ALLEGED N8.7B FRAUD: MALAMI’S BANKERS FILED SUSPICIOUS REPORTS ON HIS TRANSACTIONS-WITNESS. (PHOTO). #PRESS RELEASE.

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Alleged N8.7b Fraud: Malami’s Bankers Filed Suspicious Reports on his Transactions-Witness The Fourth Prosecution Witness, PW4, in the trial of the former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, on Wednesday, May 13, 2026, told Justice Joyce Abdulmalik of the Federal High Court, Maitama, Abuja, that Zenith Bank Plc, where the former AGF had account, filed Suspicious Transaction Report, STR, in respect of his transactions. The Economic and Financial Crimes Commission, EFCC, is prosecuting Malami alongside his wife, Hajia Bashir Asabe, and his son, Abubakar Abdulaziz Malami, on amended 16-count charge, bordering on conspiracy, procuring, disguising, concealing and laundering proceeds of unlawful activities to the tune of N8,713,923,759.49 (Eight Billion, Seven Hundred and Thirteen Million, Nine Hundred and Twenty-Three Thousand, Seven Hundred and Fifty-Nine Naira, Forty-Nine Kobo), contrary to the provisions of the Money Laundering (Prevention and Pro...
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SERAP TO DUE GOVERNORS OVER LG ALLOCATIONS. (PHOTO).

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 SERAP to sue governors over LG allocations 


The Socio-Economic Rights And Accountability Project (SERAP) has threatened to sue the 36 state governors and the Minister of the Federal Capital Territory (FCT) if they fail to give an account of the local government funds they have collected.


The rights group stated this in an X post on Thursday shortly after the Supreme Court barred state governments from further retaining or utilising funds meant for the 774 Local Government Areas (LGAs) in the country.


Daily Sun reported that the Supreme Court in a lead judgement delivered by Justice Emmanuel Agim said it was illegal and unconstitutional for governors to continue to receive and seize funds allocated to LGAs in their states, describing the practice as “dubious”.


The apex court said the practice violated Section 162 of the 1999 Constitution, as amended.


Reacting, SERAP said, “BREAKING: Following the Supreme Court decision declaring unlawful the use [or misuse] by Nigeria’s 36 governors of the funds meant for local governments, we call on the governors and FCT minister to account for and return the funds they have collected, or face legal action.”

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