Ex-AGF Malami Detained for Two Days as EFCC Probes ‘Terrorism Financing’, N10bn Kebbi ‘Slush Fund’ in Multi-Million Dollar Scandal

By Tgnews Reporter

Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), is spending his second consecutive night in the custody of the Economic and Financial Crimes Commission (EFCC), facing a barrage of allegations that could redefine his legacy from anti-corruption crusader to accused enabler of terror.

The EFCC, Nigeria’s premier anti-graft agency, has secured a court remand order to hold Malami amid an expansive investigation into 18 serious offences, including money laundering, abuse of office, and most explosively terrorism financing.

Sources within the commission revealed that Malami, who voluntarily honored an invitation for questioning on Tuesday, was initially granted bail but failed to meet the stringent conditions, leading to his overnight detention at the EFCC’s Abuja headquarters.

At the heart of the probe are murky financial dealings tied to Malami’s tenure under the Buhari administration (2015–2023), where he oversaw landmark recoveries of looted funds.

Investigators are zeroing in on the whereabouts of approximately $322 million in Abacha-era loot repatriated from a Swiss account, as well as $22 million recovered from the Island of Jersey in the UK—funds that allegedly vanished into opaque channels under his watch.

Adding fuel to the fire, the EFCC is scrutinizing a suspicious N10 billion investment in Kebbi State projects, which Malami is accused of funneling through dubious accounts, alongside broader claims of enabling terror networks through lax oversight.

“We have detained him over terrorism financing and the whereabouts of Abacha loot… Presently, we are investigating him for 18 different offences,” an EFCC insider told Punch Newspapers, emphasizing that the probe is uncovering layers of “deals” as it deepens.

The allegations echo a recent Sahara Reporters exposé linking Malami to terror suspects and financiers, including pressure to downgrade charges against high-profile figures to mere money laundering—potentially shielding them from terrorism trials.

Malami, 65, has vehemently denied the accusations, portraying himself as a bulwark against such crimes.

In a statement circulated via allies late Tuesday, he highlighted his instrumental role in Nigeria’s exit from the Financial Action Task Force (FATF) grey list, crediting reforms like the Terrorism (Prevention and Prohibition) Act of 2022. “During my tenure, I worked tirelessly to strengthen—not weaken—our framework against money laundering and terrorism financing,” he asserted, dismissing the probe as politically motivated.

This marks his second EFCC grilling in under two weeks, signaling a relentless pursuit by the agency under its new leadership.

Legal experts, however, caution that the case’s complexity could drag on, potentially tying into broader indictments of Buhari-era officials. The EFCC has yet to file formal charges, but sources indicate interrogations will intensify, with forensic audits of Malami’s asset declarations and offshore links on the horizon.