The Economic and Financial Crimes Commission (EFCC) has taken into custody a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), over grave allegations bordering on terrorism financing and large-scale money laundering.
Sources within the anti-graft agency disclosed that Malami is being investigated over suspicious financial activities, including the operation of questionable bank accounts and massive investments reportedly worth about ₦10 billion in Kebbi State.
Investigators are also probing the whereabouts of $322 million linked to the infamous Abacha loot recovered from Switzerland, as well as an additional $22 million traced to the Island of Jersey in the United Kingdom. These funds, the EFCC believes, are central to the unfolding investigation.
As of 10pm on Tuesday, Malami remained in EFCC custody after reportedly failing to meet the conditions attached to his bail.
However, the former justice minister has denied any wrongdoing, insisting that his service record in public office contradicts all claims linking him to terrorism financing or financial impropriety.
A senior EFCC official revealed that the scope of the allegations is wide and would require several days of intensive interrogation. According to the source, the commission is also considering placing interim restrictions on some of Malami’s assets as investigations deepen.
In a further twist, the EFCC is said to be preparing to question one of Malami’s wives over her alleged involvement in the disbursement of ₦4 billion under the Central Bank of Nigeria’s Anchor Borrowers’ Programme.
The commission has vowed to pursue the case to its logical conclusion, as public attention continues to mount over the explosive allegations.
