Former Attorney General of the Federation Abubakar Malami remained at the headquarters of the Economic and Financial Crimes Commission on Monday night after investigators continued questioning him over an ongoing probe.
According to reliable sources, Malami was invited earlier in the day but arrived late, which led to his continued stay at the commission’s facility to allow interrogators conclude their session.
A source close to the former minister confirmed that the EFCC is examining 46 bank accounts allegedly linked to Malami. The accounts reportedly form a significant part of the inquiry.
The former AGF is expected to return to the commission daily as the investigation progresses.
Malami had posted on X after his previous appearance on November 29 that the interaction with investigators went well. He also said he had been given another appointment to provide further clarification on what he described as fabricated allegations.
Questions Surrounding Major Transactions
Reports indicate that Malami is being examined over a series of contentious financial dealings that occurred during his tenure in the Muhammadu Buhari administration.
A 2023 investigation highlighted at least five major transactions now under scrutiny. One of the issues is the payment of 496 million dollars to Global Steel Holdings Limited as compensation for the termination of the Ajaokuta Steel concession, despite the company earlier waiving its claims.
Another matter relates to the management and disposal of assets seized from politically exposed persons and forfeited to the federal government through the EFCC.
Investigators are also reviewing his involvement in the controversial 419 million dollars judgment debt awarded to consultants who claimed to have assisted in the computation of the Paris Club refunds.
The probe covers the agreement to pay Sunrise Power 200 million dollars in a dispute involving the Mambilla power project, along with concerns over repeated legal fees in the return of 321 million dollars of Abacha loot from Switzerland.
