The EFCC has placed former Attorney General Abubakar Malami at the centre of an ongoing corruption investigation after uncovering assets estimated at over ₦200 billion. The properties were allegedly acquired during his years in office between 2015 and 2023. Following these discoveries, Malami was detained as investigators prepared charges against him ahead of his arraignment in Abuja.
One part of the investigation is linked to the Paris Club refund paid to states. During his tenure, Malami supported deductions from state allocations to settle consultant fees. This decision drew strong opposition from several governors, who later accused him of using his position for personal gain.
Investigators are also examining transactions tied to the Central Bank of Nigeria’s Anchor Borrowers Programme. According to findings, a loan of about ₦4 billion was reportedly obtained under the name of one of Malami’s wives and was not repaid. This transaction has now been included among the charges being prepared by the EFCC.
Another focus of the probe involves funds recovered from the Abacha loot. Although foreign lawyers had already been paid recovery fees before 2015, Malami approved additional payments to local lawyers from the recovered money. Authorities allege that parts of these payments were diverted back to him, leading to further financial loss for the country.
Malami has rejected all allegations, describing the investigation as politically motivated. His media team maintains that he will contest the claims in court, as the EFCC continues to review assets and financial dealings connected to his period as attorney general.
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