The Economic and Financial Crimes Commission (EFCC) has detained former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), over allegations of terrorism financing and multi-billion corruption.
Malami is being investigated for allegedly investing N10 billion in Kebbi State, and failing to account for the whereabouts of $322 million Abacha loot recovered from Switzerland and $22 million from the Island of Jersey in the UK. The EFCC is also probing his role in the disbursement of N4 billion Anchor Borrowers' Programme funds from the Central Bank of Nigeria (CBN) ¹ ² ³.
*Allegations Against Malami:*
- _Terrorism Financing_: Malami is accused of financing terrorism, although he denies the allegations, citing his role in Nigeria's anti-money laundering and counter-terrorism financing reforms.
- _Money Laundering_: The EFCC is investigating Malami's operation of suspicious accounts and his alleged N10 billion investments in Kebbi State.
- _Abacha Loot_: Malami is being questioned about the whereabouts of the recovered Abacha loot.
Malami has rejected the allegations, stating that his public record contradicts any insinuation of complicity in terrorism financing. He remains in EFCC custody as he has not met his bail conditions ¹ ².
