The Federal Government has launched an investigation into former Attorney-General of the Federation (AGF), Abubakar Malami, over several high-profile transactions executed during his tenure. At least five major deals are now under scrutiny.
Key allegations under investigation:
• The mysterious payment of $496 million to Global Steel Holdings Ltd (GSHL) for the Ajaokuta Steel concession, despite the company reportedly waiving any compensation claims nearly a decade earlier.
• His handling of the sale of EFCC-forfeited assets, many linked to politically exposed persons, amid concerns over transparency, valuation, and alleged irregularities.
• His involvement in the controversial $419 million judgment debt awarded to consultants who claimed they facilitated the Paris Club refund process for state governments.
• The unusual approval of $200 million compensation to Sunrise Power in the long-running dispute over the Mambilla power project, despite unresolved legal and procedural questions.
• The issue of duplicated legal fees in the transfer of $321 million Abacha loot from Switzerland to Nigeria, raising red flags over multiple overlapping payments.
Authorities are expected to widen the probe as additional documents and correspondences are reviewed.
