EFCC Detains Ex‑AGF Abubakar Malami Over Terrorism‑Financing, Abacha Loot Probe
The Economic and Financial Crimes Commission (EFCC) has detained former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami (SAN), as part of its ongoing investigation into multiple alleged offences, including terrorism financing, money laundering, abuse of office, and alleged mismanagement of recovered loot from the late military ruler Sani Abacha.
What the EFCC is investigating
According to a senior EFCC source, Malami, who had been summoned for questioning, was detained after failing to meet bail conditions when he reported to the agency this Tuesday.
The former minister is now under scrutiny for 18 separate allegations, among them: operating suspicious bank accounts; involvement in money laundering; abuse of office; and links to terrorism financing.
A key aspect of the probe concerns large sums labelled as recovered “loot”, notably monies repatriated from Swiss and Jersey (UK) accounts, allegedly linked to funds looted during the Abacha regime. The EFCC wants Malami to account for these recovered funds.
Additionally, investigators are reportedly examining Malami’s substantial investments, including a N10 billion portfolio in properties, rice mills, and hotels in Kebbi State, as well as money flows tied to various government programmes.
Ongoing Detention and Investigation
As of Tuesday night (around 10:00 p.m.), Malami was still in EFCC custody because the bail conditions granted earlier were not satisfied. He is expected to appear daily before the agency for continued questioning throughout December.
An insider stressed that the detention is not a “fresh arrest,” but part of a protracted investigation, the volume of documents and transactions under review necessitates prolonged custody to prevent interference and ensure thorough verification.
Malami’s Response
Malami has strongly denied involvement in terrorism financing or any illicit activity, calling the allegations “fabricated, politically motivated and misleading.”
He argued that during his tenure, as Nigeria’s chief law officer, he led reforms that strengthened the nation’s legal framework against money laundering and terrorism financing. Among these reforms were the creation of an independent Nigerian Financial Intelligence Unit (NFIU) and the passage of new legislation: the Money Laundering (Prevention and Prohibition) Act, 2022 and the Terrorism (Prevention and Prohibition) Act, 2022.
He maintained that engaging with various individuals or institutions as part of official duties does not amount to wrongdoing, and urged respect for due process and facts over “innuendo or guilt by association.”
What’s Next
The EFCC probe is ongoing. The agency says it will hold Malami in custody until he meets bail conditions and satisfactorily explains the flagged transactions. Meanwhile, Malami and his legal team continue to reject the allegations.
Given the high-profile nature of the former minister and the seriousness of the charges, the outcome of this investigation could have significant political and legal implications in Nigeria, especially regarding accountability for recovered assets and the fight against terrorism financing.