Former Attorney General of the Federation, Abubakar Malami, has launched a strong legal pushback against the Economic and Financial Crimes Commission over the interim forfeiture of multiple properties, rejecting claims that the assets are proceeds of crime.
In an affidavit before the Federal High Court of Nigeria in Abuja and sighted by our correspondent on Monday, Malami maintained that all properties listed in the January 2026 forfeiture order were legitimately acquired through years of legal practice, business ventures, and declared income.
The EFCC had secured the interim forfeiture order on suspicion that the assets were linked to illicit funds. However, Malami argued that the agency failed to provide prima facie evidence tying any of the properties to criminal activity, describing the allegations as speculative.
“There is no document before the court showing these properties were acquired with proceeds of crime,” he stated.
A key element of Malami’s defence is his claim that the EFCC inflated the value of the assets to strengthen its case. He alleged that properties purchased for hundreds of millions of naira were presented as worth billions.
According to him, independent valuers have provided significantly lower and more accurate valuations of the assets.
Malami attributed his wealth to multiple sources, including over three decades of legal practice, investments in hospitality, agriculture, and education.
