ANTI-GRAFT: EFCC’s Magu Knows Fate, As Presidential Audit Committee On Recovered Assets Re-Looting Submits Report


The Acting Chair of the Economic and Financial Crimes Commission, EFCC, Ibrahim Mustafa Magu, would be informed about his unrighteous activities behind the scenes, DENISAURUS News learned.

According to our reliable source, this Newspaper understands that EFCC’s Magu, who had succeeded in ‘hoodwinking and cajoling’ most gullible Nigerians over the years, is not genuine in the fight against corruption.

Mr Magu was rejected by the NASS Senate in December 2016, and March 2017, following a damning report from the Department of State Services, DSS, under former Director General Lawal M Daura.

The secret police had described EFCC’s Magu as a ‘perennial offender‘ and would be a ‘liability to the anti-graft war’ of the present administration.

Meanwhile, there have been allegations over the years, that anti- corruption agencies may be culpable in swindling the Federal Government on Assets Recovery and Re-Looting. Hence, the setting up of a Presidential Audit Committee to unravel the unpatriotic dealings.

DENISAURUS News understands that agencies involved in assets recovery are the Nigeria Police Force NPF, Economic and Financial Crimes Commission EFCC, Department of State Services DSS, Independent Corrupt Practices and Other related Offences Commission ICPC, Code of Conduct Bureau CCB, and others.

However, a Presidential Committee on the Audit of Recovered Public Assets had submitted its report, and informed President Muhammadu Buhari in the State House that it had recovered N769 billion, a media (not DENISAURUS News) reported.


Making the disclosure at a meeting with the president, the Chairman of the three-man committee, Olufemi Lijadu, said the committee was mandated to audit recovered government assets by government agencies.

This is coming as President Buhari has called on the National Assembly to pass Proceeds of Crimes Bill, saying it will strengthen the administration’s asset recovery mission.

Mr Lijadu averred that, the committee obtained access to records, including bank statements and other information from government agencies, banks and other organisations in relation to recovered cash and non-cash public assets.

In his remarks, President Buhari pointed out that asset recovery was an integral part of the war against corruption. He called on the National Assembly to pass Proceeds of Crimes Bill before, saying it will strengthen the administration’s asset recovery mission.

“Once the Bill is passed and assented, many of the challenges facing our asset recovery and management practice will be adequately taken care of as the bill addresses most of the challenges facing effective asset recovery and management in Nigeria.

“I therefore encourage the National Assembly to take necessary steps to pass the bill,” he said.

In his submission, Attorney-General of the Federation and Minister of Justice, Abubakar Malami, gave a mini breakdown of the recovered assets.
He said: “The federal government recovered N13.8 billion from tax evaders in May 2018.

“In May 2018, the government paid N439.2million to about 14 whistle blowers who gave specific information on tax evasion.

“Again, N3.8 million, $378million 27,800 pounds were equally recovered from public officials.

“In summary, the recovered funds by the three-man committee are N769 billion naira cash, recovered within the period under review.”

With the latest development over the report from the Presidential Audit Committee, DENISAURUS News was informed that Staff Members at Anti-graft Agency are hopeful things may change.

In the past few years, this Newspaper had reported the various infractions committed by Mr Magu, to subvert the growth and development at the EFCC.

Unfortunately, the anti-graft boss continues to gain support from Pastor Professor Senior Advocate of Nigeria, Vice President Yemi Osinbajo, who according to sources, has kept  EFCC’s Magu because he is a veritable instrument needed for unholy indulgences ahead of the 2019 general elections.


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