- Malami spends third night in EFCC custody after failing to meet bail.
- Investigators probe allegations from money laundering to asset questions.
- Malami denies all claims, calling reports false and politically driven.
A former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has spent his third night in the custody of the Economic and Financial Crimes Commission after failing to meet the bail conditions set by the agency.
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EKO HOT BLOG reports that the senior lawyer has been held since Monday as investigators probe allegations linked to money laundering, suspicious financial accounts and other related offences. An EFCC source confirmed to Leadership that “he has been in detention since Monday, and the investigation is ongoing.”
Another official said Malami remained at the EFCC headquarters because he had not met the bail terms. The source added, “The former minister is still with us. We are still investigating him for about 18 offences. You know that he was granted bail but didn’t meet the conditions. He is being investigated for money laundering, terrorism financing and abuse of office, among many others.”
The source also disclosed that the commission is examining several other allegations, including matters involving recovered Abacha loot from Switzerland and Jersey, as well as investments allegedly linked to Malami. The official stated, “His sudden wealth of N10 billion investments in Kebbi State is under investigation. We may attach some of these assets. We are likely to interrogate one of his wives on her role in the N4 billion Anchor Borrowers cash advanced by the Central Bank of Nigeria. He has a lot to clarify, but he has not been able to meet bail conditions. He might be with us until he fulfils these.”
Malami, however, has strongly denied the claims. In a statement issued by his Media Assistant, Mohammed Doka, he dismissed reports that he is being investigated for terrorism financing or linked to 46 bank accounts. The statement described the allegations as false.
Doka said, “The Office of the former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, wishes to categorically refute recent allegations circulating in parts of the media regarding terrorism financing, the existence of purported 46 bank accounts linked to Malami, and other unfounded insinuations, all of which are false, misleading and baseless.”
He added that no security or law enforcement agency, locally or internationally, has investigated Malami for terrorism financing or similar offences. The statement further read, “Claims suggesting that Mr Malami operates or controls 46 bank accounts are entirely fictitious, unsupported by facts, official records or lawful findings, and merely form part of a coordinated media trial aimed at character assassination.”
Doka noted that Malami has not been questioned or confronted with any allegation related to terrorism financing. He stressed that even the retired military officer cited in recent reports clarified that he never accused Malami of such activities.
He added that Malami’s role in strengthening Nigeria’s anti-money laundering and counter-terrorism financing systems, including supporting the establishment of the Nigerian Financial Intelligence Unit, contradicts the claims being circulated.
