SHOCKING: EFCC’s Magu In Trouble As Finance Minister Faults Agency’s Recoveries

By TheWhistler

Following claims That The Economic And Financial Crimes Commission has recovered about N740 Billion between May 2015 till date, The Federal Ministry Of Finance has faulted the anti-graft agency (Leadership Of Ibrahim Mustafa Magu) on its recoveries.

The Minister Of Finance, Kemi Adeosun, in a letter dated 9 February, 2018 and addressed to the EFCC boss, Mr Magu, directed the anti-graft agency to appear before The Ministry and “clarify where the clash recoveries have been deposited and provide accompanying evidence.”

The Minister’s letter come days after Mr Magu claimed the EFCC recovered about N511.9 Billion In 2017.

The anti-graft chief told lawmakers at his agency’s 2018 Budget defence that between January And December 2017, The EFCC recovered more than N473 Billion, $98 Million, €7 Million, and £294,000 among others.

But according to the letter by Mrs Adeosun, Mr Magu’s vlaim does not reconcile with the records of the Ministry.

The letter reads: “This is to notify you of the records of cash assets recoveries in the custody of  the Economic And Financial Crimes Commission (EFCC) from May 2015 till date based on information available to the Office Of The Accountant General Of The Federation (attached).


“It has however, come to the attention of the The Ministry Of Finance, the use of recovery figures in media reports by the EFCC that do not reconcile with the records of the Ministry.

“You Are Therefore, Kindly Requested To Clarify Where These Cash Recoveries Have Been Deposited And Provide Accompanying Evidence.”

The anti-graft agency had last year at a conference of the state parties to the United Nations Convention Against Corruption held in Vienna said it recovered loots totallling N738.9 Billion Or $2.9 Billion between May 2015 and October 20, 2017.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s