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Magu failed to account for interest on N550bn recovered loot

ADEOLA AJAYI, EKITI

The presidential panel set for the the suspended acting EFCC chairman Ibrahim Magu, while he failed to account for interest on N550bn recovered loot.

However, according to the report from The chairman of the previous committee was Alhaji Abdullahi Ibrahim and the members were DIG Anthony Ogbizi; a member from Federal Ministry of Justice; Mualledi Dogondaji from the EFCC; Hassan Abdullahi from the DSS; an unnamed member from the Office of the Accountant General of the Federation; Chinedu Ifediora from the NFIU, while Mr Kazeem Attitebi served as the secretary that was titled Final Report of the Presidential Investigation Committee on the EFCC Federal Government Recovered Assets and Finances from May 2015 to May 2020’ was obtained by the Federal Government-owned News Agency of Nigeria.

The report read in part, “Failure to report on the interest on actual lodgements clearly establishes that the interest element of over N550bn 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.”

“It must be pointed out that the discrepancy of more than N31bn does not include interest accrued in this account since it was opened.

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