Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), has disclosed his sources of income totalling billions of naira in a bid to vacate an interim order directing the seizure of 57 properties linked to him by the Economic and Financial Crimes Commission (EFCC).
In a motion on notice filed on his behalf at the Federal High Court in Abuja, Malami, through his lead counsel Joseph Daudu (SAN), revealed the following declared income sources in his asset declarations submitted to the Code of Conduct Bureau (CCB) during his tenure:
₦374,630,900 from salaries, estacodes, severance allowances, and other official emoluments.
₦574,073,000 generated from disposed assets.
₦10,017,382,684 turnover from private businesses.
₦2,522,000,000 as loans extended to businesses.
₦958,000,000 received as traditional gifts from personal friends.
₦509,880,000 realised from the launch and public presentation of his book titled “Contemporary Issues on Nigerian Law and Practice: Thorny Terrains in Traversing the Nigerian Justice Sector – My Travails and Triumphs”.
The motion seeks to vacate the interim forfeiture order granted to the EFCC in respect of three of the 57 properties earlier seized, arguing that the assets were legitimately acquired through the above sources and not proceeds of crime.
Daudu submitted that the EFCC’s case relies on “speculative and unsubstantiated allegations” and that Malami had fully declared his assets and income in compliance with the law.
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The court has yet to rule on the motion, with hearing adjourned to a later date. The case is part of a broader probe into alleged money laundering, abuse of office, and corruption involving Malami during his time as AGF.
Malami, who was remanded at Kuje Correctional Centre before being granted bail, maintains his innocence and has described the charges as politically motivated.
By Ogungbayi Beedee Adeyemi
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