Abubakar Malami
By Victory Oghene
Former Attorney-General of the Federation, Abubakar Malami, spent Monday night in the custody of the Economic and Financial Crimes Commission (EFCC), as investigators intensified questioning over a widening financial probe.
According to information obtained by TheCable, Malami honoured an invitation late in the evening, prompting an overnight stay to continue responding to queries. An associate confirmed that at least 46 bank accounts allegedly connected to the former minister form a central focus of the investigation.
Following an earlier session on November 29, Malami had described the interaction with investigators as “successful”, insisting that allegations against him were “fabricated”.
Key Deals Under Scrutiny
The EFCC is revisiting several high-value transactions tied to Malami during his tenure under the Buhari administration, including:
The $496 million payout to Global Steel Holdings Ltd over the Ajaokuta Steel concession despite the firm previously waiving claims.
Management of multi-billion-naira forfeited assets seized from politically exposed persons.
The controversial $419 million Paris Club refund judgment debt awarded to consultants.
A $200 million compensation agreement with Sunrise Power over the Mambilla project dispute.
Duplicated legal fees in the repatriation of $321 million Abacha loot from Switzerland.
Meanwhile, Malami who left the APC for the ADC in July recently declared his intention to contest the 2027 Kebbi governorship election, citing national hardship and personal conviction for his defection.
