Abubakar Malami, the former attorney-general of the federation and minister of justice, is in the custody of the Economic and Financial Crimes Commission (EFCC).

Malami is being probed for 18 alleged offences, including money laundering, abuse of office, and terrorism financing.

The anti-graft agency is believed to have secured a remand order for his detention.

Sources privy to the investigation said the former AGF is unable to account for the recovery of $346.2 million Abacha loot from Switzerland and funds from the Island of Jersey.

The investigation extends to the disbursement of N4 billion Anchor Borrowers’ Programme funds from the Central Bank of Nigeria (CBN).

Malami is also being quizzed over his alleged N10bn investment in schools, hotels, and rice mills in Kebbi state.

Malami, according to TheCable, failed to meet his bail conditions as of 11pm on Tuesday, forcing him to spend a second night in detention.

An associate of the former minister had earlier revealed that Malami was invited for questioning on Monday but arrived late in the evening, which resulted in him staying overnight to continue responding to investigators’ queries.

The associate also disclosed that 46 bank accounts allegedly linked to Malami are currently under investigation, forming a major part of the EFCC’s line of inquiry.

Dele Oyewale, the EFCC spokesperson, declined to comment on the matter when contacted by TheCable.

TheCable had in 2023 reported that Malami would be questioned over at least five suspicious transactions during his time in office.

Malami’s name featured in a number of questionable deals under the Muhammadu Buhari administration.

The transactions bordered on the mysterious payment of $496 million to Global Steel Holdings Ltd (GSHL) as settlement for the termination of the Ajaokuta Steel concession nine years after the Indian company had waived all claims for compensation.

Another contentious matter is Malami’s handling of the sale of assets worth billions of naira forfeited to the EFCC by politically exposed persons.

The former minister’s role in the $419 million judgment debt awarded to consultants who claimed to have facilitated the Paris Club refunds to states is also up for scrutiny.

Others are the curious agreement to pay Sunrise Power $200 million compensation in its dispute with the federal government over the Mambilla power project, and the duplicated legal fees in the transfer of $321 million Abacha loot from Switzerland to Nigeria.