Economic and Financial Crimes Commission (EFCC) has detained the immediate-past Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), over allegations linked to terrorism financing and the management of recovered Abacha loot.
Former AGF Malami
As at 10 p.m. on Tuesday, Malami was still in EFCC custody after failing to meet bail conditions.
According to EFCC sources, investigators are questioning him on alleged money laundering, operation of suspicious accounts, a sudden ₦10 billion investment in Kebbi State, and the whereabouts of about $322 million Abacha loot recovered from Switzerland, as well as another $22 million from Jersey.
The anti-graft agency is also said to be preparing to question one of Malami’s wives over alleged involvement in ₦4 billion Anchor Borrowers Programme funds.
“He has a lot to clarify,” one source told reporters, noting that the allegations are numerous and will take days to unravel.
Malami, however, has strongly denied the claims. In a statement posted on X, he insisted he has never been accused, invited, interrogated, or investigated by any law-enforcement body, locally or internationally, for terrorism financing.
He described the reports as politically motivated attempts to smear his record, stressing that even the retired military officer cited in the original report admitted he never accused him of financing terrorism.
Malami warned that linking lawful professional dealings to terrorism financing without evidence was dangerous, misleading, and unjust.
He highlighted his role in strengthening Nigeria’s anti-money laundering framework and efforts to exit the FATF Grey List, insisting that his public service record contradicted any attempt to associate him with terrorism.
