- Hints about revoked bail conditions
BY SEGUN ADEBAYO – The immediate past Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), has explained the circumstances surrounding his continued detention by the Economic and Financial Crimes Commission (EFCC).
Malami, who voluntarily reported to the anti-graft agency on Monday, said he was only informed that his earlier administrative bail has been revoked, despite not breaching the bail terms.
Available information indicate that former Minister is being questioned over several issues, including allegations of terrorism financing, and the ownership of 46 bank accounts.
Others are the alleged engagement of multiple legal representatives in the recovery of the $322.5 million Abacha loot, and the inappropriate utilisation of funds released under the conditional cash transfer programme.
But a statement issued Wednesday by his Special Assistant on Media, Mohammed Bello Doka, the former AGF disclosed being given new bail conditions, which he is prepared to meet once the EFCC authorises him to do so.
He dismissed allegations of terrorism financing and ownership of 46 bank accounts, describing them as “false, misleading and baseless.”
The statement said: “We state without equivocation that there is no allegation, investigation or charge of terrorism financing against Abubakar Malami, SAN, by the Economic and Financial Crimes Commission (EFCC) or by any other security, intelligence or law-enforcement agency, whether in Nigeria or abroad.
“Similarly, claims suggesting that Mr Malami operates or controls ‘46 bank accounts’ are entirely fictitious, unsupported by facts, official records or lawful findings, and merely form part of a coordinated media trial aimed at character assassination.”
Furthermore, the statement said Malami has never been questioned or confronted with issues relating to terrorism financing or alleged multiple bank accounts.
According to his Media side, “Even the retired military officer cited in recent reports explicitly clarified that he never accused Mr Malami of financing terrorism, a crucial clarification that was irresponsibly overshadowed by sensational headlines and mischievous framing.”
The statement, which also highlighted Malami’s record as Attorney-General, noted his role in strengthening Nigeria’s anti-money laundering and counter-terrorism financing framework.
It said: “During his tenure as Attorney-General, he played a leading role in strengthening Nigeria’s AML/CFT framework, including the establishment of an independent NFIU; the enactment of the Money Laundering (Prevention and Prohibition) Act, 2022; and the Terrorism (Prevention and Prohibition) Act, 2022. These reforms were instrumental to Nigeria’s eventual removal from the FATF grey list”.
On allegations of duplicated legal representation in the recovery of the Abacha loot, the statement explained that the Buhari administration rejected the initial terms presented by Swiss lawyer, Enrico Monfrini, who reportedly requested a $5 million upfront fee and a success fee of up to 40 percent.
According to him, Malami later negotiated a 5 percent all-inclusive success fee with local lawyers, saving the country between ₦76.8 billion and ₦179.2 billion at prevailing exchange rates.
The statement also addressed issues around deployment of the recovered funds, saying the Abacha loot was repatriated in tranches and used strictly in line with tripartite agreements with international partners.
Malami’s spokesman said the projects included the 2017–2018 $322 million from Switzerland disbursed through the National Social Investment Programme under World Bank and civil society monitoring, and the $321 million repatriated from Jersey in 2020, which was channelled into major infrastructure projects such as the Lagos–Ibadan Expressway, Abuja–Kano Road and the Second Niger Bridge.
On November 28, 2025, Malami, who served as Nigeria’s Attorney-General from 2015 to 2023, had confirmed receiving an EFCC invitation and pledgef on Facebook to honour it as “a law-abiding and patriotic citizen.”
However, the EFCC later said Malami’s bail was revoked because he failed to meet the required conditions while also stating that he is in temporary detention in connection with multiple investigations currently ongoing.
