Just in: Ex-AGF Abubakar Malami discloses income sources in court, seeks release of seized properties

Former Attorney-General of the Federation (AGF), Abubakar Malami, has disclosed in court that he earned N374 million from salaries, N10.17 billion from private businesses, and N958 million in personal gifts, as he seeks to vacate an interim order directing the seizure of 57 properties linked to him.

The disclosure was made through Malami’s lawyer, Joseph Daudu, in a motion on notice filed at the Federal High Court in Abuja.

The motion requests the court to lift the interim order against three of the 57 properties seized by the Economic and Financial Crimes Commission (EFCC) for potential forfeiture to the Federal Government.

Daudu informed the court that Malami had fully declared his sources of income in his asset declaration submitted to the Code of Conduct Bureau (CCB). The declaration included:

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N374,630,900 from salaries, estacodes, severance allowances, and related earnings.

N574,073,000 from income generated through disposed assets.

N10,017,382,684 turnover from his private businesses.

N2,522,000,000 in loans extended to his businesses.

N958,000,000 received as traditional gifts from personal friends.

N509,880,000 earned from the launch and public presentation of his book, “Contemporary Issues on Nigerian Law and Practice: Thorny Terrains in Traversing the Nigerian Justice Sector – My Travails and Triumphs.”

The motion argues that Malami’s declared income demonstrates legitimate sources for his wealth and requests that the court lift the seizure order on the specified properties while the matter is adjudicated.

This development comes amid ongoing scrutiny of Malami’s assets and EFCC investigations into alleged unexplained wealth. The Federal High Court is expected to review the motion and decide on whether to vacate the interim order.