Notable Quotes from Global and African leaders, including the World Bank, IMF, International Association of Anti-Corruption Authorities (IAACA), and Global legal governance institutions, regarding the scandal surrounding former AGF Abubakar Malami, SAN. Former Attorney General of Nigeria. ©️
HeadlineNews.News Commentaries are reinforcing the urgency of prosecution, global standards of accountability, and President Tinubu’s responsibility to set precedent.
“Malami’s Legal Legacy: A Cautionary Tale of Power Without Scrutiny”
Excerpt:
“From questionable asset sales to billion-dollar settlements without transparency, Malami’s time as AGF reads more like a corporate fraud exposé than a public service record.”
Quote – International Association of Anti-Corruption Authorities (IAACA):
“When a chief law officer breaches ethical norms, it’s not just internal failure — it’s a threat to institutional justice.”
Comment:
In any democratic country with a functioning legal ecosystem, Malami would be under indictment — not under the radar.
“IMF: Legal System Abuse Is Fueling Nigeria’s Debt Crisis”
Excerpt:
“Duplicated legal fees and unjustified compensation settlements erode trust in Nigeria’s budget credibility and worsen fiscal pressures.”
Quote – IMF 2024 Governance Assessment on Nigeria:
“Judicial integrity and prosecutorial transparency are essential to safeguard public finance and investor confidence.”
Comment:
The cost of corruption isn’t just moral — it’s economic. Malami’s scandals directly impact Nigeria’s fiscal space and global rating.
“World Bank to Nigeria: Enforce Sanctions on Compromised Officials”
Excerpt:
“Privatization of forfeited assets without transparency and legal justification violates international standards for asset recovery.” – Dr. G. Fraser. MFR
Quote – World Bank Governance & Anti-Corruption Division:
“Allowing senior officials to misuse state assets and escape sanctions sets back every effort made toward institutional reform.”
Comment:
Global lenders won’t keep extending support to a country unwilling to discipline its most powerful offenders.- Dr. G. Fraser. MFR.
“Tinubu Faces Test of Integrity: Will Malami Be the Example or the Exception?”
Excerpt:
“With reforms underway, Nigerians await justice for past looters. Malami’s case is the perfect litmus test.”
Quote – President Bola Ahmed Tinubu, GCFR:
“No one is above the law under my administration. We will ensure public trust is not betrayed by those meant to uphold it.”
Comment:
President Tinubu’s legacy depends not only on preventing future corruption — but punishing past betrayals.
“African Union’s Anti-Graft Unit Calls for Regional Accountability Standards”
Excerpt:
“Cross-border funds, like the $321 million Abacha loot, were manipulated for personal gain under Malami’s watch.”
Quote – AU Advisory Board on Corruption (AUABC):
“Corruption at the top must be treated as continental sabotage — not internal error.”
Comment:
Nigeria cannot demand international cooperation on illicit financial flows while protecting its biggest internal offenders.
“European Legal Ethics Board: Malami Would Be Disbarred in Most Jurisdictions”
Excerpt:
“Malami approved settlements without legal merit, enabled illegal asset sales, and undermined fiduciary duty as AGF.”
Quote – Council of Bars and Law Societies of Europe (CCBE):
“Repeated abuse of office by a nation’s chief legal officer would result in immediate disbarment and criminal charges.”
Comment:
If Nigeria wants respect in the international legal community, it must show that legal impunity is not tolerated.
“Rule of Law Begins at the Top: Why Malami Must Be Prosecuted”
Excerpt:
“Nigeria cannot preach anti-corruption to its citizens while shielding its most powerful former officials.”
Quote – Transparency International Africa Division:
“Where leaders go unpunished for clear ethical violations, corruption becomes a government culture — not just a crime.”
Comment:
This is more than about one man. It’s about sending a message that law still means something in Nigeria.
Headlinenews.news Special Publication. ©️
Top 5 Transactions Under Investigation
A new federal probe has flagged at least five suspicious financial actions executed or influenced by Malami while in office:
The $496 Million “Ghost Settlement” with Global Steel Holdings Ltd (GSHL)
Despite GSHL having waived its claims after the termination of the Ajaokuta Steel concession, Malami orchestrated a $496 million payment — nearly ₦700 billion — to the Indian firm. Critics allege the payout defies logic and legal precedent, with no clear paper trail or federal approval.
Mismanagement of EFCC-Forfeited Assets
Properties and luxury assets seized by the EFCC from politically exposed persons were sold off with zero transparency, often through private channels linked to Malami’s associates. Estimates suggest assets worth tens of billions of naira were lost in the shadows.
The $419 Million Paris Club “Consultants” Judgment Debt
Malami’s endorsement of a $419 million payout to self-styled consultants — allegedly for “facilitating” Paris Club refunds — was widely condemned. The Senate and several governors denied knowledge of these consultants, yet Malami backed their claims in court.
$200 Million to Sunrise Power Over Mambilla Project Dispute
Despite Sunrise Power breaching earlier contract terms, Malami approved a $200 million compensation agreement, effectively rewarding non-performance. Analysts suspect conflict of interest and questionable motivation.
Duplicated Legal Fees on $321 Million Abacha Loot
In the repatriation of $321 million of stolen funds from Switzerland, the legal team working with the FG was paid duplicated fees, reportedly running into several million dollars. Multiple payments for identical services — all under Malami’s supervision.
