Storm In Abuja: Malami Roars As Efcc’s “Fishing Expedition” Collapses!
By Paul Ebi
In a forceful pushback against what it describes as a “coordinated media trial”, the office of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has publicly dismissed claims linking him to terrorism financing, 46 secret bank accounts and alleged misconduct in the recovery of the Abacha loot.
In a statement issued on Wednesday and signed by Mohammed Bello Doka, Special Assistant on Media to the former AGF, the camp of Mr. Malami described the viral allegations as “false, misleading, baseless and engineered for character assassination.”
“NO SUCH INVESTIGATION EXISTS” — MALAMI CAMP HITS BACK
According to the statement, neither the Economic and Financial Crimes Commission (EFCC) nor any domestic or foreign security agency has ever accused, questioned or investigated Mr. Malami for terrorism financing.
> “There is no allegation, investigation or charge of terrorism financing against Abubakar Malami, SAN… Claims suggesting that he operates ‘46 bank accounts’ are fictitious and unsupported by any official records,” the statement read.
The office also noted that even the retired military officer cited in recent reports explicitly stated he never accused Malami of financing terrorism — a clarification the camp says was “buried under sensational, mischievous headlines.”
MALAMI CITES OWN ANTI-TERRORISM REFORMS
Taking aim at what it called “malicious contradictions,” the former AGF’s office pointed to Malami’s role in strengthening Nigeria’s anti-money laundering and counter-terrorism financing framework.
Among the reforms credited to him were:
Establishment of the Nigerian Financial Intelligence Unit (NFIU) as an independent entity
Enactment of the Money Laundering (Prevention and Prohibition) Act, 2022
Passage of the Terrorism (Prevention and Prohibition) Act, 2022
These steps, the statement highlighted, contributed directly to Nigeria’s removal from the FATF grey list.
THE EFCC ISSUE: “NOTHING TO DO WITH TERRORISM”
Malami’s only engagement with the EFCC, according to his media aide, revolved around questions about a supposed duplication in the recovery of the $310 million Abacha loot, which accrued to about $322.5 million at the time of its repatriation.
The EFCC reportedly raised two issues:
1. Alleged abuse of office
2. Alleged money laundering
But Malami, according to the statement, provided comprehensive responses dismissing both allegations as “illogical” and “unsupported by facts.”
HOW THE LOOT WAS ACTUALLY RECOVERED
The statement outlined a detailed timeline to counter claims of duplicationAs of 2016, no Abacha loot had been lodged into the Federation Account, meaning no completed recovery existed.
Swiss lawyer Enrico Monfrini, who was widely referenced in public discussions, formally applied in 2016 to be re-engaged to recover the same funds — contradicting claims he had completed the task years earlier.
Monfrini demanded a $5 million upfront fee and success fees of up to 40%, later reduced to 20%, which the Buhari administration rejected.
Instead, Nigerian lawyers were engaged on a 5% success fee with zero advance payment, saving the country between ₦76.8 billion and ₦179.2 billion.
DISTINCT TRANCHES OF ABACHA LOOT — NOT DUPLICATION
Malami’s office clarified that the following recoveries were separate and should not be conflated:
$322.5 million from Switzerland (2017–2018), used for Conditional Cash Transfers under World Bank monitoring.
$321 million from Jersey (2020), earmarked for the Lagos–Ibadan Expressway, Abuja–Kano Road and Second Niger Bridge.
Any attempt to merge these recoveries, the statement insisted, is “deliberately misleading.”
“IGNORE THE MEDIA TRIAL” — DOKA URGES NIGERIANS
The former AGF’s office urged Nigerians to resist what it described as a politically motivated smear campaign.
> “We urge Nigerians of goodwill to disregard these concocted allegations and sensational reports designed to malign the person and record of Abubakar Malami, SAN.”
Malami’s team expressed gratitude to supporters and expressed confidence that the former minister will “emerge stronger” as the alleged political witch-hunt unfolds.
The statement concluded by reaffirming Malami’s readiness to defend his integrity and his legacy in public service.
