IMMEDIATE past Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), is currently being interrogated by the Economic and Financial Crimes Commission (EFCC) over allegations bordering on terrorism financing, money laundering, and questionable management of recovered public funds.
Malami, who arrived at the EFCC headquarters earlier in the week, remained in custody as of 10pm on Tuesday, after failing to meet the agency’s bail conditions. Sources within the commission say he may remain with investigators for days due to the “weight and volume” of allegations levied against him.
According to EFCC investigators, the former AGF is being questioned on several issues, including: Operation of suspicious accounts allegedly linked to terrorism financing, the whereabouts of $322 million Abacha loot recovered from Switzerland, accountability for about $22 million recovered from the Island of Jersey and a reported N10 billion investment in Kebbi State, which the commission suspects may have been illegally funded and aN4 billion Anchor Borrowers’ Programme payment, in which one of his wives may also be questioned.
A senior EFCC official told this newspaper that the inquiry is broad and far-reaching.
“We have detained the ex-minister for terrorism financing and the whereabouts of Abacha loot recovered from Switzerland and the Island of Jersey,” the source said.
“His sudden investment of N10 billion in Kebbi State is under investigation. We may attach some of these assets.
We are also likely to interrogate one of his wives over her role in the N4 billion Anchor Borrowers’ cash from the CBN. He has a lot to clarify, but he has not met bail conditions.”
Reacting to the reports, Malami strongly rejected the allegations, describing them as false, politically motivated, and inconsistent with his public service record.
In a detailed statement posted on X, he insisted that he has never been investigated or queried for terrorism financing by any Nigerian or international security agency.
“I state clearly and unequivocally that I have never at any time been accused, invited, interrogated, investigated, or charged by any security, law-enforcement, regulatory, or intelligence agency within or outside Nigeria in respect of terrorism financing,” he wrote.
Malami further argued that the “retired military officer” cited as the primary source in earlier publications did not actually accuse him, but spoke only of individuals who had indirect business relationships with multiple persons.
He accused political rivals of manipulating public narratives to “insinuate, without evidence,” his involvement in terrorism financing.
“Terrorism financing is a grave crime with devastating consequences. Any attempt whether by direct allegation or indirect innuendo to associate an individual with such an offence must be based on verifiable facts, not speculation,” he stated.
Malami highlighted his leadership role in reforms that led to Nigeria’s removal from the Financial Action Task Force (FATF) grey list, insisting his record “contradicts any insinuation of complicity.”