Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, is expected to face questioning over at least five transactions that are reportedly being investigated over alleged irregularities.
According to an investigation by TheCable, Malami’s name has surfaced in connection with a number of deals conducted during his tenure under former President Muhammadu Buhari’s administration.
Among the transactions reportedly under scrutiny is a $496 million payment to Global Steel Holdings Ltd (GSHL) following the termination of the Indian company’s concession to operate the Ajaokuta Steel Complex.
The payment has raised questions because, according to TheCable, GSHL had previously waived claims for compensation over the termination of the concession.
Another matter concerns the handling of assets worth billions of naira that were forfeited to the Economic and Financial Crimes Commission (EFCC) by politically exposed persons.
Investigators are also expected to examine Malami’s role in a $419 million judgment debt awarded to consultants who claimed they helped facilitate refunds from the Paris Club to state governments.
A further transaction under scrutiny is an agreement involving Sunrise Power, under which the company was to receive $200 million in compensation in connection with its dispute with the federal government over the Mambilla power project.
The fifth issue relates to the transfer of $321 million recovered from the late former military ruler Sani Abacha’s assets in Switzerland. Questions have reportedly been raised over legal fees associated with the recovery, including allegations that some payments were duplicated.
TheCable reported that Malami’s name has emerged in connection with several transactions considered questionable and that he is expected to provide explanations as part of the ongoing scrutiny.
The allegations have not, by themselves, established wrongdoing by the former minister. Any findings or conclusions would depend on the outcome of the investigations and Malami’s response to the issues raised.
