* As commission releases him on administrative bail
The Economic and Financial Crimes Commission(EFCC) has quizzed a former Attorney-General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami (SAN), following his alleged involvement in fraud and corrupt activities while in office.
Malami was said to have arrived at the commission on Friday to honour the invitation extended to him in private while he decided to make it public before his arrival at the headquarters of the agency in Abuja.
A top source at the EFCC also confided in TheIdeal News that Malami was writing a statement before the operatives of the commission last night, saying that he might be granted an administrative bail on self recognition as the former chief law officer of the federation.
The source said, “ Yes. Former AGF Malami is here with us. He is writing statement before the operatives over his activities while in office. We have many allegations against him. We have not accused him of any wrongdoing at this stage as our investigation is still ongoing. Please note that he also interacted with our operatives.
“As a former AGF, we gave him the necessary courtesy and we are professional in our dealings with him. We respected the confidentiality of his appearance. But he decided to go public. We have no choice than to explain to Nigerians what he came to do and our findings as from Monday”
When asked whether Malami would be detained in view of the contentious issues against him, the source said, “ As the former chief law officer of the federation, he may be granted an administrative bail on self recognition”.
When contacted, the EFCC’s Head of Media and Publicity, Dele Oyewale, declined to comment on the matter.
TheIdeal News later learnt that Malami was released on bail last night while two permanent secretaries stood as sureties for him in order to perfect the bail conditions.
Confirming his release in a statement on his X, Malami said his engagement with the anti-graft agency “was successful”, adding that he has been scheduled for “further engagement.”
He said, “In line with my undertaking to keep Nigerians updated on my invitation by EFCC, I give glory to Allah for his divine intervention.
“The engagement was successful and I am eventually released while on an appointment for further engagement as the truth relating to the fabricated allegations against me continue to unfold.”
Incidentally, Malami had personally confirmed his invitation on his X handle on Friday but failed to specify why he was invited or when he would appear before the commission.
It is instructive to note that Malami decided to go public as a kind of pre-emptive move to beat the EFCC to its invitation and reduce the essence of a summon by the commission.
In what can be regarded as grandstanding over the EFCC’s invitation, Malami said: “This is to confirm that that I have been invited by the EFCC. As a law-abiding and patriotic citizen, I hereby reaffirm my commitment to honour the invitation.
“I understand the spirit of accountability and transparency in public service -the principles that I both advocate and champion.
“Rooted in public service and in the spirit of transparency and accountability, I am committed to sharing with the Nigerian public the developments as they unfold.”
For the record, Malami was the Attorney General of the Federation (AGF) and the Minister of Justice to the late former President Muhammadu Buhari for eight years and served between 2015 to 2023.
Malami faces 5 major probes
Meanwhile, Malami is set to face EFCC investigators over about five major transactions carried out during his eight years in office, TheCable reports
According to senior government sources, the ongoing review targets some of the most controversial financial and legal decisions executed under Malami’s watch, involving hundreds of millions of dollars and assets valued in billions of naira.
TheCable further reports that one of the transactions under scrutiny is the $496 million settlement paid to Global Steel Holdings Limited (GSHL) for the failed Ajaokuta Steel concession. The payment was made despite reports that the Indian firm had, years earlier, waived claims to compensation — a development that continues to puzzle both industry experts and officials familiar with the matter.
Investigators are also probing Malami’s involvement in the disposal of high-value assets forfeited to the EFCC by politically exposed persons (PEPs). It is important to note that the Federal Ministry of Justice under his watch, assumed control of the sale process, raising concerns about transparency, due process, and potential overreach into the EFCC’s statutory functions.
Another major red flag is Malami’s role in the controversial $419 million judgment debt awarded to consultants who claimed to have facilitated the Paris Club refunds to state governments. The approval of the payments — which were to be deducted from federal allocations to the states — provoked fierce resistance from governors, who questioned both the legitimacy of the claims and the legal basis for the deductions.
The probe also covers Malami’s handling of negotiations with Sunrise Power, the company locked in a dispute with the federal government over the stalled Mambilla hydropower project. A reported $200 million compensation agreement offered to the firm is one of the issues investigators are examining, particularly the process that produced the settlement.
The final strand of the investigation concerns allegations of duplicated legal fees in the repatriation of the $321 million Abacha loot from Switzerland. Multiple claims and the involvement of intermediaries raised suspicions that the government may have paid more than once for the same legal work.
Sources said investigators are currently gathering documents, payment records, internal memos, legal opinions, and approvals relating to the five transactions. Invitations for questioning are expected to be issued once the document review is concluded.
But Malami has previously defended many of these decisions as being in Nigeria’s best interest.
