Abdulrasheed Maina, the former chairman of the Presidential Task Force on Pension Reforms, has sensationally claimed that the N270 billion in assets currently linked to the embattled former Attorney-General of the Federation, Abubakar Malami, represents only a small fraction of a much larger hoard of allegedly misappropriated public funds. Speaking at a legal event in Abuja, Maina asserted that the federal government has yet to uncover the vast majority of assets he believes are tied to the former justice minister.
The bold declaration comes as Malami remains entangled in a high-profile legal battle led by the Economic and Financial Crimes Commission. The anti-graft agency has intensified its scrutiny of the former AGF’s financial dealings, leading to the recent freezing of accounts and seizure of properties. However, Maina, who himself was convicted of money laundering and recently returned to the public eye under controversial circumstances, insists that the current recovery efforts are merely scratching the surface.
Addressing the Garki branch of the Nigerian Bar Association, where he received a Rule of Law and Courage Award, Maina dismissed the current figures as insufficient. He asked rhetorically what ₦270 billion was in comparison to the scale of what he alleges was stolen. He stated that the authorities have seen less than one-quarter of the total volume of funds and properties that could be recovered if the investigation were expanded.
During his address, Maina recounted an extraordinary narrative involving the highest levels of the previous government. He alleged that late President Muhammadu Buhari, alongside Malami, former Finance Minister Kemi Adeosun, and former National Security Adviser Babagana Monguno, once travelled to Abu Dhabi in the United Arab Emirates specifically to persuade him to return to Nigeria. He claimed he initially declined their pleas, prompting the officials to pressure his mother to intervene.
The former pension boss linked this high-level interest in his return to his purported track record of asset recovery. He asserted that former President Goodluck Jonathan had informed the Buhari transition team of Maina's role in recovering ₦1.63 trillion and 227 properties during the Jonathan era. Maina cited former Finance Minister Ngozi Okonjo-Iweala as a witness who could verify these figures, which he believes made him a target for both recruitment and subsequent persecution by various factions within the government.
The event where Maina spoke has not been without its own controversy. The national leadership of the Nigerian Bar Association has since distanced itself from the Garki branch’s decision to honour Maina, citing his status as a convict.
