The Economic and Financial Crimes Commission (EFCC) has detained Nigeria’s former Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), over allegations bordering on corruption, money laundering and terrorism financing.
An EFCC source confirmed to Chronicles Reporters on Tuesday that Mr Malami remained in the custody of the anti-graft agency after failing to meet the bail conditions earlier granted to him.
According to the source, the former minister was expected to fulfil the bail terms by 10:00 p.m. on Tuesday but was unable to do so, prompting his continued detention.
“He was initially granted bail but failed to meet the conditions. As a result, he remains in our custody until he fulfils the requirements,” the official said.
The EFCC source disclosed that Mr Malami is being investigated over the alleged mismanagement of recovered Abacha loot from Switzerland and the Island of Jersey in the United Kingdom, alongside accusations of operating suspicious bank accounts.
“We have detained him over terrorism financing and issues surrounding the whereabouts of Abacha loot recovered from Switzerland and Jersey. The offences against him are many, and investigations are ongoing,” the source added.
The commission further revealed that Mr Malami is currently being investigated for no fewer than 18 alleged offences, including money laundering, abuse of office and terrorism financing. Investigators, however, said the exact amount of money involved has not yet been determined.
“We cannot put a figure to the amount now because we keep uncovering new transactions and deals as the investigation progresses,” the official said.
Investigations also showed that the former minister had been directed by the EFCC to report daily throughout December to aid ongoing interrogations.
Reacting to the allegations, Mr Malami dismissed them as false and politically motivated, insisting that his record in office contradicts the claims.
“For the avoidance of doubt, my public record stands in direct contradiction to any insinuation of complicity in terrorism financing,” he said in a statement.
He maintained that during his tenure as Attorney General of the Federation and Minister of Justice, he worked closely with relevant institutions to strengthen Nigeria’s legal and institutional frameworks against money laundering and terrorism financing.
The EFCC has yet to formally charge Mr Malami in court as investigations continue.