Former AGF Abubakar Malami spent Monday night in EFCC custody as investigators probe 46 bank accounts and revisit high-profile transactions from his time in office
Malami Spends Night in EFCC Custody as Probe Expands to 46 Bank Accounts
Former Attorney-General of the Federation (AGF), Abubakar Malami, spent Monday night at the headquarters of the Economic and Financial Crimes Commission (EFCC) as investigators intensified interrogation into a deepening financial probe.
According to information obtained by TheCable, Malami honoured an invitation late on Monday evening, resulting in an overnight stay so questioning could continue.
An associate of the former minister confirmed that at least 46 bank accounts allegedly linked to him have become a major focus of the ongoing investigation. Malami is now expected to report to the EFCC daily as the inquiry progresses.
This development follows his earlier appearance before the anti-graft agency on November 29, after which he described the session as “successful”, insisting that the allegations trailing him were “fabricated”.
The EFCC is revisiting several controversial, high-value transactions that occurred during Malami’s time as President Muhammadu Buhari’s chief law officer. These include:
- The $496 million payment to Global Steel Holdings Ltd over the Ajaokuta Steel concession — despite the company having previously waived its claims.
- Management of multi-billion-naira forfeited assets seized from politically exposed persons.
- The $419 million Paris Club refund judgment debt awarded to consultants.
- A $200 million compensation agreement with Sunrise Power over the Mambilla power project dispute.
- Alleged duplicated legal fees in the repatriation of the $321 million Abacha loot from Switzerland.
Meanwhile, Malami — who defected from the APC to the ADC in July — recently declared his ambition to contest the 2027 Kebbi governorship election, saying his decision was driven by national hardship and personal conviction. Read More
