Malami Denies EFCC Claims, Says Allegations on Abacha Loot Recovery “Baseless, Illogical”
Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has strongly refuted allegations by the Economic and Financial Crimes Commission (EFCC) that he duplicated efforts in the recovery of the $322.5 million Abacha loot, describing the claims as “baseless, illogical and wholly devoid of substance.”
In a statement issued through his office, Malami said he felt obliged to brief his associates and the public following his appearance before the EFCC on November 28, 2025, where investigators questioned him over alleged abuse of office and money laundering related to the recovered funds.
Claims Collapse Under Facts — Malami
According to the former Attorney-General, EFCC investigators had suggested that the recovery process was already completed by Swiss attorney Enrico Monfrini before he assumed office in 2015, and that Malami merely duplicated the process to involve other lawyers purportedly linked to him.
But Malami dismissed the claims, insisting that no recovery can be deemed completed until funds are physically lodged into the Federation Account — and that no such lodgement existed as of 2016 when the Buhari administration reopened negotiations.
He noted that the contradiction in EFCC’s claim becomes clearer when placed side-by-side with documented evidence showing that multiple lawyers, including Monfrini himself, formally applied in December 2016 to be re-engaged to recover the same funds.
“It is entirely illogical for a lawyer to apply to recover funds he supposedly completed two years earlier,” Malami stated, arguing that this fact alone “exposes the inconsistency” in the allegations.
Why Monfrini Was Rejected
Malami disclosed that Monfrini proposed an upfront payment of $5 million and a success fee of 40 percent of recovered assets — later dropped to 20 percent — but still far above the Buhari administration’s cap of 5 percent success fees and zero upfront deposits.
A Nigerian law firm was eventually engaged at a flat 5 percent success fee, saving the country between 15 percent and 35 percent in potential costs.
At an exchange rate of about ₦1,600 per dollar, Malami calculated the savings to amount to:
- ₦76.8 billion at 15 percent
- ₦179.2 billion at 35 percent
“These are measurable, verifiable savings to the Nigerian state,” he said, adding that no unlawful or unaccounted payments were made.
Separate Recoveries Wrongly Conflated — Former AGF
Malami stressed that the EFCC’s suspicion stems from a misunderstanding — or deliberate conflation — of different tranches of Abacha loot recovered under his watch:
- $322.5 million (2017–2018) from Switzerland, disbursed through the National Social Investment Programme and monitored by the World Bank and civil society organizations.
- $321 million (2020) repatriated from the Island of Jersey with U.S. and Swiss cooperation, earmarked for major infrastructure projects such as
- Lagos–Ibadan Expressway
- Abuja–Kano Road
- Second Niger Bridge
“Any attempt to merge these distinct processes or portray lawful, cost-saving recovery work as duplication is misleading,” he argued.
Allegations a ‘Political Witch-Hunt’
Malami thanked his supporters across the country, stating that he remains confident the allegations will collapse under scrutiny.
“The allegations of money laundering and abuse of office concerning the Abacha loot remain baseless, illogical and entirely devoid of substance. Truth, law and reason will ultimately prevail,” he concluded.
The statement was signed by Mohammed Bello Doka, Special Assistant on Media to the former Attorney-General.