National Issues
Abubakar Malami’s Victory Over Corruption And The Corrupt Powerful Elites In The Repatriation Of Nigeria’s Stolen Wealth -By Hajia Hadiza Mohammed
Thus, there is no doubt that the asset recovery efforts of Abubakar Malami when he served under Buhari may have unsettled some powerful individuals and profiteers in the country involved in these illicit deals and may have ignited the campaign of calumny and fight against him. This was the case of corruption fighting back. So, Malami’s battle did not start today. The battle started with the corrupt highly influential elites that feel that they are untouchable under the previous regime and snowballs into a political persecution in the current regime.
Many have wondered and confronted me about my interest in Abubakar Malami, SAN case. And I have emphatically told whoever cares to listen that I am just only interested in Malami. I am interested in justice. I am interested in good people, performers and conscientious public officers whose conducts mirrors the virtues that I cherish. And Malami is one of such public officers. I have highlighted some of his humanitarian and philanthropist services in an earlier essay. The erstwhile Attorney-general of the federation and Minister of Justice believes that what is worth doing is worth doing well. And he did his job creditably well when he functioned as the nation’s minister of Justice. Mohammadu Buhari and Bola Ahmed Tinubu will go down in political history of this nation as leaders that appointed the worst set of ministers. But among the set of ministers appointed by Buhari, Abubakar Malami stands out as the best. He was head and shoulder ahead of the rest in terms of performance.
I see Malami as a man of valor and exceptional courage who despite the smear campaign mounted against him by a sectional of the Nigerian press during his tenure as the nation’s number one law officer was not deterred from doing what he considered right. Malami recorded remarkable achievements in different areas. Among other things, he spearheaded the recovery and repatriation of billions of public funds especially those linked to late Gen. Sani Abacha stashed away in foreign banks. He set up the Presidential Committee on Prison Reform and Decongestion which visited correctional centers to release hundreds of awaiting-trial inmates nationwide. Also, he promoted the implementation of institutional frameworks and policies aimed at promoting transparency and effective coordination among the anti-graft agencies. Malami, established the Inter-Ministerial Asset Disposal Committee to ensure transparent management and disposal of recovered forfeited assets.
But, the focus of this essay is to highlight the efforts of Malami in the recovery of the Nigeria’s public funds stashed abroad; effort that led to the recovery of cash and assets valued at over $2.5 billion during his tenure. Among the recovered loot, first was the funds traceable to Sani Abacha, the Nigerian Head-of-State from 1993-1998. In 2020, Malami got a landmark victory for the country when he successfully negotiated the repatriation of about $311,797,866.11 from the United States and the Bailiwick of Jersey, assets linked to Abacha moved through the US financial systems held in Jersey accounts. This was part of other items including over 400 hundred other properties worth billions in Abuja, Lagos and Kano recovered by the federal government.
Secondly, Malami played a significant role in resolving trade disputes in favor of Nigeria. A good example is the dispute between Ajaokuta Steel Company of Nigeria and the Global Steel Holdings Limited. It was reported that: “In 2022, Malami resolved the Ajaokuta Steel Company dispute with Global Steel Holdings Limited, reducing Nigeria’s liability from $5.258 billion to $496 million—a 91% reduction. This settlement, rooted in the Arbitration and Conciliation Act, ended a protracted contract dispute that had enriched intermediaries while stalling a key industrial asset. By safeguarding Nigeria’s resources, Malami unsettled those who had benefited from the stalemate, asserting, ‘“This resolution demonstrates our commitment to protecting national resources, and turning a potential drain into a national gain.”’
Thirdly, there is the Malabu Oil and Gas Scandal resolved by Malami where he recovered for Nigeria the sum of $73.2 million through a commercial court decision. This amount is said to be linked to the sale of Oil Prospecting Licence (OPL) 245 to Shell and Eni in 2011; a deal that was marred by allegations of fraud involving the former Minister of Petroleum, Dan Etete and his associates. Apart from the cash recoveries, Malami worked the anti-graft agencies to seize other properties like hotels, estates and other assets worth over N673 million.
Furthermore defended Nigeria against foreign damages claim at the International Center for Settlement of Investment Disputes (ICSID) by thwarting a $1.2 billion claim by foreign firms over an oil contract dispute. His legal team at the (ICSID) secured a favorable outcome in 2021, preventing a massive payout that would have favored foreign interests. This victory rankled international profiteers who had anticipated an easy win, reinforcing Malami’s role as a guardian of Nigeria’s wealth and a formidable adversary to their ambitions.
Thus, there is no doubt that the asset recovery efforts of Abubakar Malami when he served under Buhari may have unsettled some powerful individuals and profiteers in the country involved in these illicit deals and may have ignited the campaign of calumny and fight against him. This was the case of corruption fighting back. So, Malami’s battle did not start today. The battle started with the corrupt highly influential elites that feel that they are untouchable under the previous regime and snowballs into a political persecution in the current regime.
Hajia Hadiza Mohammed
An actress, social activist, politician
London, UK
