Why EFCC has not released me – Malami

A former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), has explained the circumstances surrounding his continued detention by the Economic and Financial Crimes Commission (EFCC), after voluntarily reporting to the agency on Monday.

The former minister is being questioned over several issues, including allegations relating to terrorism financing, the ownership of 46 bank accounts, the engagement of multiple legal representatives in the recovery of the $322.5 million Abacha loot, and the utilisation of funds released under the conditional cash transfer programme.

Malami, however, said he was detained without being given any specific reason other than being informed that his earlier administrative bail had been revoked, despite not breaching the bail terms.

In a statement issued Wednesday by his Special Assistant on Media, Mohammed Bello Doka, Malami said he had been given new bail conditions, which he is prepared to meet once the EFCC authorises him to do so.

Earlier, Malami dismissed allegations of terrorism financing and ownership of 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.

“Similarly, claims suggesting that Mr Malami operates or controls ‘46 bank accounts’ are entirely fictitious, unsupported by facts, official records or lawful findings, and merely form part of a coordinated media trial aimed at character assassination.”

Doka added that Malami had never been questioned or confronted with issues relating to terrorism financing or alleged multiple bank accounts.

“Even the retired military officer cited in recent reports explicitly clarified that he never accused Mr Malami of financing terrorism, a crucial clarification that was irresponsibly overshadowed by sensational headlines and mischievous framing,” he said.

He also highlighted Malami’s record as Attorney-General, noting his role in strengthening Nigeria’s anti-money laundering and counter-terrorism financing framework.

“During his tenure as Attorney-General, he played a leading role in strengthening Nigeria’s AML/CFT framework, including the establishment of an independent NFIU; the enactment of the Money Laundering (Prevention and Prohibition) Act, 2022; and the Terrorism (Prevention and Prohibition) Act, 2022. These reforms were instrumental to Nigeria’s eventual removal from the FATF grey list,” Doka stated.

Addressing allegations of duplicated legal representation in the recovery of the Abacha loot, Doka explained that the Buhari administration rejected the initial terms presented by Swiss lawyer Enrico Monfrini, who reportedly requested a $5 million upfront fee and a success fee of up to 40 percent. According to him, Malami later negotiated a 5 percent all-inclusive success fee with local lawyers, saving the country between ₦76.8 billion and ₦179.2 billion at prevailing exchange rates.

On the deployment of the recovered funds, Doka said the Abacha loot was repatriated in tranches and used strictly in line with tripartite agreements with international partners. These included the 2017–2018 $322 million from Switzerland disbursed through the National Social Investment Programme under World Bank and civil society monitoring, and the $321 million repatriated from Jersey in 2020, which was channelled into major infrastructure projects such as the Lagos–Ibadan Expressway, Abuja–Kano Road and the Second Niger Bridge.

Malami, who served as Nigeria’s Attorney-General from 2015 to 2023, had on November 28 confirmed receiving an EFCC invitation, pledging on Facebook to honour it as “a law-abiding and patriotic citizen.”

The EFCC, however, said it revoked his bail because he failed to meet the required conditions and confirmed that he is being held in connection with multiple ongoing investigations.

Nigerians can now invest ₦2.5 million on premium domains and profit about ₦17-₦25 million. All earnings paid in US Dollars. Rather than wonder, click here to find out how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.