In News by Oluwaseun Samuel on the 13th, July, 2020

Magu Turned EFCC To A Glorified Police Station, He Might Not Account For The 332 Properties Recovered From Him

Magu Turned EFCC To A Glorified Police Station, He Could Not Account For The 332 Properties Recovered From Him


Ibrahim Magu

The suspended performing Chairman of the Financial and Monetary Crimes Fee (EFCC), Ibrahim Magu, has allegedly been accused of turning EFCC into `glorified police station’ for alleged egocentric motives.

The Presidential Committee on Audit of Recovered Belongings (PCARA) has launched its personal report on how Ibrahim Magu headed the Financial and Monetary Crimes Fee (EFCC) earlier than being suspended because the company’s performing chairman.

Magu who was accused of being unable to account for 332 out of the 836 recovered actual property property in March 2018, was additionally accused of turning the EFCC right into a “glorified police station” for alleged egocentric motives.

The panel which was arrange by President Buhari to look into the actions of the EFCC below Magu, alleged that he seconded law enforcement officials to EFCC officers despite the huge recruitment of law enforcement officials, carried out by the fee in recent times.

The report partly learn;

“The blatant show of vanity and acquisition of illicit wealth has turned the EFCC right into a glorified police station.

“Regardless of large recruitment of officers and males in recent times by the (suspended) performing chairman on the EFCC, he’s nonetheless seconding law enforcement officials to the EFCC as a result of he’s snug along with his fellow officers to hold out his illicit actions.

“He doesn’t have any exit technique for the police regardless that the EFCC officers are extra skilled within the investigation of financial and monetary crimes.”

The properties alleged to have been illegally acquired in addition to the financial institution accounts of these people serving as fronts for Magu had been additionally printed within the report.

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The report added;

“A lot of the recovered property are allegedly offered with out anybody realizing and with out correct information and with out recourse to the Federal Ministry of Works and Housing that has the mandate to undertake analysis of such property.

“A number of the property have been taken over by EFCC officers whereas some are offered at giveaway costs to buddies and cronies of the Appearing Chairman.

“Additionally it is on document that the (suspended) performing chairman is sustaining completely different accounts, together with utilizing proxies who return the good thing about the offered property to him.

“These funds are then used to acquire property and lands within the names of a few of his proxies.”

The “large wastage and deterioration” of bodily property (together with landed property, automobiles and vessels recovered by the EFCC on account of poor administration had been additionally highlighted within the report.

In keeping with the presidential panel, the anti-graft company below Magu didn’t protect and realise the financial worth of the recovered property.

It added;

“A disturbing instance is the 2 vessels that allegedly sunk at NNS Beecroft Naval BASE, Lagos and NNS Pathfinder Naval Base in Port Harcourt with out hint below the watch of the performing Chairman of EFCC.

“The vessels named MT GOOD SUCCESS, MV PSV DERBY and MV THAMES had been allowed to sink despite a number of warnings from the Navy on the necessity to evacuate the petroleum merchandise within the vessels.

“The overall worth of the property misplaced because of the negligence runs into thousands and thousands of US . The (suspended) performing Chairman is but to supply a report on what occurred to those vessels.”

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Asides stating that the EFCC “couldn’t handle” your complete property by itself, the panel additionally disclosed that the anti-graft agenct allegedly made conflicting submissions or returns to it in respect of the non-cash property which affected its (panel) project.

The report learn;

“As an example, EFCC acknowledged 836 because the variety of Recovered Actual Property within the Authentic Returns it made to the President on 07/04/2017.

“Nonetheless, in its 1st Returns to PCARA on 13/12/2017, EFCC short-changed the system and gave the determine of 339 thereby failing to account for 497 property.

“It’s fascinating to notice that when the Appearing Chairman was additional queried on this lapse, he made additional contradictory 2nd return of 504 on 09/03/2018 thereby bridging the hole to 332 property.’’

The panel which listed lack of inside management mechanisms/programs inside EFCC and lack of ample returns by EFCC departments and zonal workplaces as causes for these discrepancies and inconsistencies, famous that Magu uncared for and refused to adjust to the rules on the administration of recovered property, 2019, as he allegedly launched into disposing of a number of the property with out regard to extant legislation.

The report added;

“These Rules was issued consistent with worldwide greatest practices and to make sure that all of the anti-corruption companies report all their recovered property in a database supplied by the Federal Authorities.

“You will need to word that the (suspended) Appearing Chairman in obvious disregard of the regulation is disposing of those properties with out regard to extant legal guidelines, and Rules and irrespective of the Workplace of the Legal professional Basic of the Federation and in impact, there isn’t any method to have an audit of the property.

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“That is additionally a transparent signal that there’s a deliberate try to cover the precise figures of recoveries, which is a sign of fraudulent intent.

“These actions of the (suspended) Ag. Chairman in refusing the Regulation is a transparent case of refusal to observe lawful directions and directives opposite to the provisions of the Act that set up the EFCC.”


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