Malami Allegedly Thwarted Nigeria’s N70 Trillion Recovery Efforts

Abubakar Malami, the former Attorney General and Minister of Justice under President Muhammadu Buhari’s administration, has been accused of hindering efforts to recover an estimated N70 trillion in stolen resources for the Nigerian government. 

These allegations, corroborated by sources within the Federal Ministry of Justice, raise serious concerns about the management of Nigeria’s finances and the integrity of its legal system.

The allegations against Malami

According to some documents, Malami allegedly obstructed private investigators and whistleblowers who were working to recover funds that had been embezzled over the years. This mismanagement is yet another example of financial criminality that characterized key federal offices under Buhari’s rule from 2015 to 2023.

The funds in question, estimated to be well over N70 trillion, were traced back to various bank accounts, some directly connected to the Nigerian National Petroleum Corporation (NNPC). Despite the efforts of whistleblowers and private investigators, who followed the 2016 Federal whistleblower policy, their attempts to initiate the recovery of these funds were reportedly thwarted by Malami.

The impact of Malami’s actions

Malami’s alleged actions had a significant impact on the recovery efforts. According to sources, when Malami personally took over the case, there was “no success or failure,” leaving whistleblowers “out in the cold.” The attorney general’s decision to oversee the recovery process led to a lack of progress and transparency in one of the biggest asset recovery cases handled by the ministry.

Furthermore, documents reveal that Malami issued a “Letter of Instruction to Recover Illicit Funds Traced To Specified Accounts of Individuals” on June 21, 2021. Despite this, the recovery efforts did not yield any tangible results. Some of the implicated bank accounts have been closed, and funds moved, without being transferred to the government’s purse.

What the legal battle entails

The legal battle to recover the illicit funds took a complicated turn when the case was brought before the Federal High Court in Lagos. The court granted interim orders directing banks to disclose information and place a lien on the accounts in question. However, the execution of these orders was met with resistance, and Malami’s office did not provide the necessary support to ensure compliance.

In August 2023, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) opened a corruption probe against Malami. The allegations include illegal auctioning of sea vessels and duplicating legal fees in connection with the recovery of stolen funds. Despite these investigations, Malami has denied any wrongdoing.

Conclusively, the allegations against Abubakar Malami raise serious concerns about the effectiveness of Nigeria’s justice system and the government’s commitment to recovering stolen funds. 

The lack of progress in recovering an estimated N70 trillion highlights the need for transparency, accountability, and a robust legal framework to combat financial criminality. As the case unfolds, it remains to be seen whether the Nigerian government will take decisive action to address these issues and ensure that justice is served.