The Economic and Financial Crimes Commission has detained former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), over allegations of terrorism financing, money laundering, and unexplained wealth.
Malami is being interrogated on multiple fronts, including the operation of suspicious accounts, an alleged N10 billion investment linked to him in Kebbi State, and the whereabouts of $322 million Abacha loot recovered from Switzerland, along with an additional $22 million returned from the Island of Jersey in the UK.
He remained in EFCC custody as of 10 p.m. on Tuesday after failing to meet his bail conditions. Investigators are also expected to question one of his wives over her reported involvement in the disbursement of N4 billion under the Anchor Borrowers Programme from the Central Bank of Nigeria.
According to an EFCC source, the allegations are substantial and may take days to review. The source added that some assets connected to Malami could be temporarily seized pending further clarification.
The source said Malami is being held over “terrorism financing and the whereabouts of Abacha loot recovered from Switzerland and Jersey,” adding that his “sudden N10 billion investment in Kebbi State is under investigation” and that he “has a lot to clarify but has not met his bail conditions.”
