Mr Ibrahim Magu, the acting chairman of the Economic Financial Crimes Commission who had been earlier suspended on the account of being involved in fraudulent acts and other corruption related charges is currently facing fresh charges of allegedly re-looting recuperated funds.
Reports coming from NAN, News agency of Nigeria, suggests that Magu is at present being examined by a presidential panel headed by now retired Justice Ayo Salami over claims of mismanagement and opaqueness in overseeing recouped funds by the EFCC.
A last report of the Presidential Investigation Committee on the EFCC Federal Government Recovered Assets and Finances from May 2015 to May 2020, acquired by NAN had truly prosecuted and ensnared Magu on different charges leveled against him.
The new realities have developed on how financing costs accumulating from N550 billion recouped by the EFCC in the period under audit were purportedly re-plundered.
NAN additionally saw that the Final Report of Presidential Committee on Audit of Recovered Assets (PCARA) that secured the time of May 29, 2015, to Nov. 22, 2018, had likewise affirmed the worries of the general population about opposing recuperation figures radiating from Magu.
“It is very upsetting that clashing figures are being coursed in the open space by EFCC as the measure of recouped reserves.
“For Foreign money recuperations, EFCC announced an all out naira likeness of N46,038,882,509.87, while what could be compared to the foreign currency lodgments was N37,533,764,195.66, speaking to a shortage of N8,505,118,314.21.
“These irregularities provide reason to feel ambiguous about the ingenuity of the exactness of the fgures presented by the EFCC . It is the board’s view that the EFCC can’t be said to have completely presented money recuperations made by it.
“While EFCC revealed absolute Naira recuperations of N504,154,184,744.04, the genuine bank lodgements were N543,511,792,863.47. These errors imply that EFCC’s real lodgment surpassed its detailed recuperations by N39,357,608,119.43.
“It must be called attention to that the error of more than thirty-nine billion naira does exclude interest collected in the account since it was opened.
“It, along these lines, provides reason to feel ambiguous about how genuine the validity of the figures and implies that a significant measure of cash has not been precisely represented.
“Inability to give an account of the enthusiasm on real lodgements unmistakably builds up that the interest component of over N550 billion has been re-plundered identifying with the period under audit.
“This is an obvious instance of control of information in a shameless and amateurish way and this has incredibly dissolved the open trust in the agency’s endeavors.
Additional reports coming from NAN also suggests tha that the PCARA uncovered how the insightful reports on EFCC’s exercises by the Nigeria Financial Intelligence Unit (NFIU) uncovered demonstrations of corruption and tax evasion against some EFCC authorities, Magu inclusive.
“The reports built up by the agency uncovered that the Acting Chairman has been utilizing various sources to siphon cash from the EFCC, and at times gathering pay-offs from suspects.
“The report has indicated that a specific Bureau de Change, claimed by Ahmed Ibrahim Shanono connected to the Acting Chairman situated in Kaduna has in excess of 158 accounts and has been getting colossal entireties of assets.
“The connection to Magu was additionally settled by the installment of N28 million to FALANA who is a nearby partner and partner of the Acting Chairman,” the PCARA report additionally uncovered.
NAN reports that the presidential panel is relied upon to keep sitting on Monday while Magu’s attorney, Mr Oluwatosin Ojaomo, had on Friday applied for an authoritative bail for his client, who is confronting corruption and different charges before the board.