By Erewunmi Peace

The Economic and Financial Crimes Commission (EFCC) has taken custody of Abubakar Malami (SAN), former Attorney-General of the Federation, over allegations including terrorism financing, money laundering, and mismanagement of recovered funds.

According to EFCC sources, Malami is currently under investigation for 18 separate offences, which reportedly include:

Alleged terrorism financing

Money laundering through multiple bank accounts

Mismanagement of public funds, including proceeds from the Abacha loot

Questionable asset acquisitions and investments

Malami reportedly failed to meet EFCC’s bail conditions and remains in custody as the investigation continues.

EFCC said the detention is part of its ongoing probe into suspicious financial activities connected to Malami’s tenure as AGF, stressing that the investigation is in line with Nigeria’s anti-money laundering and anti-terrorism laws.

While EFCC’s actions have been widely reported, it is important to note that these are allegations, and Malami has not been convicted in any court. Malami has publicly denied wrongdoing, describing the allegations as politically motivated and unsubstantiated.

This development marks one of the most high-profile financial crime investigations involving a former senior government official in recent times. Observers say the outcome could have far-reaching implications for Nigeria’s fight against corruption and terrorism financing.