Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has broken his silence on the circumstances surrounding his continued detention by the Economic and Financial Crimes Commission (EFCC), insisting that the allegations linked to him are unfounded.
Malami, who voluntarily honoured an EFCC invitation on Monday, is currently being questioned over multiple issues, including alleged terrorism financing, the ownership of 46 bank accounts, engagement of several legal teams in the recovery of the $322.5 million Abacha loot, and utilisation of funds under the conditional cash transfer programme.
However, the former minister says the anti-graft agency has not presented any clear allegation to justify his detention. According to him, he was only informed that his earlier administrative bail had been revoked—despite not violating the terms.
In a statement issued by his Special Assistant on Media, Mohammed Bello Doka, Malami disclosed that he has been given new bail conditions and is ready to comply as soon as the EFCC authorises him to do so.
He dismissed the terrorism financing allegations and claims that he operates 46 bank accounts, describing them as “false, misleading and baseless.”
“We state without equivocation that there is no allegation, investigation or charge of terrorism financing against Abubakar Malami, SAN, by the Economic and Financial Crimes Commission (EFCC) or by any other security, intelligence or law-enforcement agency, whether in Nigeria or abroad,” the statement said.
Doka added that Malami has never been interrogated on any issue related to terrorism financing or multiple bank accounts, noting that even the retired military officer cited in recent reports clarified that he never accused the former minister of sponsoring terrorism. He blamed “sensational headlines and mischievous framing” for distorting the narrative.
Highlighting Malami’s record in office, Doka stressed his contributions to strengthening Nigeria’s anti-money laundering and counter-terrorism financing laws. These include the establishment of the Nigerian Financial Intelligence Unit (NFIU) as an independent entity, and the enactment of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022. The reforms, he noted, helped Nigeria exit the Financial Action Task Force (FATF) grey list.
On the controversy surrounding legal representation in the recovery of the Abacha loot, Doka explained that the Buhari administration rejected the initial terms offered by Swiss lawyer Enrico Monfrini, who allegedly requested a $5 million upfront fee and up to 40% success fee. Malami later secured a 5% all-inclusive success fee with local lawyers, saving the country an estimated ₦76.8 billion to ₦179.2 billion.
He added that the repatriated Abacha loot was utilised in strict compliance with tripartite agreements with international partners. This included the $322 million from Switzerland (2017–2018) disbursed through the National Social Investment Programme under World Bank supervision, and the $321 million returned from Jersey in 2020 for major infrastructure projects such as the Lagos–Ibadan Expressway, Abuja–Kano Road, and the Second Niger Bridge.
Malami, who served as Attorney-General from 2015 to 2023, confirmed on November 28 that he had received the EFCC’s invitation and publicly pledged to honour it as a “law-abiding and patriotic citizen.”
The EFCC, however, maintains that his bail was revoked for failing to meet its conditions and confirmed that he remains in custody over multiple ongoing investigations.
Comments