JUST IN! N550bn Recovered loot As Magu failed to account for interest
A previous presidential panel, which investigated the suspended performing Chairman of the Financial and Monetary Crimes Fee, Ibrahim Magu, indicted him, a report revealed by the Information Company of Nigeria has alleged.
The report, in response to NAN, famous that the embattled EFCC boss had been unable to account for the curiosity generated from N550bn money recovered from 2015 to 2020.
READ FULL DETAILS HERE
The panel is separate from the panel led by a former President of the Court docket of Enchantment, Justice Ayo Salami, which is at present probing Magu and different high officers of the company.
The chairman of the earlier committee was Alhaji Abdullahi Ibrahim and the members had been DIG Anthony Ogbizi; a member from Federal Ministry of Justice; Mualledi Dogondaji from the EFCC; Hassan Abdullahi from the DSS; an unnamed member from the Workplace of the Accountant Basic of the Federation; Chinedu Ifediora from the NFIU, whereas Mr. Kazeem Attitebi served because of the secretary.
The committee’s report, it was learned, grew to become the idea for the establishment of the Salami-led panel.
The report titled, ‘Final Report of the Presidential Investigation Committee on the EFCC Federal Government Recovered Assets and Finances from May 2015 to May 2020’ was obtained by the Federal Authorities-owned Information Company of Nigeria.
The report learns partly, “Failure to report on the curiosity on precise lodgements establishes that the curiosity component of over N550bn has been re-looted referring to the interval below overview.
“That is an obvious case of manipulation of knowledge in a brazen and unprofessional method and this has drastically eroded the general public confidence within the anti-corruption efforts.”
The panel mentioned it was fairly disturbing that conflicting figures had been being circulated within the public area by the EFCC as the number of recovered funds.
It mentioned these inconsistencies forged severe doubt on the accuracy of figures submitted by the EFCC.
The committee mentioned it was of the view that the EFCC couldn’t be mentioned to have accounted for money recoveries made by it, noting that there have been discrepancies between what the embattled chairman reported and the lodgements the fee made.
It added, “It should be identified that the discrepancy of greater than N31bn doesn’t embrace curiosity accrued on this account because it was opened.
“It due to this fact forged severe doubt on the credibility of the figures and signifies that a substantial amount of cash has not been precisely accounted for.”
NAN noticed that the report had additionally confirmed the considerations of the general public about contradictory restoration figures emanating from Magu.
The Presidential Committee on Audit of Recovered Property revealed how the investigative experiences on EFCC’s actions by the Nigeria Monetary Intelligence Unit uncovered acts of corruption and cash laundering in opposition to some EFCC officers, together with Magu.
The report added, “The NFIU experiences established that the performing chairman has been utilizing completely different sources to siphon cash from the EFCC.
“The report has proven {that a} specific Bureau de Change, owned by Ahmed Shanono linked to the performing chairman primarily based in Kaduna, has greater than 158 accounts and has been receiving big sums of funds.”
The committee accused Magu of paying an outstanding Lagos-based senior advocate N28m.
…alleges he acquired N573m Dubai property by pastor
The panel accused the suspended EFCC boss of utilizing one Pastor Omale to launder funds overseas.
Omale’s title was uncovered by an investigative report on EFCC’s actions by the NFIU.
In response to the report, the unknown clergyman is alleged to have purchased a property on behalf of Magu value N573m in Dubai, United Arab Emirates.
“As an unknown pastor, the NFIU’s report showed the huge movement of funds ranging from N573,228,040.41,” the report mentioned.
NAN additionally gathered that efforts had been intensified to reveal the actual identification of the pastor to arraign him for prosecution if discovered culpable.
In the meantime, efforts to succeed in the mentioned pastor to get his response weren’t profitable. Several calls made to his cell phone weren’t answered whereas the textual content message despatched to him had but to be replied as of 12:52 am.
The committee accused the suspended EFCC boss of mishandling the probe of a former Minister of Petroleum Assets, Diezani Alison-Madueke.
The suspended EFCC boss was accused of failing to cooperate with authorities in the UK to facilitate efficient prosecution of the case.
The report learns partly, “Within the Diezani Alison-Madueke case, the performing chairman is failing to additional cooperate with the UK NCA (Nationwide Crime Company) to allow them to cost the previous minister to court docket within the UK.
“The performing chairman, regardless of his data that Mrs. Alison-Madueke won’t be extradited to Nigeria till after her trial within the UK, has persistently been accusing the UK authorities on the pages of print and digital media of not desirous to extradite her to Nigeria.”
Magu was additionally accused of intentionally refusing to supply documentary proof that may make the workplace of the Lawyer-Basic to start the extradition technique of Diezani Madueke.
“This has strained the EFCC’s relationship with Europe, our most strategic associate,’’ the report additional noticed.
NAN reported that Magu, who’s being held on the Police headquarters, Abuja, is predicted to reappear earlier than the Salami probe panel on Monday to defend himself in opposition to several allegations.
No sacred cows in Buhari’s govt, EFCC greater than Magu – Presidency
The Presidency on Saturday mentioned those that held the idea that the continuing investigation of the suspended the EFCC performing chairman was a sign of the regime’s failing anti-corruption combat had missed the purpose.
It mentioned reasonably, the event was additional proof that the combat was actual and lively.
The Senior Particular Assistant to the President on Media and Publicity, Garba Shehu, in an announcement, titled ‘Presidency’s assertion on the suspension of Mr. Ibrahim Magu’, mentioned this was the primary time the Presidency would react formally since Magu’s travails began on Monday when he was arrested and introduced earlier than the Justice Ayo Salami-led presidential panel.
The assertion added, “There isn’t a higher indicates that the combat is actual and lively than the desire to research allegations in an open and clear method in opposition to those that have been charged to be custodians of this very system.
“Underneath this President and authorities, that is our mantra and guideline. There aren’t any sacred cows, and for many who assume they have a halo over their heads, their days are additionally numbered.
“Mr. Magu was not immune – and whatever the apparent embarrassment that potential acts of wrongdoing by him, given the workplace he held, might seem for the federal government.
“No different administration within the historical past of Nigeria would have moved to deliver into the sunshine and public area such an allegation.”
Shehu defined {that a} collection of documented allegations had been made in opposition to Magu, noting {that a} preliminary overview of the allegations leveled in opposition to him and several other different members of his workers revealed that there have been grounds for an in-depth investigation to be carried out, therefore, an investigative panel was constituted in compliance with the extant legal guidelines governing the convening of such a physique.
Justifying Magu’s suspension, Shehu added, “As is the proper procedure, when allegations are made against the chief executive of an institution, and in this case an institution that ought to be seen as beyond reproach, the chief executive has to step down from his post and allow for a transparent and unhindered investigation.”
He mentioned Magu’s suspension would enable the EFCC to proceed its work without the cloud of an investigation hanging over its head, noting that the EFCC doesn’t revolve across the persona of a person and as such couldn’t be seen by the prism of any particular person.
He added, “Mr. Magu is being availed the chance to defend himself and reply to the allegations in opposition to him. That is the way it must be, as is the truth that below the Legal guidelines of Nigeria each citizen is presumed and stays harmless till confirmed responsible.
“What’s nevertheless necessary is that there should be accountability and transparency and our individuals should realize that they’d be held to account. That is the constructing block within the combat in opposition to corruption, the institution of the idea of accountability, and the popularity of the rule of regulation.”
Magu’s bail request receiving consideration, he’ll be launched Monday – Lawyer
Counsel for Magu, Mr. Tosin Ojaomo, on Saturday, expressed confidence that his consumer could be launched from detention on Monday.
Ojaomo advised Sunday PUNCH that he had met Magu on the detention facility on the Pressure Prison Investigation Division in Garki Space 10, in Abuja, and had a client-lawyer interview with him for about an hour on Saturday.
He had on Friday utilized to the Inspector-Basic of Police, Mohammed Adamu, to launch Magu on bail.
Ojaomo mentioned, “Magu shouldn’t be on trial. He has been showing earlier than the panel which is only a fact-finding panel. Our sole concern is that he’s in detention. We strongly consider that he will probably be launched on Monday unfailingly.
“Our software for bail is receiving consideration. These celebrating that Magu is gone must be able to face extra disaster so long as they proceed to partake in corruption.”
Ojaomo advised our correspondent on Saturday that Magu, whom he reportedly met in excessive spirits, denied Malami’s allegations throughout their client-lawyer interview session on the FCID facility on Saturday.
The lawyer added, “He told me the allegations are frivolous, vexatious, and are all concocted to blackmail him and subject him to public ridicule and opprobrium, nothing more. I am more confident now. If a man is innocent, he will not be shaken. He is not bothered. He is waiting for his name to be cleared so he can fight the more. Magu is coming back. Magu has not done anything wrong.”
The lawyer mentioned the allegations raised by the AGF had been responded to, including that his consumer had not been allowed to be represented by a lawyer on the panel.
Magu should reply for all alleged crimes, says PDP
The Peoples Democratic Get together on Saturday mentioned Magu should reply for all his alleged infractions as a way to restore public confidence within the anti-graft company.
In an announcement, titled ‘Fraud: Magu must answer for alleged violations, victimization and stealing’ by its Nationwide Publicity Secretary, Kola Ologbondiyan, the get together known as on the regime of the President, Main Basic Muhammadu Buhari (retd.), to not defend the embattled EFCC chairman, however, make sure that the solutions for his alleged offenses.
The opposition gets together described him as unfit to guide a company just like the EFCC and decreasing it to a partisan organization that engages in a witch-hunt and thrives on violation of guidelines, abuse of investigation of processes, manipulation of court docket procedures and an automobile to harass harmless Nigerians.
The assertion added, “Magu must be made to supply solutions to allegations within the public area that he was extra interested in securing politically induced convictions reasonably than justice, for which he allegedly turned the EFCC right into a terror home the place harmless Nigerians are harassed with trumped-up expenses and convicted on media trial even earlier than being allowed to defend themselves in court docket.
“Nigerians can recall that below Magu the previous Nationwide Chairman of the All Progressives Congress, Adams Oshiomhole, was daring to state that after a corrupt individual joins the APC, all their sins are forgiven.
“There are additional allegations of violation of rights, together with allegedly making his victims give statements in custody without the companies of their attorneys.”
Whereas urging the judiciary to research the alleged connection between the indicted EFCC boss and sure judges dealing with EFCC instances, the PDP mentioned Nigerians would count on the Federal Authorities to make sure Magu’s prosecution (if discovered responsibly) and take decisive steps to revive the integrity of the EFCC by making certain that his substitute is screened to keep away from the “ills and violations” skilled below the suspended performing chairman.
Magu’s lawyer to Salami Panel: Probe AGF’s alleged involvement in the sale of property
In the meantime, Magu, by his lawyer, has requested the Justice Ayo Salami-led Presidential Panel to research the alleged sale of recovered property by the workplace of the Lawyer Basic of the Federation and Minister of Justice.
Magu defined that the AGF, Abubakar Malami (SAN), had no constitutional authority to approve the public sale of recovered property which he mentioned was the duty of the Minister of Finance.
Saturday PUNCH had in a report revealed on July 11 revealed two separate approvals granted to an auctioneer by the AGF to conduct an open bid on the market of crude oil and diesel in addition to 5 vessels forfeited by unlawful bunkering operators to the federal government.
However, Magu, who spoke by his lawyer, Tosin Ojaomo of Ojaomo and Ojaomo chambers on Saturday, pressured that the justice minister had no energy below part 174 of the 199 Structure to dabble into property administration, including that the regulation solely empowers him to institute and undertake felony proceedings.
He attributed his consumer’s travails to detractors who he mentioned weren’t comfy with the truth that he (Magu) was remitting cash on to the Federal Authorities coffers.
READ FULL DETAILS HERE
Requested if he was demanding the probe of the AGF for alleged involvement within the sale of recovered property, the lawyer acknowledged, “Yes, I’m calling for that; I’m calling for a probe of the AGF. Ladies, Mohammed, head of assets recovery management in the office of the AGF should be brought to the panel to tell Nigerians how much they have managed in terms of assets.”
“On what grounds is the AGF appointing contractors to conduct open bid? You can see that there is a question mark on the company appointed to conduct the auction. There is one Omoh-Jay Nigeria Ltd, according to your report. There is a moral burden. The same person was tried by the EFCC, the same firm was now being picked to sell the assets recovered by the EFCC.”
Requested why the EFCC was concerned in asset disposal without AGF’s approval because the supervising minister, the lawyer contended that the fee concerned the statutory businesses such because the Central Financial institution of Nigeria and the Nigerian Monetary Intelligence Unit in its public sale train.
