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Magu Denies Misappropriating N329bn Recovered Funds For NNPC | Sahara Reporters

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He said the fund was remitted directly into NNPC dedicated accounts via REMITTA under a special arrangement endorsed by the oil firm, the Economic and Financial Crimes Commission and the affected indebted marketers.

Suspended Acting Chairman of Economic and Financial Crimes Commission, Ibrahim Magu, has denied a media report that he misappropriated the sum of N329bn recovered for the Nigerian National Petroleum Corporation.He said NNPC formally requested the commission to recover the said amount from NNPC’s marketers and in turn confirmed the receipt of the fund.

“Our client is alarmed at the motive behind such spurious allegations in spite of altruistic service to the country without personal pecuniary benefits." While responding to the claim that Magu failed to explain the rationale for exclusion of culprits in the alleged misapplication of N3bn at the Federal Inland Revenue Service, Shittu said the matter had been referred for prosecution and charges had been prepared ahead of arraignment in court, therefore the question of complicity by Magu does not arise.

 

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