The Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, has responded to a query by President Muhammadu Buhari an allegation that he refused to recover N300 billion allegedly hidden in some Nigerian banks after his attention was drawn to it by Dr George Uboh and his company, Panic Alert Security System (PASS), which was engaged by the minister to trace the money.
Uboh and his company, PASS, had reportedly written to President Buhari complaining of frustrations suffered on the hands of Malami in his (Uboh’s) efforts to recover already identified funds.
Malami, who relied via a letter dated May 4, denied the allegation and pledged his commitment to recover all stolen money in line with the position of the Federal Government.
According to the AGF, he revoked the mandate he gave to PASS and Uboh to recover the monies because Uboh went beyond the mandate given to him.
He replied to the president through the office of the Chief of Staff, Alhaji Abba Kyari.
Malami said the allegations levelled against him were false and baseless and that Uboh and his company were found to be lacking in integrity.
Uboh had accused Malami of deliberately frustrating him his effort to recover over N300 billion his company, Panic Alert Security Systems (“PASS”) allegedly traced to some Nigerian banks.
The minister said that Uboh did not only exceed his mandate but used it to intimidate wide-ranging personalities within and outside the banking industry.
He said, “In demonstration of my firm commitment to the recovery efforts of the government, I gave PASS a letter titled: TO WHOM IT MAY CONCERN dated 17th February, 2016, introducing PASS to the aforesaid banks/financial institutions.
“The aforesaid Letter of Engagement dated 9th February, 2016 and the subsequent Letter of Introduction dated 17th February, 2016 (“HAGF Letters”) were given to PASS on the firm understanding that PASS had already identified and/or traced specific FGN funds stashed/trapped in the aforementioned banks and that PASS would promptly embark on processes that would lead to actual recovery and remittance of the traced funds into the designated account of the FGN in line with the proposals submitted, presentations made and the terms contained in its letter of 9th February, 2016.”
