The Digest:
Former Attorney-General of the Federation, Abubakar Malami (SAN), has denied all allegations of terrorism financing and the ownership of 46 bank accounts, as he remains in EFCC custody days after voluntarily honouring an invitation. Malami claims his administrative bail was revoked without a specific reason, despite not breaching its terms.
Key Points:
- Malami reported to the EFCC on Monday and has since been detained over investigations into terrorism financing, multiple bank accounts, and the legal handling of recovered Abacha loot.
- His aide stated the former minister was only told his bail had been revoked and was given new conditions, which he is ready to meet if authorized.
- The statement categorically denied any terrorism financing allegations, calling them "false, misleading and baseless," and refuted claims of operating 46 accounts as "entirely fictitious."
- It highlighted Malami's role in strengthening Nigeria's anti-money laundering and counter-terrorism laws during his tenure as AGF.
- Regarding the $322.5 million Abacha loot, Malami’s aide defended the decision to engage local lawyers at a 5% success fee, saving the country an estimated ₦76.8–₦179.2 billion.
- The funds were said to have been used strictly under international supervision for social programs and infrastructure like the Second Niger Bridge.
- The EFCC maintains that Malami’s bail was revoked for failing to meet conditions and that he is held in connection with multiple ongoing probes.
Sources: The Cable, Daily Trust
