EFCC Detains Abubakar Malami Over Abacha Loot, Alleged Terrorism Financing

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 large-scale money laundering.

Malami, who arrived at the EFCC headquarters earlier on Tuesday, was reportedly still in custody as of 10 p.m. after failing to meet the bail conditions set by investigators.

According to highly placed EFCC sources, the former minister is being questioned over alleged suspicious financial activities, including the operation of multiple questionable accounts and unexplained investments.

One of the major issues under probe is an estimated N10 billion investment reportedly linked to Malami in Kebbi State.

Investigators are also seeking clarification on the whereabouts of the $322 million Abacha loot repatriated from Switzerland during his tenure, as well as an additional $22 million traced to the Island of Jersey in the United Kingdom.

A senior EFCC official, who spoke on condition of anonymity, said the allegations against Malami are “extensive and complex,” adding that the interrogation may take several days before conclusions can be drawn.

Despite the growing concerns, Malami has denied any wrongdoing. He insists that his record in office contradicts any suggestion of involvement in terrorism financing or illicit financial dealings, describing the allegations as unfounded.

The EFCC is expected to release further details as investigations continue.