December 10, (THEWILL) — The Economic and Financial Crimes Commission (EFCC) has intensified its investigation into former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, detaining him over alleged involvement in suspicious financial transactions and matters related to the management of recovered Abacha loot.
Sources within the anti-graft agency confirmed on Tuesday night that Malami remained in EFCC custody as of 10:00 p.m., after failing to meet conditions attached to bail previously granted.
The source disclosed that the former minister was initially released on bail but was re-arrested for failing to satisfy the stipulated requirements.
According to the EFCC, Malami is being investigated for multiple alleged offences, including money laundering, abuse of office, and questions surrounding the handling and disposition of funds recovered from Switzerland and the Island of Jersey in the United Kingdom.
“We have detained him over terrorism financing and the management of recovered Abacha loot. He will remain in custody until he fulfils the bail requirements,” the EFCC source said, noting that Malami is under probe for no fewer than 18 alleged offences.
Investigators are yet to determine the full amount involved, as fresh transactions and accounts continue to emerge amid the probe.
“We cannot put a figure to the amount now because new deals keep surfacing during the investigation,” the source added.
THEWILL also gathered that Malami had been directed to report daily for questioning throughout December as part of ongoing investigations.
Malami, however, has dismissed the allegations as false and politically motivated, insisting his record in office contradicts any suggestion of wrongdoing.
“For the avoidance of doubt, my public record in office stands in direct contradiction to any insinuation of complicity in terrorism financing. During my tenure as Attorney-General of the Federation and Minister of Justice, I worked with other arms of government and relevant institutions to strengthen, not weaken, Nigeria’s legal and institutional framework against money laundering and the financing of terrorism,” Malami stated in response to the EFCC invitation.
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