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Former Attorney-General Malami Denies All EFCC Allegations, Calls Investigations a “Smear Campaign”

Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), has forcefully rejected the series of allegations levelled against him by the Economic and Financial Crimes Commission (EFCC), denouncing them as a politically motivated smear campaign.

The anti-graft agency is currently investigating the former minister for a range of alleged financial offences. As of December 13, 2025, he has spent multiple nights in EFCC custody after being unable to meet stringent bail conditions, which include providing two serving permanent secretaries as sureties and the seizure of his international passport.

Details of the EFCC Investigation

The investigation centres on several high-profile transactions from Malami's eight-year tenure under former President Muhammadu Buhari. Key allegations under scrutiny include:

*   The management and repatriation of funds from the late General Sani Abacha's loot.
*   The alleged operation of 46 suspicious bank accounts.
*   A controversial $496 million settlement paid to Global Steel Holdings.
*   His role in a $419 million Paris Club refund judgement debt and a $200 million Mambilla power project compensation.

Sources indicate the EFCC is now compiling formal charges against the former minister.

Malami’s Comprehensive Rebuttal

Through his media aide, Malami has issued a point-by-point rebuttal of all allegations. He has flatly denied any link to terrorism financing, stating no agency has ever investigated him for such a crime. He dismissed the claim of operating 46 bank accounts as "fictitious" and "unsupported by any official record," asserting the EFCC is aware of only six legitimate accounts in his name.

Regarding the Abacha loot, Malami explained that his office engaged new lawyers in 2016 after the previous Swiss lawyer reapplied for the job, a move he says saved Nigeria "tens of billions of naira" in fees. He maintained that every tranche of recovered funds was distinct and administered under separate international monitoring frameworks.

He argues that these allegations contradict his record in office, where he championed laws to strengthen Nigeria's anti-money laundering and counter-terrorism financing framework.

Political Context and Legal Standoff

The investigation unfolds against a backdrop of shifting political alliances. Malami recently defected from the ruling All Progressives Congress (APC) to the African Democratic Congress (ADC) and has declared his intention to run for Governor of Kebbi State in 2027. His legal team is reportedly seeking court intervention, arguing his continued detention is unconstitutional.

The EFCC has maintained that its actions are part of a lawful investigation. The standoff continues, with Malami vowing to cooperate with investigators while confidently asserting that "truth, law and reason will always prevail".
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