In a detailed rebuttal issued through his media aide, Dr. Mohammed Doka, Malami labelled the EFCC’s claims as “baseless, illogical and completely devoid of substance,” insisting that the accusations fall apart under basic scrutiny.

The EFCC had accused Malami of re-engaging lawyers to recover funds that Swiss counsel, Enrico Monfrini, allegedly already repatriated before Malami assumed office in 2015.Malami countered that no recovery was complete until funds were actually paid into Nigeria’s Federation Account, an event that never happened before 2017.“

As at 2016, there was no lodgement of any such funds into the Federation Account. There was therefore no completed recovery in existence, and nothing whatsoever to duplicate,” he stated.

He pointed to a December 2016 application by Monfrini himself seeking re-engagement for the same recovery as proof that even the Swiss lawyer knew the process was far from concluded.

“It is entirely illogical for a lawyer to apply in December 2016 to be engaged to recover funds he purportedly recovered two years earlier. That single fact exposes the internal contradiction and absurdity of the EFCC’s narrative,” Malami said.

The former minister also revealed that Monfrini demanded a $5 million upfront fee and up to 40% success fee (later reduced to 20%), terms the Buhari administration rejected. Instead, a Nigerian law firm was hired at just 5% success fee saving the country between 15–35% of the loot, equivalent to ₦76.8 billion to ₦179.2 billion.

Malami listed other successful recoveries under his watch, including:$322.5 million repatriated from Switzerland (2017–2018), used for World Bank-monitored Conditional Cash Transfers to the poorest Nigerians   

$321 million from Jersey (2020), dedicated to Lagos–Ibadan Expressway, Abuja–Kano Road and Second Niger Bridge 

Describing the ongoing EFCC investigation as a “political witch-hunt,” Malami confirmed he honoured an invitation on November 28, 2025, and expressed confidence that the probe will clear his name.

He thanked his supporters for their solidarity and vowed to continue defending his reputation.The EFCC recently seized Malami’s passport and placed him on travel restriction as part of the investigation into the Abacha loot recoveries.