Magu: Fresh controversy over seized assets sale, others

Audit panel queries whereabouts of bank interest on seized cashNo seized assets sold in five years —InvestigationAn audit panel has raised questions on the whereabouts of the interest accruing from N550 billion recovered by the Economic and Financial Crimes Commission from treasury looters.

The proceeds of the sales were remitted into the Federal Government Recovery Account, it was gathered. “While EFCC reported total Naira recoveries of N504,154,184,744.04, the actual bank lodgments were N543,511,792,863.47. These discrepancies mean that EFCC’s actual lodgment exceeded its reported recoveries by N39,357,608,119.43.

“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,’’ the report stated in part. “The link to Magu was also established by the payment of N28 million” to a Lagos based lawyer who is a close associate and ally of the Acting Chairman,’ the PCARA report said.

He told his relations and lawyers that he has faith in President Muhammadu Buhari to ensure fairness and justice for him.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Magu: Report says interest on N550 bn re-looted | Premium Times NigeriaThe News Agency of Nigeria quotes the Ayo Salami as indicting the suspended EFCC boss of serious economic crimes.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge - Daily Post NigeriaThe suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, may be facing fresh cases of alleged re-looting of
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Magu: Abdulsalami speaks on EFCC raidFormer Head of State General Abdulsalami Abubakar on Thursday cleared the air on an op-ed penned by the spokesman of late President Umaru Yar’adua, Segun Adeniyi, in which he said EFCC operatives h…
Source: Daily Trust - 🏆 13. / 51 Read more »

Magu battles for bail as EFCC chiefs face panel - The Nation NewsFridayHeadlines 10th of July 2020 1. Magu battles for bail as officialEFCC chiefs face panel - 2. Lagos alerts residents to looming floods - Kingbiodun_ GabrielOgunjob2 Meeknessbol Mr_JAGss Riddwane PWelundu egberobert
Source: TheNationNews - 🏆 6. / 69 Read more »

Why Magu may not make bail soon - Vanguard NewsMagu is being detained on the ground floor of the Force Criminal Investigations Department, from where he is taken, daily, to the Villa...
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Ibrahim Magu not suspended as acting EFCC chairman - Lawyer insists - Daily Post NigeriaCounsel to the suspended acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, Tosin Ojaomo has insisted that his client
Source: DailyPostNGR - 🏆 11. / 59 Read more »