The following warnings occurred: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
|
BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge - Printable Version +- Forums (http://contripeople.com) +-- Forum: General Discussion (http://contripeople.com/forumdisplay.php?fid=5) +--- Forum: General Discussion (http://contripeople.com/forumdisplay.php?fid=60) +--- Thread: BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge (/showthread.php?tid=36043) |
BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge - Edoman - 07-11-2020 BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge July 11, 2020 The suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, may be facing fresh charges 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 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 was N37,533,764,195.66, representing a shortfall of N8,505,118,314.21. “These inconsistencies cast 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 lodgements 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, casts serious doubt on the credibility of the figures and means that a substantial amount of money has not been accurately accounted for. “Failure to report on the interest on actual lodgements clearly establishes that the 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. RE: BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge - Edoman - 07-12-2020 Interest on recovered N550bn was re-looted under Magu- Presidential Investigation panel says The Presidential Panel investigating the activities of the suspended Chairman of the Economic and Financial Crimes Commission EFCC, Ibrahim Magu, has alleged that the commission under Magu re-looted some of the recovered loot. The panel probed the federal government assets recovered by the EFCC from May 2015 to May 2020. According to the News Agency of Nigeria NAN, the Presidential Panel in its final report, said investigations showed that the interest on the N550 billion recovered by the agency under Magu “has been re-looted”. The panel in its report also said there is a difference of N39 billion between EFCC’s deposits in the bank and what the agency said it recovered. The report in part reads Quote:“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 lodgment were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21. NAN reports that the panel also revealed how the Nigeria Financial Intelligence Unit (NFIU) investigation “exposed acts of corruption and money laundering” against some EFCC officials, including Magu. Quote:“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. An investigation into Magu's activities commenced on Monday, July 6. This was after the Minister of Justice and Attorney General of the Federation, Abubakar Malami wrote a letter to the President asking for Magu's dismissal. Malami in the letter accused Magu of re-looting recovered funds, insubordination among other offenses. RE: BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge - Edoman - 07-13-2020 Quote:Magu Failed To Account For 332 Recovered Property https://www.dailytrust.com.ng/magu-failed-to-account-for-332-recovered-property.html RE: BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge - Edoman - 07-13-2020 Diezani Alison-Madueke: Magu Failed To Cooperate With UK How Magu failed to cooperate with UK to enable them charge Diezani Alison-Madueke to court Quote:By Don Silas https://dailypost.ng/2020/07/12/how-magu-failed-to-cooperate-with-uk-to-enable-them-charge-diezani-alison-madueke-to-court/ RE: BREAKING: Ibrahim Magu: Fresh facts on re-looting of recovered funds emerge - Edoman - 07-13-2020 [b]Magu: Prophet Omale Sues News Agency Of Nigeria For N1 Billion [/b] Demands Apology and Retraction. Prophet Omale, the General Overseer of Divine Hand of God Prophetic Ministries International, Abuja has sued the News Agency Of Nigeria, NAN, over a report he described malicious, derogatory and libelous with the caption – “HOW MAGU USED ‘PASTOR’ TO LAUNDER RE-LOOTED FUNDS ABROAD - REPORT”. In a letter written by his lawyer, Chief Gordy Uche (SAN), said the report "reeks of calumny, denigration, actuated by malice, and calculated to ridicule and disparage him, and clearly a hatchet job ingeniously crafted to cast a stain on his reputation; expose him to public hatred and contempt and injure him in his religious calling, as the General Overseer of Divine Hand of God Prophetic Ministries International." Our client’s attention has been drawn to the extremely malicious, derogatory and libelous publication with the caption – “HOW MAGU USED ‘PASTOR’ TO LAUNDER RE-LOOTED FUNDS ABROAD - REPORT” by your Reporter, one Isamaila Chafe, posted on your website - www.nannews.ng on the 11th day of July 2020. "We, however, wish to make the following clarifications to put the public records straight: 1. That our client is the General Overseer of an Inter-denominational/Multi-religious Prayer Ministry, which Mr. Ibrahim Magu attends. 2. That our client, only visited Mr. Ibrahim Magu in a Hospital in Dubai, United Arab Emirate, sometime in March 2020. 3. That our client never laundered any funds whatsoever for Mr. Ibrahim Magu, nor for anybody whatsoever. 4. That our client does not own any foreign bank account anywhere in the world. 5. That there are no funds whatsoever traceable from Mr. Ibrahim Magu to our client’s Bank accounts whatsoever neither has our client received any funds whatsoever from Mr. Ibrahim Magu. Our client has never received any funds whatsoever from anybody on behalf of Mr. Ibrahim Magu. 6. That our client does not own any property in Dubai. His name was never used to purchase any property whatsoever in Dubai, United Arab Emirate or anywhere else in any part of the world, neither has he purchased any property or properties for Mr. Ibrahim Magu in any part of the world whatsoever. "We wish to state that by reason of the said libelous publication which was read by millions of persons all over the world, our client has been severely injured in his reputation, character and calling. Our client has thereby been brought into ridicule, public scandal, hatred, denigration, odium and contempt, and lowered in the estimation of right-thinking members of the society. "We therefore, demand the immediate retraction of the libelous publication by way of an unequivocal APOLOGY to our client prominently published in at least three (3) National Newspapers not later than 7 (Seven) days from the date of your receipt of this letter and that you restrain from further defamation of our client forthwith otherwise, a libel suit against NAN will commence you, your Organization, claiming the sum of N1, 000,0000,000.00 (One Billion Naira) as exemplary, aggravated, general damages for defamation, and for injunction if you fail to comply. "Further take notice that this letter constitutes our formal notice of intention to sue. https://www.google.com/amp/s/www.vanguardngr.com/2020/07/magu-prophet-omale-sues-news-agency-of-nigeria-for-n1billion/amp/ |