Former Attorney General of the Federation and Minister of Justice, Abubakar Malami, has strongly denied allegations made by the Economic and Financial Crimes Commission (EFCC) regarding the recovery of the $322.5 million Abacha loot. Malami described the claims as “baseless, illogical and unsupported by facts,” insisting that the processes carried out under his watch were transparent and in the best interest of the country.
Malami spoke in a detailed statement issued on Sunday, days after he appeared before the EFCC for questioning. The anti-graft agency is currently investigating allegations of duplication in the recovery of the Abacha funds, as well as accusations of abuse of office and money laundering linked to the former minister.
According to reports, Malami was invited by the EFCC on Friday, November 28, and was later released after initial questioning. He was also given new dates to return for further interrogation. The investigation is part of a broader effort to review past recoveries tied to funds looted during the regime of the late former military Head of State, General Sani Abacha.
Since 1999, successive Nigerian governments have recovered billions of dollars siphoned from public funds during the Abacha era. These funds have often been at the centre of controversy, especially concerning the processes used, legal fees charged, and how the recovered money was spent. The EFCC’s latest probe focuses on whether any recovery efforts were duplicated and whether officials may have abused their office in the process.
In his response, Malami said he was surprised that the EFCC based its inquiry on the claim that Swiss lawyer Enrico Monfrini had completed the recovery of the $322.5 million before he took office in 2015. He argued that the claim collapses when examined alongside official records.
He explained that a recovery process can only be considered completed when the funds have been deposited into Nigeria’s Federation Account. But according to Malami, as of 2016—one year into the Buhari administration—no such payment had been made.
To further counter the allegation, Malami said several lawyers, including Monfrini, sent applications in December 2016 seeking to be re-engaged for the same recovery. The fact that these applications were made, he noted, shows that the process was not concluded before he assumed office.
Malami also gave insight into why the Nigerian government under President Muhammadu Buhari did not continue with Monfrini. According to him, the Swiss lawyer demanded a $5 million advance payment and a 40 per cent success fee. Although the fee was later reduced to 20 per cent, Malami said the terms still violated government policy, which forbids advance payments and caps legal fees at 5 per cent.
Instead, the government opted to hire a Nigerian law firm under a 5 per cent success fee. Malami argued that this decision saved the country significant funds, preventing Nigeria from losing between 15 and 35 per cent of the recovered amount. At current exchange rates, he said, the savings amounted to tens of billions of naira.
The former Attorney General also provided a breakdown of the Abacha loot recovered during his tenure. He emphasised that the funds were recovered in separate tranches, which should not be confused or conflated.
$322.5 million from Switzerland (2017–2018):
This tranche was repatriated following negotiations with the Swiss authorities. According to Malami, the money was used to fund the Conditional Cash Transfer programme under the National Social Investment Programme (NSIP). The distribution of the funds, he said, was monitored by the World Bank and civil society organisations to ensure transparency.
$321 million from Jersey (2020):
Another tranche recovered from Jersey in the Channel Islands returned to Nigeria in 2020. This tranche was dedicated to major infrastructure projects across the country. Projects funded include the Lagos–Ibadan Expressway, the Abuja–Kano Road, and the Second Niger Bridge.
These projects were chosen under agreements involving the Nigerian government, the United States, and the Jersey government.
Malami said attempts to merge the two tranches or claim that one was recovered twice were wrong and did not reflect actual records.
Since the late 1990s, Nigeria has been working with various countries—including Switzerland, the United States, the United Kingdom and Jersey—to recover funds stolen by the Abacha regime. Nigeria has so far recovered more than $5 billion linked to the former military ruler.
However, the process has often been surrounded by disputes over legal fees, consultancy costs, and the transparency of those involved. Several Nigerian administrations have faced criticism over their handling of the recovered funds, and in some cases, fresh allegations of mismanagement have emerged.
The Buhari administration, under which Malami served, made the fight against corruption one of its key priorities. But even within this period, different actors disagreed over the handling of certain recoveries, leading to ongoing investigations such as the one currently being undertaken by the EFCC.
In his statement, Malami maintained that he acted transparently at all times and followed established rules and guidelines. He argued that every decision taken during the recovery process was aimed at saving costs, protecting national interest and ensuring accountability.
He described the allegations against him as lacking any reasonable basis and accused his accusers of misunderstanding the process or ignoring documented facts.
“For the avoidance of doubt, all actions taken under my leadership were done in line with the law, government policy and the highest standards of transparency,” he stated.
With the EFCC continuing its investigation, it remains unclear whether new charges or further actions will be taken. Malami’s defence suggests that he is prepared to fully contest any accusations that may arise.