Malami Roped In Another $1bn Scandal As Whistleblower Exposes Cloned Account Fraud

Malami Roped In Another $1bn Scandal As Whistleblower Exposes Cloned Account Fraud
Fresh troubles have emerged for former Attorney-General of the Federation, Abubakar Malami (SAN), as a whistleblower has accused him and top officials of the Federal Ministry of Justice of masterminding a massive financial fraud involving over $1.03 billion in public funds.
The shocking allegations, contained in a formal petition submitted to the Economic and Financial Crimes Commission (EFCC), suggest that the funds—meant for the Nigerian government—were secretly diverted into a cloned bank account created to mirror an official government account.
How the Alleged Scheme Worked
According to the whistleblower, the fraud was executed through a deliberately cloned account that closely resembled a legitimate Federal Government account used for the receipt of international legal settlements and recovered funds. The cloned account was allegedly set up to deceive financial institutions and regulators, allowing huge inflows of money to be quietly rerouted.
Once the funds entered the cloned account, they were allegedly broken into multiple transfers and distributed to private entities and individuals linked to senior Justice Ministry officials.
Investigators believe the operation was sophisticated, involving digital banking manipulation, forged documents, and insider access within the Ministry of Justice.
Malami’s Alleged Role
The whistleblower claims that Malami, who served as Attorney-General from 2015 to 2023, approved and supervised key stages of the transactions. As the nation’s chief law officer, he was responsible for overseeing the legal recovery, custody, and management of recovered assets.
Instead of safeguarding the funds, the petition alleges that Malami and his allies used their positions to divert the money for personal and political interests.
This scandal comes while Malami is already facing separate corruption and abuse-of-office investigations, making the latest allegations even more damaging.
What the $1.03 Billion Was Meant For
The funds were reportedly part of international recoveries and legal settlements owed to Nigeria, including money from foreign governments, financial institutions, and multinational corporations following corruption probes and contractual disputes.
These funds were supposed to be paid into official Nigerian government accounts for public use, including infrastructure, debt servicing, and social development.
Instead, the whistleblower claims, a shadow financial system was created to steal them.
EFCC Launches Probe
Sources within the EFCC confirm that the petition has been received and is being treated as a high-priority national security and economic crime case.
Financial intelligence analysts are now tracing:
Bank records
SWIFT transfers
Beneficiary accounts
Digital audit trails
Correspondence between Ministry officials
Multiple arrests and asset seizures are said to be imminent as investigators follow the money trail across Nigeria and overseas.
A Blow to Nigeria’s Anti-Corruption War
The allegations strike at the heart of Nigeria’s justice system. If proven, this would represent one of the largest government fund diversions in Nigeria’s history—ironically carried out by the very office meant to protect public assets.
Civil society groups and anti-corruption activists are already calling for:
Immediate prosecution
Asset recovery
Travel bans
Freezing of suspect accounts
Many say this scandal highlights how corruption has evolved from crude theft to high-tech financial engineering.
What Happens Next
The EFCC is expected to invite Malami and other named officials for questioning. International financial crime units in the US and Europe may also be brought in due to the cross-border nature of the transactions.
For millions of Nigerians struggling with poverty, inflation, and poor infrastructure, the idea that $1.03 billion could vanish through elite corruption is both infuriating and devastating.
This case may become a defining test of whether Nigeria is truly ready to hold its most powerful figures accountable.