James Adamu
Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), remains in the custody of the Economic and Financial Crimes Commission for a fourth consecutive night, having failed to meet the bail conditions set by the anti-graft agency.
Malami, who was taken into custody on Monday, is being held as part of an investigation into 18 alleged offences.
Sources within the EFCC, who requested anonymity as they were not authorised to speak publicly, confirmed on Thursday that the former AGF was still being detained because he had not fulfilled the requirements for his release. “He is still in our custody. He has been here since Monday over his failure to meet his bail conditions,” one source stated.
In a formal response to the allegations forming the basis of the investigation, Malami has issued a strong denial. Through a statement by his media aide, Mohammed Bello Doka, he described accusations of terrorism financing and claims that he operated 46 bank accounts as “false, baseless and part of a coordinated media trial.” He asserted that no security agency in Nigeria or abroad had ever investigated him for such charges.
The former minister anchored his defence on his official record, highlighting his role in establishing the Nigerian Financial Intelligence Unit and championing major anti-graft legislation, including the Money Laundering Act and the Terrorism Act, both passed in 2022. Regarding the EFCC’s line of inquiry, Malami explained that his recent interrogation focused on an alleged duplication of processes in the recovery of the Abacha loot.
He contended that no recovery process had been concluded before 2016, making duplication impossible.
He provided detailed context on the engagement of a Swiss lawyer, stating that the lawyer’s proposal for a 40 per cent fee was rejected by the Buhari administration, which instead imposed a 5 per cent cap.
This decision, according to Malami, led to the appointment of Nigerian lawyers and saved the country “tens of billions of naira.” He further clarified that the various tranches of repatriated Abacha loot between 2017 and 2020 were distinct and administered under separate international monitoring frameworks.
Malami urged the public to disregard what he termed “concocted allegations and coordinated misinformation,” expressing confidence that the matters would be resolved.
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