EFCC detains Abubakar Malami

The Economic and Financial Crimes Commission (EFCC) has detained former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), over allegations bordering on terrorism financing and money laundering

Malami is being questioned on several issues, including the operation of suspicious accounts, an alleged N10 billion investment traced to him in Kebbi State, and the whereabouts of $322 million Abacha loot recovered from Switzerland, as well as another $22 million reportedly returned from the Island of Jersey in the UK.

Sources within the EFCC said the allegations are extensive and will require days of interrogation. As of 10 p.m. on Tuesday, Malami was still in custody after failing to meet his bail conditions. The agency is also expected to question one of his wives over her alleged role in the disbursement of N4 billion Anchor Borrowers Programme funds from the Central Bank of Nigeria.

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

The source said: “We have detained the ex-minister for terrorism financing and the whereabouts of Abacha loot recovered from Switzerland and the Island of Jersey in the UK.

“His sudden investment of N10 billion 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 (CBN).

“He has a lot to clarify, but he has not been able to meet bail conditions.”

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