Malami Detained By EFCC Over Alleged Terrorism Financing And Missing Abacha Loot

The Economic and Financial Crimes Commission has detained former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), over allegations linking him to terrorism financing, money laundering, and the operation of suspicious accounts.

Investigators are probing multiple financial concerns, including an alleged N10 billion investment traced to Kebbi State and the whereabouts of two major tranches of recovered Abacha loot — $322 million returned from Switzerland and another $22 million reportedly repatriated from the Island of Jersey in the UK.

As of 10 p.m. on Tuesday, Malami remained in EFCC custody after failing to meet his bail conditions. Officials say the scope of allegations is extensive and may require several days of questioning. One of his wives is also expected to be interrogated over her alleged involvement in the handling of N4 billion released under the Central Bank of Nigeria’s Anchor Borrowers Programme.

According to an EFCC source, Malami “has a lot to clarify,” adding that some assets linked to him may be targeted for attachment pending the outcome of the investigation.