 2026, when his formal request for bail would be looked into.
Also remanded alongside the former AGF
who is grappling with a 16-count money laundering charge are Abdulaziz, and an accomplice, Hajia Bashir Asabe
Trial Justice Emeka Nwike issued the remand order after he refused an oral bail application the defendants made through their lawyers led by Mr J. B. Daudu, SAN.
The court hinged the reason for refusal on the need to allow the Economic and Financial Crimes Commission (EFCC), which opposed their release on bail, to file its counter-affidavit.
The defendants were accused of laundering public funds totalling about N9 billion, and by that action, allegedly breached Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011, as amended and punishable under Section 15(3).
The anti – graft agency alleged that the former minister used stolen funds to acquire choice properties in Abuja, Kebbi, Kano and other cities between July 2022 and June 2025.
The agency also claimed that Malami and others used a firm – Metropolitan Auto Tech Limited – to conceal over N1.01bn in a Sterling Bank account.
Some of the counts in the charge against the former AGF and others read: “That you Abubakar Malami SAN, and Abubakar Abdulaziz Malami between July 2022 and June, 2025 in Abuja within the jurisdiction of this Honourable Court did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N1, 014, 848, 500.00 (One Billion, Fourteen Million, Eight Hundred and Forty Eight Thousand, Five Hundred Naira) in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities and you thereby committed an offence contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act.
“That you, Abubakar Malami SAN, whilst being the Attorney-General of the Federation, and Abubakar Abdulaziz Malami, between September 2020 and February 2021 in Abuja within the jurisdiction of this Honourable Court, did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N600,013,460.4 in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities, and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Prohibition Act 2011 as amended by Act No. 1 of 2012 and punishable under Section 15(3) of the same Act.
“That you, Abubakar Malami SAN, whilst being the Attorney-General of the Federation, and Abubakar Abdulaziz Malami, sometime in March, 2021, in Abuja, within the jurisdiction of this Honourable Court, did retain the total sum of N600,000,000.00 in Metropolitan Auto Tech Limited as cash collateral for a loan of N500,000,000.00 granted to RAYHAAN HOTELS LTD by Sterling Bank Plc when you reasonably ought to have known that the said cash collateral of N600,000,000.00 was the proceeds of unlawful activities, and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Prohibition Act 2011 as amended, punishable under Section 15(3) of the same Act.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Limited sometime in November, 2022 in Abuja within the jurisdiction of this Honourable Court did indirectly disguise the unlawful origin of the aggregate sum of N500,000,000.00 paid to Efab Properties Ltd paid for purchase of property known as luxury duplex at Amazon street, Plot No. 3011 within Cadastral Zone A06 Maitama District, Abuja in favour of Abubakar Malami SAN when you reasonably ought to have known that the said N500million formed proceed of unlawful activity and you thereby committed an offence contrary to section 18(2) (a) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
