New face of Corruption: How AGF Malami, Bagudu plot to rip Nigeria off $170m from Abacha loot

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Akib Abiola is in possession of documents showing how the Attorney general and Minister of Justice, Abubakar Malami and former governor of Kebbi state, Abubakar Atiku Bagudu plot to rip Nigeria off a whopping $170 million from the $550 million Abacha loot domiciled in the United States.

The revelation is no doubt a smear on the face of President Muhammadu Buhari who prides himself as anti-corruption president when the information eventually hits the public domain.

It will no doubt be a blow for him on realising that one of his saints, AGF Malami is engaged in fraudulent deals.

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According to information available to, $70 million of the loot is being plotted to be diverted to Bagudu leaving $480 million as balance.


Apart from that, AGF Malami is asking the Nigerian Govt to pay 30% fee from the $480 million which is $144 million to the attorney he appointed.

Unknown to the unsuspecting Buhari, Malami is collecting $100 million out of the $144 million as a bribe, leaving the lawyer with $44 million.

kebbi-606x400With this development, one can easily see that these people don’t have the interest of the country at heart.

One of our inner sources is even suggesting that:

– either President Buhari is aware of this, or,

– portion of the sleaze is going to him, or better still,

– His party – the All Progressives Congress [APC] has a stake in it.

If none of the above rings out, then all the $100 million must be going to the AGF.

One noteworthy fact, however, is that both ex-Governor Bagudu and AGF Malami are from the same town – Birnin Kebbi in Kebbi state.

Another noteworthy fact is that it was Bagudu who recommended Malami to President Buhari.

The intelligent contact that gave these documents said that the Nigerian-born attorney – Godson Nnaka – who started the process and who was hired by President Obasanjo is very angry.

He is angry that he is being replaced by Malami because he refused to give 70% of his fees to AG Abubakar Malami.

Malami gave the case that was started over twelve years ago to a new attorney who was never part of the litigation because the new lawyer agreed to share his fees with him.

The initial lawyer Nnaka has now filed a suit in the US court to tie up the release of the money and to expose AG Malami and Governor Bagudu.

Attached, one will find court filings in which Bagudu was asking the U.S. Court to nullify Nigeria’s interest in the seized assets.

Also, you will find the notice of appearance just filed in May by a new attorney to represent Nigeria for a case that started in 2004.

The previous attorney was side tracked because the new attorney is willing to give Malami $100 million.

Contrary to what is being reported, as one can see from this report, the actual amount is $550 million and not $480 million that have been circulated in the media.

The money is tied up in court as at the time of publishing this report.

Unlike in Nigeria, the Executive Branch headed by Obama cannot unilaterally override the court and release the money while there are lawsuits still pending in the courts.

As mentioned previously, a Nigerian born attorney who started the process has filed a lawsuit asking that the Court be allowed to expatriate the money to Nigeria.

That is in order that the whole amount of $550 million would be given to Nigeria and not $480 million after $70 million has been diverted to Governor Bagudu and cohorts.

The essence of the whole documents is to present it to public so that the presidency and the public would know the truth accordingly.

The goal is to ensure that at the end, Nigeria received all her money $550 million.

Also, that the people who worked to expose the hideouts of this $550 million and who also knows where $2.5 billion of Nigerian looted money are being kept are not discouraged from exposing these sources and hideouts.




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