KUALA LUMPUR – Datuk Seri Najib Razak has declared himself the “first leader in history” to notify Bank Negara Malaysia (BNM) about returning ‘illicit’ funds, as part of his defence in the ongoing 1Malaysia Development Bhd (1MDB) case involving RM2.3 billion.
The former Prime Minister stressed that all of his actions were based on the belief that the funds transferred into his account were a political donation promised by the late King Abdullah of Saudi Arabia, not illicit money as alleged by the prosecution.
Najib rejected the prosecution’s reliance on hearsay evidence, asserting that unlike prosecution witnesses like Jasmine Loo Ai Swan and Datuk Amhari Efendi Nazaruddin—who had opened offshore accounts—he had opened a local account to receive the Saudi donation. He pointed out that he had immediately informed the then-Governor of Bank Negara Malaysia (BNM), Tan Sri Zeti Akhtar Aziz, about the purpose of the account.
The former leader also detailed how the funds were spent, stressing that they were used for political activities and social welfare, with every expenditure documented. He emphasised that, contrary to media reports about a sum of US$681 million, no such amount had been linked to 1MDB.
Najib further defended his actions by explaining that he had returned US$620 million to the original account, once it was no longer needed, after obtaining official approval from BNM. “I’m probably the first political leader or money launderer in history to return a bribe and notify the BNM Governor about ‘illicit’ funds,” he said sarcastically.
He also pointed to official records, including SWIFT transfers, which confirmed that the funds came from the Ministry of Finance in Riyadh, processed by the Saudi Arabian Monetary Authority (SAMA).
Najib added that several officials from the Malaysian Anti-Corruption Commission (MACC) had confirmed during their investigation in Riyadh in November 2015 that members of the Saudi royal family had confirmed the political donation, including four letters of donation received and the transfer into his account. – October 21, 2025