EFCC detains former AGF Malami over alleged terror funding links
Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), is being held by the Economic and Financial Crimes Commission (EFCC) as investigators probe allegations of terrorism financing, money laundering, and questionable handling of recovered public assets.
Malami, who appeared at the EFCC headquarters earlier in the week, had not been released as of 10pm on Tuesday after he failed to meet the bail requirements set by the agency. Sources within the commission say he may remain in custody for several more days due to the “seriousness and volume” of allegations under review.
Investigators are reportedly questioning him over multiple issues, including:
Suspicious accounts allegedly linked to terrorism financing
The whereabouts of $322 million Abacha loot repatriated from Switzerland
Accountability for another $22 million recovered from Jersey Island
A controversial N10 billion investment in Kebbi State believed to be illegally sourced
A N4 billion Anchor Borrowers’ Programme payment in which one of his wives may be questioned
A senior EFCC official confirmed the broad scope of the inquiry.
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“We have detained the ex-minister for issues relating to terrorism financing and missing Abacha loot from Switzerland and Jersey,” the source stated. “The N10 billion he invested in Kebbi State is under scrutiny—we may even move to attach some assets. His wife is also likely to be invited over the N4 billion Anchor Borrowers’ funds. He has a lot of questions to answer but has yet to meet bail conditions.”
Malami, however, has dismissed the allegations as false, politically motivated, and inconsistent with his years in public service. In a detailed statement published on X, he insisted that he has never been questioned or investigated for terrorism financing by any Nigerian or international security agency.
“I state clearly and unequivocally that I have never at any time been accused, invited, interrogated, investigated, or charged by any security, law-enforcement, regulatory, or intelligence agency within or outside Nigeria in respect of terrorism financing,” he said.
He added that the “retired military officer” cited as a source in earlier reports never directly accused him, but merely referenced individuals who had business dealings with several others. According to Malami, political opponents are manipulating public narratives to “insinuate, without evidence,” that he is linked to terrorism financing.
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“Terrorism financing is a grave crime with devastating consequences. Any attempt, whether by direct allegation or indirect innuendo, to associate an individual with such an offence must be based on verifiable facts, not speculation,” he noted.
Malami also highlighted his role in reforms that facilitated Nigeria’s removal from the Financial Action Task Force (FATF) grey list, insisting that his record “contradicts any insinuation of complicity.”
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