Gloria Robert, Abuja
Abubakar Malami, former Attorney-General of the Federation and Minister of Justice, is currently in the custody of the Economic and Financial Crimes Commission (EFCC) over alleged financial crimes.
Sources familiar with the investigation said Malami is being probed for about 18 alleged offences, including money laundering, abuse of office and terrorism financing.
It was gathered that the anti-graft agency has obtained a remand order to detain the former minister as investigations continue.
According to the sources, Malami is being questioned over issues relating to the recovery of 346.2 million dollars Abacha loot from Switzerland and funds repatriated from the Island of Jersey, which he reportedly failed to satisfactorily account for.
The probe is also said to cover the disbursement of N4 billion under the Anchor Borrowers’ Programme from the Central Bank of Nigeria (CBN).
Investigators are further examining Malami’s alleged N10 billion investments in schools, hotels and rice mills in Kebbi State.
It was learnt that the former minister was unable to meet his bail conditions as of late Tuesday night, resulting in his continued detention.
A source close to him disclosed that Malami was invited for questioning on Monday but arrived late in the evening, leading to his overnight stay to allow investigators to continue their interrogation.
The source added that no fewer than 46 bank accounts allegedly linked to Malami are currently under investigation as part of the EFCC’s inquiry.
When contacted, the EFCC spokesperson, Mr Dele Oyewale, declined to comment on the matter.
In November 2025, Malami had declared his interest in contesting the 2027 governorship election in Kebbi State, after resigning from the All Progressives Congress (APC) and joining the African Democratic Congress (ADC).
Malami had previously been linked to several controversial transactions during his tenure, including the payment of 496 million dollars to Global Steel Holdings Limited as settlement over the termination of the Ajaokuta Steel concession.
Other matters said to be under scrutiny include the handling of assets worth billions of naira forfeited to the EFCC by politically exposed persons, the 419 million dollars Paris Club judgment debt paid to consultants, the proposed 200 million dollars compensation to Sunrise Power over the Mambilla power project, and alleged duplicated legal fees in the transfer of 321 million dollars Abacha loot from Switzerland to Nigeria.
