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Maina: N270bn not up to one quarter of funds looted by Malami

Femi Ashaolu by Femi Ashaolu
January 23, 2026
in News
Maina: N270bn not up to one quarter of funds looted by Malami
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Former chairman of the Presidential Task Force on Pension Reforms, Abdulrasheed Maina, has claimed that the assets currently linked to ex-Attorney-General of the Federation (AGF) and Minister of Justice, Abdulrasheed Maina, is less than a quarter of what was allegedly misappropriated.

Speaking while receiving the Rule of Law and Courage Award from the Garki branch of the Nigerian Bar Association (NBA) in Abuja, Maina said the authorities have only scratched the surface, adding that more can and should be recovered from Malami.

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He commended the current administration for its handling of the matter, adding that it is upholding transparency and the rule of law in contrast to the previous government under the late President Muhammadu Buhari.

“Malami allegedly stole a lot of funds. What the government has seen so far is not even one quarter,” Maina said.

“We can recover these funds from Malami. There are more than what has been seen. What is 270 billion? Yes, the government is doing the right thing. There must be accountability, transparency and the rule of law, which is what I see the government doing as against what the last.”

Recounting an incident when he was abroad, Maina alleged that top government officials, including the late President Buhari; Kemi Adeosun, former finance minister; Babagana Monguno, ex-national security adviser (NSA); and Malami, travelled to Abu Dhabi, United Arab Emirates (UAE), to persuade him to return to Nigeria.

Maina said he declined their pleas, noting that they pressured his mother to convince him otherwise.

According to him, this was because former President Goodluck Jonathan had informed them of how he helped in the recovery of N1.63 trillion during Jonathan’s tenure—a figure he said could be verified by Ngozi Okonjo-Iweala, ex-finance minister.

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“All these things happened during the last administration. I don’t believe this could happen in this administration. How could somebody come to Abu Dhabi? The late President Muhammadu Buhari was there, Kemi Adeosun was there, Babagana Monguno, former NSA, was there, and Abubakar Malami was there,” Maina said.

“They begged me, and I refused to come to Nigeria. They went back to Nigeria and made my mother insist that I come back to Nigeria because Jonathan had told them that I recovered 1.63 trillion during his time; this can be ascertained by Okonjo-Iweala and 227 properties.”

Malami, who is standing trial alongside his son and wife over allegations bordering on money laundering, was arraigned by the Economic and Financial Crimes Commission (EFCC) and subsequently remanded at the Kuje Correctional Centre in Abuja.

On January 7, a federal high court in Abuja granted him bail in the sum of N500 million.

 

Tags: Abdulrasheed MainaAbubakar Malamilooted funds
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Femi Ashaolu

Femi Ashaolu

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