The presidential panel that looked into Ibrahim Magu, the former acting chairman of the Economic and Financial Crimes Body, has discovered that 14 fraud investigations totalling N118 billion and $309 million were dropped under his leadership by the anti-graft commission.
As the EFCC’s acting head, Magu was apprehended, arrested, and suspended in July 2020. He was hauled before the panel under the direction of Justice Ayo Salami on grounds of severe misconduct.
The EFCC was under Magu’s leadership from May 2015 to May 2020, and a team led by Ayo Salami, a former president of the court of appeal, was appointed to investigate the organization.
He was also accused of obstructing the prosecution in prominent instances involving four former governors, one of whom is now a senator.
According to reports, in November 2020, President Muhammadu Buhari received the final report. Under Magu’s leadership, the EFCC was also accused of withholding N48 billion in loot that had been recovered in both international and domestic currency.
It was claimed that the former EFCC boss mishandled the recovered wealth and sold the confiscated property to his friends.
Having completed a nationwide physical verification of recovered forfeited assets, including real estate, automobiles, vessels, and other non-cash and cash assets, the report examined the written and oral testimony of more than 100 witnesses.
The anti-graft commission provided conflicting information regarding the overall amount of seized properties, according to an analysis of the Presidential Committee on Audit of Recovered Assets report.
“The EFCC under the watch of the suspended Ag. Chairman in its submission to PCARA reported N46,038,882,509.87 as being the foreign currency equivalent recovered by the commission between May 29, 2015, and November 22, 2018,” the report stated.
It added, “The EFCC, however, only produced evidence of lodgements of thirty-seven billion, five hundred and thirty-three million, seven hundred and sixty-four thousand, one hundred and ninety-five naira, sixty-six kobo, leaving a shortfall of eight billion, five hundred and five million, one hundred and eighteen thousand, three hundred and fourteen naira, twenty-one kobo.
“The EFCC reported to PCARA a total naira recovery of five and four billion, one hundred and fifty-four million, one hundred and eighty-four thousand, seven hundred and forty-four naira, four kobo, the actual bank lodgement of the naira recoveries was, however, five hundred and forty-three billion, five hundred and eleven million, seven hundred and ninety-two thousand, eight hundred and sixty-three naira, forty-seven kobo.
“That EFCC failed to produce before PCARA the evidence/record of the difference of thirty-nine billion, three hundred and fifty-seven million, six hundred and eight thousand, one hundred and nineteen naira, forty-three kobo.
“The EFCC, in its returns on non-cash assets, made to the president on April 7, 2017, declared 836 as the total number of recovered real estates, while in its first and second returns to PCARA, it rendered contradictory figures of 339 on 13/12/2017, leaving a difference of 497 and 504 on 9/3/2018, with a difference of 332.”
In addition, the panel claimed that Magu relocated certain commission investigators and abandoned multi-million dollar fraud probes involving prominent people.
He was charged with defying both presidential instructions and court orders.
“Between 2016 and 2019, fourteen (14) procurement fraud cases involving N117,972,209,035 and $309,151,419 were abandoned under Mr Ibrahim Magu’s watch,” the judicial commission said.
It added, “The commission observed from its findings that prosecutorial decisions by Ibrahim Magu on case files were based on his personal whims, as against the law and facts. The commission also notes the prevalence of widespread corruption, abuse of power and pervasive impunity in the running of the EFCC.”
The panel also claimed that the commission kept inadequate records of forfeited property.
The panel said that eight plazas were seized by the EFCC while Magu was in charge, yet the commission made no mention of the plazas’ forfeiture.
Additionally, the panel was unable to locate three jets named in interim forfeiture, and only eight of the 21 hotels listed in the interim forfeiture order were really located. Only eight of the 42 fuel stations that were allegedly forfeited pursuant to an interim ruling could be confirmed.
The commission’s seized vessels were allegedly ignored, and they sank into the water carrying a sizable amount of petroleum products.
It further revealed, “In 2016, Magu halted the process of disposing of two finally forfeited vessels, MT Good Success with 1,459 metric tons of PMS; and MT Askaris with 3,423,097 metric tons of crude…the cargoes eventually sank…Magu also asked the navy to release two vessels conveying illegally refined AGO to their owners,” the panel said.
“Thirteen water vehicles (vessels) handed over to the EFCC by the Nigerian Navy, out of a total number of 154 vessels, have submerged (sunk) with tons of contents.
“The submissions made by the EFCC before the commission shows that, from inception to date, the total number of non-cash assets recovered under final forfeiture was 3133. The analysis of the recoveries shows that some of the assets were disposed of, forfeited to a third party or negligently lost. The commission conducted physical verification of recovered assets across the country from 1st-27th October 2020. The outcome of the exercise was revealing as some of the forfeited assets have been lost, deteriorated, physically possessed by the suspects, or could not be traced and in some instances remain in occupation years after their final forfeiture.
“The EFCC reported disposal of 275 real estates, but the judicial commission only confirmed 76 disposals.”
When contacted by our correspondent, the EFCC’s spokesperson, Wilson Uwujaren, stated that the commission was yet to receive the report of the Salami-led panel.
He said, “We have not seen such a report. However, the panel was set up by the federal government and not the EFCC. Hence we know nothing about it at the moment.”
