Malami Compromise Transparency Procedure: Magu clears air on missing recovered assets

Mr Ibrahim Magu, the suspended acting chairman of Economic and Financial Crimes Commission EFCC has cleared the air on Allegations that he diverted some of the recovered assets for his personal property.

Mr Magu who is standing investigation by presidential panel led by Justice Ayo Salami over multiple Allegations which includes converting hundreds of houses and vehicles recovered from looters for personal property by the Attorney General of the Federation and Minister of justice Abubakar Malami.

He explained that some of the recovered vehicles from looters were sold to the Presidential Villa, Ministries, and other agencies of the government.

In a letter to the Justice Ayo Salami – led panel, Magu said it has become expedient for him to clarify the Allegations as reported by various media platforms that he was unable to account for recovered assets during his investigation.

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According to him, some of the recovered vehicles were auctioned to the Ministry of Humanitarian Affairs, Disaster Management and Social Development, Federal Inland Revenue Service FIRS, National Commission for Refugees and Displaced Persons and National Directorate of Employment.

Magu revealed that the buyers are yet to pay for the vehicles but there was already arrangement in place for the payment of the money. He also revealed that about 450 other vehicles are still in the custody of the commission and are yet to be sold.

Magu said some of the houses permanently forfeited to the Federal Government by looters had also been handed over to some government agencies such as Voice of Nigeria VON, North East Development Commission, and Pension Transitional Management Directorate.

He explained that some other properties, which had been forfeited pending the outcome of court cases, were being rented by the Lagos State Government, Fiscal Responsibility Commission, Nigerians in Diaspora Commission, Federal Airports Authority of Nigeria, Federal Ministry of Finance and Nigeria Army.

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He maintained that evidence and documents relating to all activities of the commission is there for everyone to see as the commission since the inception of his leadership has never taken action unilaterally without legal backup.

Malami Compromised Transparency Procedure

Magu who was responding to Allegations leveled against him by Malami accused Malami of working at cross-purposes with the commission and undermining the anti corruption effort of President Muhammadu Buhari.

He accused Malami of sabotaging the commission’s effort in the disposal of vessels involved in illegal activities to the extent of costing the country at least N283 million in recovered assets.

He said Malami deliberately rejected letter written to him by the commission to begin the legal process of disposing the vessels but instead went the other way and secretly sold the vessels to the same companies standing trial for involving in economic sabotage against the Nigerian government.

He accused Malami of ignoring court documents directing the commission to begin the process of disposing the vessels but rather initiated his own process by contracting a private law firm, Dipo Opeseyi and Co to obtain a forfeiture on his behalf where it was later learnt he had through an auctioneer the commission engaged that Malami’s auctioneer has commenced the process of disposing the vessels.

He therefore called on Nigerians to be wary of the mechanisms corruption is using to fight back. He said he has confidence in the panel and at the end of the day, Nigerians will see the truth.

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