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Re-looting recovered loots! How suspended EFCC boss Magu allocated seized assets to friends

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All allegations are lies, concocted to tarnish Magu’s image, says counsel
Ade Adesomoju and Oladimeji Ramon

The suspended acting Chairman of the Economic and Financial Crimes Commission, Mr Ibrahim Magu, could not give a proper account of missing 332 out of the 836 recovered properties in March, 2018, the News Agency of Nigeria has reported.

NAN reported on Sunday that the latest allegation against the suspended EFCC boss was contained in a report of the Presidential Committee on Audit of Recovered Assets.

It also stated that the panel alleged that recovered properties were taken over by some top EFCC officials or sold to Magu’s friends and cronies at giveaway prices.

The news agency had, on Saturday reported that the panel, in its report titled, ‘Final Report of the Presidential Investigation Committee on the EFCC Federal Government Recovered Assets and Finances from May 2015 to May 2020,’ alleged that Magu was unable to account for the interest generated from N550bn cash recovered from 2015 to 2020.

Read also: How Ibrahim Magu used ‘Pastors’ to launder funds abroad

The President, Muhammadu Buhari, set up the Justice Ayo Salami-led committee, which is currently investigating allegations of corruption against Magu, after the panel on the audit of recovered assets submitted its report.

Besides the Chairman, Alhaji Abdullahi Ibrahim, other members of the previous committee were Deputy Inspector General Anthony Ogbizi; a member from the Federal Ministry of Justice; Mualledi Dogondaji from the EFCC; Hassan Abdullahi from the Department of State Services; an unnamed member from the Office of the Accountant General of the Federation; Chinedu Ifediora from the Nigerian Financial Intelligence Unit, while Mr Kazeem Attitebi served as the secretary.

The Salami panel was constituted to enable the suspended EFCC chairman respond to allegations levelled against him in the report of the committee on audit of recovered assets.