The Economic and Financial Crimes Commission (EFCC) has scored a monumental victory for transparency with the interim forfeiture of properties worth N213.2 billion linked to the former Attorney General of the Federation, Abubakar Malami (SAN), and his family.
EFCC Chairman, Ola Olukoyede, recently clarified on Channels TV that this investigation is devoid of personal sentiment. It is a professional inquiry inherited from the previous leadership, spanning over two years since the end of the Buhari administration.
The scale of the discovery is breathtaking. The Federal High Court has ordered the forfeiture of 57 prime properties suspected to be proceeds of unlawful activities. These assets, scattered across Abuja, Kebbi, Kano, and Kaduna, paint a picture of alleged systemic accumulation.
The list is exhaustive: from Rayhaan University and agro-allied factories to the multi-billion Naira Meethaq Hotels in Jabi and Maitama. It includes luxury duplexes in Maitama and Asokoro, commercial plazas in Wuse, and vast hectares of land in Kebbi State.
The recovery of these assets offers a lifeline to Nigeria’s struggling economy. It is imperative that these properties are not just seized but effectively monetized. The proceeds must be injected directly into the economy to bridge infrastructure deficits, funding roads, hospitals, and schools.
Furthermore, these funds should support social welfare programs for the vulnerable and spark job creation through entrepreneurship initiatives. This is how the war on corruption translates to better living standards for the common man.
However, the Malamigate saga should be a starting point, not the conclusion. The EFCC must beam its searchlight on other Ministers who served in the immediate past administration.
It is difficult to believe Malami acted in isolation. The economic crisis inherited by President Bola Ahmed Tinubu suggests that the hemorrhage of public funds was widespread.
The EFCC, in collaboration with the ICPC, must now invite other former top government officials for questioning.
Recovering our commonwealth from the grip of past looters is essential for national recovery. A comprehensive probe will prove to Nigerians that this is not a selective witch-hunt, but a genuine effort to sanitize governance and restore the nation’s dignity.