Ongoing Investigation Keeps Abubakar Malami In EFCC Custody For Third Consecutive Day

According to Ireporter Online, former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), has remained in the custody of the Economic and Financial Crimes Commission for a third consecutive night. The former minister, who is facing an extensive probe over alleged financial misconduct, is reportedly yet to fulfil the bail conditions set by the anti-graft commission.

Sources within the agency disclosed that Malami has been held since Monday as investigations intensify into allegations bordering on money laundering, suspicious account operations, abuse of office, and other related offences. An EFCC official, who spoke on condition of anonymity, confirmed that the investigation remains active, stating that the former minister is being questioned over “about 18 offences.”

Another source noted that Malami’s continued stay at the commission’s headquarters stems from his inability to meet his bail terms. The official added that the ongoing probe covers a wide range of allegations, including terrorism financing, the management of recovered Abacha loot from Switzerland and the Island of Jersey, as well as the source of an alleged N10 billion investment portfolio linked to him in Kebbi State. The commission is also expected to question one of his wives over the reported N4 billion Anchor Borrowers Programme funds issued by the Central Bank of Nigeria.

However, Malami has strongly denied claims circulating in parts of the media suggesting that he is under investigation for terrorism financing or that he operated 46 bank accounts. In a statement issued by his Media Assistant, Mohammed Doka, the former minister described the reports as entirely false and part of a coordinated attempt to tarnish his reputation. The statement stressed that Malami has never been investigated by any security or law-enforcement agency, either in Nigeria or abroad, over terrorism financing or related activities.

Doka further debunked claims that Malami controls dozens of bank accounts, describing the allegations as fictitious and unsupported by any credible records. He emphasized that even individuals referenced in the earlier reports had clarified that they never accused Malami of terrorism financing, suggesting that the publication involved sensationalised framing. The statement insisted that Malami’s record in public service reflects his commitment to strengthening Nigeria’s anti-money laundering and counter-terrorism frameworks, including his role in establishing an independent Nigerian Financial Intelligence Unit.