Malami Claims N10bn Business Income, N958m Gifts in Bid to Reclaim Seized Properties
Former Attorney-General of the Federation, Abubakar Malami (SAN), has told the Federal High Court in Abuja that he earned billions of naira from salaries, private businesses, gifts, and other lawful sources, as he seeks to vacate an interim order authorising the seizure of 57 properties linked to him by the Economic and Financial Crimes Commission (EFCC).
Malami disclosed this through his counsel, Joseph Daudu, in a motion on notice filed before the court, urging it to set aside the interim forfeiture order made against three of the 57 properties currently under EFCC seizure for forfeiture to the Federal Government.
According to the motion, Malami stated that he duly declared his sources of income in his asset declaration submitted to the Code of Conduct Bureau (CCB).
The declared incomes include ₦374.63 million earned from salaries, estacodes, severance allowances, and other entitlements; ₦574.07 million generated from the disposal of assets; and ₦10.017 billion recorded as turnover from private businesses.
He further disclosed ₦2.522 billion given out as loans to businesses, ₦958 million received as traditional gifts from personal friends, and ₦509.88 million realised from the launch and public presentation of his book titled “Contemporary Issues on Nigerian Law and Practice, Thorny Terrains in Traversing the Nigerian Justice Sector: My Travails and Triumphs.”
Malami is urging the court to consider these declarations in lifting the interim forfeiture order placed on the affected properties.
