Tag: Ibrahim Magu

  • Former EFCC Boss Magu Promoted To AIG Rank

    Former EFCC Boss Magu Promoted To AIG Rank

    Former acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has been promoted to the rank of Assistant Inspector General of Police, the Police Service Commission said on Monday.

    “The eight Commissioners of Police promoted to AIGs were; CP Mustafa Magu Ibrahim who is the most senior in the CP cadre and who missed the last two promotions after returning to the Police; Abraham Egong Ayim; Okunlola Kola Kamaldeen; Andrew Amieengheme; Akeera Mohammed Younous; Celestine Amechi Elumelu; Ngozi Vivian Onadeko and Danladi Bitrus Lalas (Airwing),” a statement signed by PSC spokesperson Ikechukwu Ani said.

    Magu served as acting Chairman of the EFCC from 2015 to 2020.

    The Senate twice refused to confirm him his appointment.

    Magu was later suspended along with several others for allegedly mismanaging funds of the commission, an allegation he repeatedly denied.

    He was probed for over three months by a judicial panel of inquiry led by a former President of the Court of Appeal, Justice Ayo Salami.

  • BREAKING: Magu Rejected As PSC Promotes Senior Officers

    BREAKING: Magu Rejected As PSC Promotes Senior Officers

    The Police Service Commission (PSC), on Thursday, rejected the promotion of a former Acting Chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu.

    The Commission said it is awaiting clearance from the office of the Attorney-General of the Federation and Minister of Justice and the Office of the Inspector General of Police.

    The announcement was contained in a statement made available to newsmen by its spokesman, Ikechukwu Ani.

    Reports had it that rumours were rife few days ago that President Muhammadu was planning to promote embattled former boss of the anti-graft agency.

    Details soon…

  • PDP kicks against alleged plans by FG to promote Magu

    PDP kicks against alleged plans by FG to promote Magu

    The People’s Democratic Party (PDP) has kicked against alleged plans by the Federal Government to promote the ex-Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu.

    The party is reacting to unconfirmed media reports indicating that plans were afoot to promote Magu to Assistant Inspector General of Police (AIG), even though the government has not come out with any official position on the alleged plans.

    In a statement on Tuesday by the spokesman for the PDP, Kola Ologbondiyan, the party slammed the federal government for encouraging corrupt practices by public officials.

    According to the PDP, the plan to promote Magu was in spite of his alleged open indictment for corruption and abuse of office, by the Justice Ayo Salami-led Presidential Investigation Panel.

    The party described the move to elevate Magu as outrageous and a direct slap on the sensibilities of Nigerians.

    The statement said: “It is indeed ludicrous, though true to its proclivity to cover corruption that the Buhari Presidency, instead of allowing the law to take its course, is rather rewarding corruption by reportedly planning to promote an individual indicted for treasury looting and compromising of high-profile corruption cases for pecuniary gains.

    “Our party invites Nigerians to note how the Buhari administration has failed to take disciplinary action against Magu, as recommended by the Salami panel, but seeks to reward him with a promotion in spite of the report by the Attorney General of the Federation, Abubakar Malami, which nailed him for alleged diversion of recovered funds and fraudulent sale of assets seized by the EFCC.

    “This is in addition to reports by the Department of State Services (DSS) which also stated that Magu had failed the integrity test and will eventually constitute a liability to the anti-corruption stand of the current government.

    “The reports of planned promotion for Magu have heightened apprehension in the public space that certain top officials in the Buhari Presidency are overburdened with corruption complicity and fear that a docked Magu would expose their atrocities.

    “Nigerians could recall how the counsel to Magu, Wahab Shittu, boastfully declared that he has Magu’s instruction to inform the public that he will be reinstated back to office.”

    The PDP called on the Police Service Commission (PSC) and the Police high command to resist the pressure from the “corrupt cabal” in the Buhari Presidency to pitch them against Nigerians over Magu.

    The main opposition party called on the PSC to commence processes for Magu’s prosecution in a court of competent jurisdiction in the interest of justice.

    It further called on President Buhari not to “ease off” the allegations of corruption against Magu but should make the Justice Salami report open to the public and if necessary, to prosecute the former EFCC boss.

  • EFCC: More troubles for Magu as new facts on re-looting of recovered funds, bribery emerge

    EFCC: More troubles for Magu as new facts on re-looting of recovered funds, bribery emerge

    The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, may be facing fresh cases of alleged re-looting of funds recovered by the commission as well as bribery.

    The News Agency of Nigeria (NAN) reports that Magu is currently being interrogated by a presidential probe panel headed by retired Justice Ayo Salami over allegations of mismanagement and lack of transparency in managing recovered assets by the EFCC.

    A final Report of the Presidential Investigation Committee on the EFCC Federal Government Recovered Assets and Finances from May, 2015, to May 2020, obtained by NAN had seriously indicted and implicated Magu on various allegations leveled against him.

    The investigative committee terms of reference were to:

    1. investigate, verify and review the recommendations of the Presidential Committee on Audit of Recovered Assets as it relates to the EFCC, with a view to ascertaining the complicity or otherwise of the Ag. Chairman, Ibrahim Magu, in the mismanagement of the assets recovered by the Commission;

    2. Identify Avenues through which the recovered assets are dissipated and seized, recovered, forfeited (Interim and Final) assets are valued, managed, disposed and/or mismanaged with a view to ascertain compliance or otherwise with extant laws, regulations, processes and procedures.

    3. Review the existing procedures on the Management of the seized, recovered and Forfeited assets (interim and final) and proffer Standard Operational Procedures for the management of seized, recovered and forfeited assets.

    4. Determine whether assets recovered during his tenure, whether locally in Nigeria or abroad, are being kept safely in a manner as to preserve their original value and determine:-

    Whether all the assets could be properly accounted for by the Ag. Chairman.
    To confirm if any of the assets has been diverted to the benefit of the Ag. Chairman, his family, relation, friends or favoured staff.
    To recover any such diverted assets and return back to the EFCC or appropriate government agency.
    The committee was also to investigate and report on corruption and money laundering allegations involving Magu and Bureau De Change operators, as well as some of his associates; as per the intelligence reports and petitions.

    It was to audit the Assets and Finances of the EFCC as a legal entity from 2015-2020, with a view to establish compliance or otherwise with procurement procedures of the EFCC in line with the provisions of the Procurement Act.

    However, new facts have emerged on how interest rates accruing from N550 billion recovered by the EFCC in the period under review were allegedly re-looted.

    Magu is now expected to disclose the whereabouts of the missing interest funds running into millions of naira.

    NAN also observed that the Final Report of Presidential Committee on Audit of Recovered Assets (PCARA) that covered the period of May 29, 2015, to Nov. 22, 2018, had also confirmed the concerns of the public about contradictory recovery figures emanating from Magu.

    “It is quite disturbing that conflicting figures are being circulated in the public space by EFCC as the amount of recovered funds

    “For Foreign currency recoveries, EFCC reported a total naira equivalent of N46,038,882,509.87, while the naira equivalent of the foreign currency lodgments were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21.

    “These inconsistencies cast a serious doubt on the accuracy of figures submitted by the EFCC. It is the committee’s view that the EFCC cannot be said to have fully accounted for cash recoveries made by it.

    “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.

    “It must be pointed out that the discrepancy of more than thirty nine billion naira 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.

    “Failure to report on the interest on actual lodgments clearly establishes that interest element of over N550 billion 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,’’ the report stated in part.

    NAN also reports that the PCARA revealed how the investigative reports on EFCC’s activities by the Nigeria Financial Intelligence Unit (NFIU) exposed acts of corruption and money laundering against some EFCC officials, including Magu.

    “The NFIU reports established that the Acting Chairman has been using different sources to siphon money from the EFCC, and in some cases collecting bribes from suspects.

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

    “The link to Magu was also established by the payment of N28 million to FALANA who is a close associate and ally of the Acting Chairman,’’ the PCARA report further revealed.

    NAN reports that the Salami probe panel is expected to continue sitting on Monday while Magu’s lawyer, Mr Oluwatosin Ojaomo, had on Friday applied for an administrative bail for his client, who is facing corruption and other charges before the panel. (NAN)

  • BREAKING: DSS arrests acting EFCC Boss, Ibrahim Magu

    BREAKING: DSS arrests acting EFCC Boss, Ibrahim Magu

    Ibrahim Magu, Acting Chairman of the Economic and Financial Crimes Commission (EFCC), has been arrested by the Department of State Services (DSS).

    Sahara Reporters say he was arrested over allegations that he owns four properties.

    He is also alleged to have transferred funds abroad through a third party.

    In 2016, DSS accused the EFCC boss of living in a N40m mansion paid for by one Umar Mohammed, a retired Air Commodore.

    EFCC spokesman, Dele Oyewale, did not take calls.

    The DSS report said on December 2010, the Police Service Commission (PSC) found Magu guilty of action prejudicial to state security – withholding of EFCC files, sabotage, unauthorised removal of EFCC files and acts unbecoming of a police officer, and awarded him severe reprimand as punishment.

    It noted that Magu is “currently occupying a residence rented for N40m at N20m per annum. This accommodation was not paid [for] from the commission’s finances, but by one Umar Mohammed, air commodore retired, a questionable businessman who has subsequently been arrested by the secret service”.

    DSS stated that Magu enlisted “the Federal Capital Development Authority to award a contract to Africa Energy, a company owned by the same Mohammed, to furnish the residence at the cost of N43m”

    In one of such trips, the report added that Magu flew to Maiduguri alongside Mohammed with a bank MD who was being investigated by the EFCC over complicity in funds allegedly stolen by the immediate past petroleum minister, Diezani Alison-Madueke.

    “Furthermore, the EFCC boss has so far maintained a high-profile lifestyle. This is exemplified by his preference for first-class air travels. On 24 June 2016, he flew Emirate airlines first-class to Saudi Arabia to perform lesser hajj at the cost of N2.9m. This is in spite of Mr President’s directive to all public servants to fly economy class.

    “Magu has fostered a beneficial relationship with Mohammed who by his confession approaches clients for possible exploitation, favours and associated returns,” the DSS report said.