Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), spent Monday night in the custody of the Economic and Financial Crimes Commission (EFCC) as investigators probed multiple high-profile financial transactions linked to his tenure.
Malami was reportedly seeking two permanent secretaries to serve as sureties to meet the bail conditions set by the anti-graft agency. He had arrived late for his scheduled interrogation on Monday, prompting EFCC officials to continue questioning him into the night.
Sources revealed that the EFCC is now examining 46 bank accounts allegedly tied to Malami, revisiting controversial transactions from his time in office, including:
- The $496 million payment to Global Steel Holdings Ltd (GSHL) over the Ajaokuta Steel concession, despite the company previously waiving claims.
- The sale of multi-billion-naira assets forfeited to the EFCC, which reportedly involved conflicting valuations.
- A $419 million judgment debt awarded to consultants who claimed to have facilitated the Paris Club refund.
- The $200 million compensation to Sunrise Power under the disputed Mambilla Power Project contract.
- Alleged duplication of legal fees related to the $321 million transfer of Abacha loot from Switzerland.
Malami has repeatedly dismissed EFCC allegations, calling them “baseless, illogical, and devoid of substance,” and maintains that the accusations contradict facts surrounding the recovery of Abacha funds.
Despite the ongoing investigation, Malami declared his intention to contest the 2027 governorship election in Kebbi State. He resigned from the APC in July before joining the African Democratic Congress (ADC), citing personal reflection and concern for national development as reasons for his defection.
