The Office of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has dismissed reports linking him to terrorism financing, alleged ownership of 46 bank accounts, and other accusations circulating in sections of the media.
In a statement, the office described the claims as “false, misleading and baseless,” insisting that no security, intelligence or law-enforcement agency in Nigeria or abroad has accused, investigated or questioned Malami over terrorism financing or multiple bank accounts.
It added that a retired military officer recently referenced in some reports had himself clarified that he never accused Malami of funding terrorism—an explanation the statement said was overshadowed by “sensational and mischievous” media framing.
The former Attorney-General’s office said Malami’s record contradicts such allegations, noting his role in strengthening Nigeria’s anti-money laundering and counter-terrorism financing framework, including the establishment of the Nigerian Financial Intelligence Unit (NFIU), passage of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022. These reforms, it added, contributed to Nigeria’s removal from the FATF grey list.
Clarification on EFCC Inquiry
According to the statement, Malami’s engagement with the EFCC was limited to clarifications on issues raised regarding an alleged duplication of the recovery of the $310 million Abacha loot, which totalled about $322.5 million with accrued interest when repatriated.
It said the EFCC reviewed two assumptions—alleged abuse of office and alleged money laundering—both of which Malami had “comprehensively demonstrated” to be unfounded. The statement argued that no duplication occurred because the funds were not lodged into the Federation Account before 2016, meaning no completed recovery existed at the time.
It further noted that Swiss lawyer Enrico Monfrini, reportedly linked to an earlier recovery effort, had formally sought re-engagement in 2016 to recover the same funds, contradicting claims that the process had been concluded. His demand for an upfront $5 million fee and a success fee of up to 40 percent was rejected by the Buhari administration, which instead engaged Nigerian lawyers at a 5 percent capped fee, saving the country an estimated ₦76.8 billion to ₦179.2 billion.
Distinct Recoveries
The statement stressed that different tranches of the Abacha loot were recovered at separate times. The $322.5 million returned from Switzerland between 2017 and 2018 was channelled through the National Social Investment Programme under World Bank monitoring, while another $321 million repatriated from Jersey in 2020 was earmarked for major infrastructure projects such as the Lagos–Ibadan Expressway, Abuja–Kano Road and the Second Niger Bridge.
It said attempts to conflate these recoveries or portray the process as duplicative were “deliberately misleading.”
The office urged Nigerians to disregard what it described as a coordinated media campaign aimed at tarnishing Malami’s reputation.
It expressed appreciation for public support and said Malami remained confident that he would triumph over “political witch-hunt, misinformation and intimidation.”
