Presidential Panel indicts Magu -

Presidential Panel indicts Magu

•Magu

A prior presidential panel, which investigated the suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, indicted him, a report published by the News Agency of Nigeria has alleged.

The report, according to NAN, noted that the embattled EFCC boss had been unable to account for the interest generated from N550bn cash recovered from 2015 to 2020

The panel is separate from the panel led by a former President of the Court of Appeal, Justice Ayo Salami, which is currently probing Magu and other top officials of the agency.

The chairman of the previous committee was Alhaji Abdullahi Ibrahim and the members were 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 Office of the Accountant General of the Federation; Chinedu Ifediora from the NFIU, while Mr Kazeem Attitebi served as the secretary.

The committee’s report, it was learnt, became the basis for the setting up 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 Government-owned News Agency of Nigeria.

The report read in part, “Failure to report on the interest on actual lodgements clearly establishes that the interest element of over N550bn has been re-looted relating to the period under review.

“This is an apparent case of manipulation of data in a very brazen and unprofessional manner and this has greatly eroded the public confidence in the anti-corruption efforts.”

See also AMCON INVADES VICTORY PARK ESTATE WITH POLICEMEN AND ARMED THUGS ..........FORCIBLY THROW OUT WOMEN AND CHILDREN FROM THEIR HOMES Tuesday, 25th June 2019 was a traumatic day for over 300 Families in Victory Park Estate, Lekki Lagos. Asset Management Corporation of Nigeria (AMCON) in a gestapo style action invaded the homes of Residents in Victory Park Estate while most residents were at their places of work leaving their young families exposed to the invasion of over 30 armed police men and over fifty thugs claiming to be executing a High Court Judgement of 2017 against Knight Rook, Grant Properties and the Awosedo’s (Promoters of Victory Park Estate). According to eyewitness who craved anonymity “the Action was carefully planned by the AMCON and its Receiver Manager, Mr. Lanre Olaoluwa to take place at a time that most Home Owners would be at their places of work”. Homeowners had to rush back to the Estate when they received a distress call from vulnerable members of their families left at home. A traumatized resident who also witness the AMCON rampage lamented that “One of the families with children between the ages of 3 and below were forced out of their homes with little or no time to pick any personal effects under heavy downpour and very heavy armed presence”. He decried such inhumane treatment of hapless victims of high handedness and warned against a reoccurrence. AMCON Obtained a Judgement against the Promoters of the Estate and seeks to attach the lands and property in the Estate to the Judgement debt without taking into consideration existing encumbrances which are lands owned by Individuals and families who purchased their land, built their homes and have been living in the Estate without any notice at the time of purchase of their land of any encumbrances on the land. No Registered Mortgage and no Caveat at the Lands Registry. The various Banks that handed over the debt of the promoters to AMCON, knew that the Promoters were selling the lands to innocent hard working Nigerians who took loans to purchase land in a supposed secured Site and Service Estate having done their due diligence at the land registry. The Promoters and the Banks are parties to the fraud against innocent Nigerians and now AMCON has degenerated to an Omonile by taking over homes of families and sending mothers and children out of their homes under very heavy armed presence and down pour. AMCON is a supposed Agency of Government and must not be seen to exploit the vulnerability of families that genuinely purchased land and built their homes in their Country only to be evacuated from their homes in a gestapo manner. AMCON Act provides that AMCON and its Receiver Manager shall take over Assets subject to existing encumbrances. The Judgement against the Asset of the promoters should ideally not extend to what no longer belongs to the Promoters. “You cannot give what you don’t have”. Families in Victory Park now live in fear and horror not knowing which family will be next to be thrown out of their homes. A Government should not through its Agency treat its citizens like outcasts. The families are vulnerable, AMCON has the instrument of State, the Courts and the Police and now the self help thugs. “Who do the Citizens, the over 300 young families in Victory Park; Who do they have”. While the Families are seeking legal help, AMCON as a Government Agency is enjoined to immediately call to Order its Receiver Manager, Mr Lanre Olaoluwa who happens to be a legal practitioner to desist from the harassment and intimidation of families with the use of armed thugs and heavily armed police men.

The panel said it was quite disturbing that conflicting figures were being circulated in the public space by the EFCC as the amount of recovered funds.

It said these inconsistencies cast serious doubt on the accuracy of figures submitted by the EFCC.

The committee said it was of the view that the EFCC could not be said to have fully accounted for cash recoveries made by it, noting that there were discrepancies between what the embattled chairman reported and the lodgements the commission made.

It added, “It must be pointed out that the discrepancy of more than N31bn does not include interest accrued in this account since it was opened.

“It therefore cast serious doubt on the credibility of the figures and means that substantial amount of money has not been accurately accounted for.”

NAN observed that the report had also confirmed the concerns of the public about contradictory recovery figures emanating from Magu.

The Presidential Committee on Audit of Recovered Assets revealed how the investigative reports on EFCC’s activities by the Nigeria Financial Intelligence Unit exposed acts of corruption and money laundering against some EFCC officials, including Magu.

The report added, “The NFIU reports established that the acting chairman has been using different sources to siphon money from the EFCC.

“The report has shown that a particular Bureau de Change, owned by Ahmed Shanono linked to the acting chairman based in Kaduna, has more than 158 accounts and has been receiving huge sums of funds.”

The committee accused Magu of paying a prominent Lagos-based senior advocate N28m.

…alleges he acquired N573m Dubai property through pastor

The panel accused the suspended EFCC boss of using one Pastor Omale to launder funds abroad.

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Omale’s name was uncovered through an investigative report on EFCC’s activities by the NFIU.

According to the report, the unknown clergyman is alleged to have bought a property on behalf of Magu worth 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 said.

NAN also gathered that efforts had been intensified to expose the real identity of the pastor with a view to arraigning him for prosecution, if found culpable.

Meanwhile, efforts to reach the said pastor to get his reaction were not successful. Several calls made to his mobile phone were not answered while the text message sent to him had yet to be replied as of 12:52am.

The committee accused the suspended EFCC boss of mishandling the probe of a former Minister of Petroleum Resources, Diezani Alison-Madueke.

The suspended EFCC boss was accused of failing to cooperate with authorities in the United Kingdom to facilitate effective prosecution of the case.

The report read in part, “In the Diezani Alison-Madueke case, the acting chairman is failing to further cooperate with the UK NCA (National Crime Agency) to enable them to charge the former minister to court in the UK.

“The acting chairman, despite his knowledge that Mrs Alison-Madueke will not be extradited to Nigeria until after her trial in the UK, has consistently been accusing the UK government on the pages of print and electronic media of not wanting to extradite her to Nigeria.”

Magu was also accused of deliberately refusing to provide documentary evidence that would make the office of the Attorney-General to commence the extradition process of Diezani Madueke.

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“This has strained the EFCC’s relationship with Europe, our most strategic partner,’’ the report further observed.

NAN reported that Magu, who is being held at the Police headquarters, Abuja, is expected to reappear before the Salami probe panel on Monday to defend himself against several allegations.

(C) NAN

News served as it breaks!

Presidential Panel indicts Magu

Presidential Panel indicts Magu

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