Reported by: Ijeoma G | Edited by: Gabriel Osa
The Economic and Financial Crimes Commission (EFCC) has detained former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami (SAN), over allegations that include financing terrorism and handling suspicious financial assets. The development, confirmed late Tuesday, comes amid intensified scrutiny of several high‑value transactions linked to his time in office.
According to sources within the EFCC, investigators are probing a range of issues — among them the management and whereabouts of recovered looted funds linked to the late dictator Sani Abacha, suspicious bank accounts allegedly linked to Malami, and his reported investments of roughly ₦10 billion in Kebbi State.
The agency is also scrutinising the origins and legitimacy of funds claimed to have been traced from abroad, including monies said to have been repatriated from Switzerland and the Island of Jersey.
Malami remains in EFCC custody as of last night, after reportedly failing to satisfy bail conditions.
Though he was previously released on bail following earlier interrogations, the current detention is described by EFCC insiders as part of a broader, ongoing investigation — not necessarily a fresh arrest per se. In public statements, Malami has strongly denied any wrongdoing. He described the allegations as “fabricated” and “politically motivated,” insisting that during his tenure he championed legal reforms that strengthened Nigeria’s anti–money‑laundering (AML) and counter‑terrorism‑financing (CFT) framework — including supporting the passage of the 2022 AML and Terrorism (Prevention and Prohibition) Acts.
He argues that mere institutional or professional engagements should not be construed as evidence of financing terrorism. Investigators say that Malami will face detailed questioning and documentation review before any formal charges are expected to be filed. The probe reportedly covers dozens of bank accounts — 46 of them directly linked to the ex‑AGF — and other high‑value transactions.
Legal experts anticipate that, depending on EFCC’s findings, the case could evolve into a broader inquiry that implicates additional individuals or institutions previously associated with the matter.
The unfolding case has already generated strong public interest, underscoring deep concerns over transparency, accountability and the handling of national funds long considered recovered assets. For now, Malami remains in custody as EFCC presses forward with its investigation.
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