The former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has dismissed allegations raised by the Economic and Financial Crimes Commission (EFCC) concerning the recovery of the $322.5 million Abacha loot, describing them as “baseless, illogical and devoid of substance.”

In a statement issued through his media aide, Mohammed Bello Doka, Malami confirmed that he appeared before the EFCC on November 28, 2025.

According to him, the anti-graft agency is investigating claims of abuse of office and money laundering arising from what it termed a “duplication” of recovery efforts regarding the Abacha funds.

According to Malami, the EFCC’s inquiry rests on the assumption that the funds had already been fully recovered by a Swiss lawyer Enrico Monfrini before he assumed office in 2015.

Mallami argued that this claim contradicted available records, noting that no such funds had been lodged into the Federation Account as of 2016.

“Recovery of illicit funds can only be deemed completed upon their deposit into the Federation Account. As at 2016, no such lodgement existed, and there was therefore nothing to duplicate,” Malami said.

 

He further disclosed that several lawyers, including Mr. Monfrini, applied in December 2016 to be engaged for the recovery of the same funds, a fact he said undermines claims that the process had concluded years earlier.

Monfrini, he stated, sought a $5 million upfront payment and a 40 percent success fee, which he later reduced to 20 percent.

Malami explained that the Buhari administration rejected those terms in line with its policy against advance payments to recovery agents and its ceiling of five percent on success fees.

A Nigerian law firm, he said, was eventually engaged on an “all-inclusive five percent” arrangement.

He maintained that this decision saved the country between 15 percent and 35 percent of the recovered sum, amounting to ₦76.8 billion to ₦179.2 billion at prevailing exchange rates, while avoiding the proposed $5 million upfront deposit.

Malami also clarified that distinct tranches of Abacha loot were recovered during his tenure.

The $322.5 million repatriated from Switzerland in 2017–2018, he said, was deployed through the National Social Investment Programme under World Bank–monitored Conditional Cash Transfers.

Another $321 million returned from Jersey in 2020, with U.S. and Swiss cooperation, was earmarked for major infrastructure projects including the Lagos–Ibadan Expressway, Abuja–Kano Road and the Second Niger Bridge, Malami said.

He cautioned against conflating these separate recoveries or mischaracterizing them as duplication.

Expressing appreciation to his supporters, Malami insisted that the allegations against him were unfounded.

“The claims remain baseless, illogical and entirely devoid of substance. I remain confident that truth, law and reason will ultimately prevail,” he concluded.