Abubakar Malami, the former Attorney-General of the Federation and Minister of Justice, remains in the custody of the Economic and Financial Crimes Commission (EFCC) as investigations into multiple financial irregularities continue to deepen, according to officials and sources close to the matter.
Malami was detained after failing to meet stringent bail conditions imposed by the anti-graft agency, which include surrendering his international passport and presenting two serving permanent secretaries as sureties. As a result, he has spent successive nights at the EFCC headquarters in Abuja, and is expected to continue reporting daily to the commission through December as interrogation persists.
The EFCC has reportedly secured a remand order to detain Malami while it investigates him for 18 alleged offences, including money laundering, abuse of office and suspected financing of terrorism, sources familiar with the case said. The probe spans several high-profile transactions and recoveries from his time in office, raising significant public interest.
But Malami’s camp has strongly rejected wide-ranging allegations, dismissing many reports circulating in the press as “false, misleading and baseless.” In a statement issued by his media aide, Mohammed Bello Doka, the former minister said there is no official accusation or charge of terrorism financing against him by the EFCC or any domestic or international law-enforcement agency.
Among the key areas under scrutiny are:
• Repatriated Abacha loot — officials are asking Malami to explain the handling and accounting of $346.2 million recovered from Switzerland and funds linked to the Island of Jersey in the UK.
• Central Bank of Nigeria funds — including the disbursement of N4 billion from the Anchor Borrowers’ Programme.
• Multi-billion-naira private investments — notably an alleged N10 billion investment in schools, hotels, and rice mills in Kebbi State.
• Questionable deals and transactions over the years, including contentious payments linked to the Ajaokuta Steel concession, judgment debts, and other major government-related settlements.
The EFCC is also said to be probing some 46 bank accounts allegedly connected to Malami, a line of inquiry that has attracted media attention.
EFCC spokesperson Dele Oyewale declined comment when contacted about specific allegations.
Malami’s statement refuted claims that Malami operates or controls 46 bank accounts, calling such assertions “pure fiction” not supported by any official documents or lawful findings. It noted that even individuals cited in related media reports have publicly clarified that they never accused Malami of financing terrorism — a nuance the statement says was overlooked by sensational headlines.
Malami’s office highlighted his record in strengthening Nigeria’s legal framework on anti-money laundering and counter-terrorism financing during his tenure, including the establishment of the Nigerian Financial Intelligence Unit (NFIU) and the passage of relevant legislation in 2022 that contributed to Nigeria’s removal from the Financial Action Task Force (FATF) grey list.
On the specific issue of the Abacha loot recoveries, Malami’s team argues that public commentary has incorrectly conflated separate recoveries — notably $322.5 million repatriated in 2017–2018 and $321 million brought back from Jersey in 2020 — and wrongly described them as “duplicated,” a characterisation his office calls “deliberately misleading.”
Malami’s detention comes against a backdrop of heightened public scrutiny and political debate. In November 2025, he formally declared his intention to contest the 2027 governorship election in Kebbi State after leaving the All Progressives Congress (APC) for the African Democratic Congress (ADC).
Supporters and the former minister’s camp have framed the ongoing coverage as a media trial and politically motivated campaign aimed at tarnishing his reputation, urging Nigerians to disregard what they describe as sensational and unfounded reporting.
As investigations continue, the EFCC has reiterated its commitment to pursuing all leads, and Malami’s legal team maintains their client will fully defend his record. The case remains dynamic and closely watched, with daily developments expected as the inquiry progresses through December.
