Buhari’s Ex-minister Malami Explains What EFCC Grilled Him About, Says It's Not Terrorism Financing
- Former Minister of Justice Abubakar Malami has denied reports that the EFCC questioned him over terrorism financing, money laundering, or multiple bank accounts
- Malami explained that the agency only sought clarification on an alleged duplication in Abacha loot recovery during the Buhari regime
- EFCC detained Malami in custody for failing to meet bail conditions and was being investigated for 18 offences, including money laundering and abuse of office
Legit.ng's Muslim Muhammad Yusuf is a 2025 Wole Soyinka Award-winning journalist with over 8 years of experience in investigative reporting, human rights, politics, governance and accountability in Nigeria.
Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has dismissed reports claiming that the Economic and Financial Crimes Commission (EFCC) questioned him over terrorism financing, multiple bank accounts, or money laundering.
In a statement issued on Wednesday by his media office, the former AGF said his only interaction with the EFCC was to clarify an allegation of duplication in the recovery of the Abacha loot during the late Muhammadu Buhari administration.
Source: Twitter
Malami described the trending allegations in some media outlets as false, misleading and baseless, insisting that no security, intelligence, or law-enforcement body in Nigeria or abroad had ever accused or investigated him for terrorism financing.
He explained that the EFCC invited him strictly to address concerns regarding the $310 million Abacha loot recovered under the previous administration.
According to him, after reviewing two assumptions, abuse of office and money laundering, the EFCC dropped both angles when he provided detailed explanations.
Malami: What I told EFCC
Malami said he demonstrated to investigators that there was no duplication in the recovery process because the funds in question had not been lodged into the Federation Account before 2016, adding that the earlier recovery efforts were never completed.
He referenced Swiss lawyer Enrico Monfrini’s 2016 request to be re-engaged on the matter, which he said proved that the recovery process before the Buhari government was still open.
Malami noted that the administration rejected Monfrini’s proposed $5 million upfront fee and success fee of up to 40 per cent, choosing instead Nigerian lawyers whose cost was capped at 5 per cent, saving the country billions in the process.
According to him, different tranches of the loot were recovered at different times.
He noted that the $322.5 million repatriated from Switzerland between 2017 and 2018 was channelled to the National Social Investment Programme under World Bank supervision, while the $321 million returned from Jersey in 2020 funded key infrastructure projects including the Lagos–Ibadan Expressway, the Abuja–Kano road, and the Second Niger Bridge.
He described attempts to conflate the separate recoveries or portray them as duplicated as deliberate mischief.
No agency ever questioned me on terrorism financing - Malami
Malami also reacted to reports linking him to terrorism financing, saying the retired military officer cited in the claims had already publicly clarified that he never accused him of funding terrorism, but the correction was overshadowed by sensational coverage.
Source: Facebook
He maintained that he contributed significantly to Nigeria’s anti-corruption reforms, including the establishment of the Nigerian Financial Intelligence Unit and the enactment of the 2022 Anti-Money Laundering/Counter-Terrorism Financing laws that helped Nigeria exit the FATF grey list.
Malami urged Nigerians to ignore what he described as a coordinated smear campaign.
His response came as the EFCC confirmed on Tuesday that the former minister remained in detention after failing to meet his bail conditions.
An EFCC source added that Malami was being investigated for 18 different offences, including money laundering, abuse of office, and alleged terrorism financing, with investigators still uncovering more details.
EFCC grilled former AGF Abubakar Malami
Legit.ng reports that the EFCC has summoned former Attorney General Abubakar Malami for an interview without disclosing the specific issue under investigation.
Malami confirmed receiving the letter and pledged to cooperate fully with the commission.
The invitation referenced Section 38 of the EFCC Establishment Act and scheduled the meeting at the agency’s Jabi headquarters.
EFCC declares former Buhari minister wanted
Earlier, Legit.ng reported that the Economic and Financial Crimes Commission (EFCC) has declared Timipre Sylva, a former Minister of State, Petroleum Resources, and former Governor of Bayelsa State, wanted.
The EFCC said Sylva is wanted over an alleged case of conspiracy and dishonest conversion of $14,859,257.
According to the EFCC, the money is "part of funds injected by the Nigerian Content Development and Monitoring Board (NCDMB) into Atlantic International Refinery and Petrochemical Limited for the construction of a Refinery".
Source: Legit.ng
