The currently detained former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has rejected fresh allegations linking him to terrorism financing and claims that he operated 46 bank accounts, describing them as baseless inventions circulated to mislead the public.
In a statement on Wednesday, his media aide, Mohammed Bello Doka, said the reports were part of a “coordinated media trial” aimed at maligning the former minister and creating false impressions about ongoing engagements with the Economic and Financial Crimes Commission (EFCC).
Doka stressed that at no time has Malami been questioned, investigated or accused of terrorism financing by the EFCC or any security or intelligence agency in Nigeria or abroad. He added that the allegation regarding multiple bank accounts is unsupported by any official record or credible investigative finding.
According to him, even the retired military officer whose comments were used to fuel the story had clarified that he never accused Malami of financing terrorism — a clarification overshadowed by “mischievous and sensationalised reporting.”
Track Record Contradicts Allegations, Says Aide
Doka said Malami’s work as Attorney-General contradicts any insinuation of complicity, noting his leadership in advancing the country’s anti-money laundering and counter-terrorism financing framework. These included the establishment of an independent Nigerian Financial Intelligence Unit (NFIU), and the enactment of the Money Laundering (Prevention and Prohibition) Act 2022 and the Terrorism (Prevention and Prohibition) Act 2022.
He said these reforms contributed significantly to Nigeria’s removal from the FATF grey list, further disproving attempts to link Malami to wrongdoing.
EFCC Engagement Limited to Abacha Loot Queries
The statement clarified that Malami’s recent interaction with the EFCC was strictly in respect of issues raised over the recovery of the $310 million Abacha loot — which, with interest, amounted to about $322.5 million when repatriated.
Doka said the EFCC’s questions revolved around alleged abuse of office and money laundering, but insisted the allegations were unfounded.
He noted that in law, a recovery is only complete upon lodgement into the Federation Account, which had not occurred as of 2016. Therefore, he argued, the notion of duplication was impossible.
He further disclosed that the Swiss lawyer, Enrico Monfrini — portrayed in parts of the media as having concluded the recovery years earlier — had in December 2016 formally sought re-engagement to recover the same funds, contradicting claims of prior completion.
Monfrini’s demands for a $5 million upfront fee and up to 40 per cent success fee (later reduced to 20 per cent) were rejected by the Buhari administration, which instead engaged Nigerian lawyers at an all-inclusive 5 per cent success fee, saving the country billions of naira.
‘Conflating Two Distinct Recoveries is Deceptive’
Doka clarified that public commentary had wrongly merged two separate tranches of recovered Abacha funds:
The $322.5 million repatriated from Switzerland between 2017 and 2018, which was channelled through the Conditional Cash Transfer programme;
The $321 million recovered from Jersey in 2020, allocated to major infrastructure projects such as the Lagos–Ibadan Expressway, Abuja–Kano Road and Second Niger Bridge.
“These were completely different recoveries with separate monitoring frameworks,” he said.
‘Media Trial Will Not Stand’
Doka urged Nigerians to disregard reports he described as concocted and politically motivated.
“We are confident that truth and due process will prevail over mischief, misinformation and intimidation,” he said, thanking Nigerians for their support and assuring that Malami remains committed to accountability and transparency.
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