1.12.2025
FORMER Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said claims by the Economic and Financial Crimes Commission (EFCC) that he duplicated the recovery of the $310m Abacha loot are “baseless, illogical and lacking in substance.”
Mr. Malami’s outburst comes after the EFCC had his traveling document confiscated and his movement within the country restricted with an order for him to report to the EFCC headquarters on a daily basis for one month. This was after he was quizzed on November 28 concerning his handling of about $490m linked to the late Head of State, General Sani Abacha.
“The EFCC informed me that its inquiry relates to an alleged duplication in the recovery of the $310 million Abacha loot, which by accrual of interest rose to about $322.5million as of the time I eventually succeeded in recovering the funds for the Federal Government and, flowing from that assumption, two allegations were majorly raised, namely: abuse of office, and money laundering,” Malami said in a statement.
He argued that the allegation “collapses when subjected to facts and elementary logic.” According to him, no funds had been lodged into the Federation Account as of 2016 when the Buhari administration revived negotiations for the repatriation of the money, which had accrued to about $322.5 million with interest.
“It is trite to state from the onset that recovery of illicit funds can legally be said to have been completed upon the actual lodgment of recovered funds into the Federation Account.
“As of 2016, when the Buhari administration initiated the process relating to the said $310 million (later $322.5 million with interest), there was no lodgment of any such funds into the Federation Account. There was, therefore, no completed recovery in existence, and nothing whatsoever to duplicate.”