{"id":41359,"date":"2020-07-09T20:25:31","date_gmt":"2020-07-09T19:25:31","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=41359"},"modified":"2020-07-09T20:26:05","modified_gmt":"2020-07-09T19:26:05","slug":"magu-a-can-of-worms-and-matters-arising","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/magu-a-can-of-worms-and-matters-arising\/","title":{"rendered":"Magu: A Can Of Worms And Matters Arising"},"content":{"rendered":"

A Former Presidential Spokesman, Olusegun Adeniyi has shed light on a series of events that reportedly led to the arrest and investigation of Former acting chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu.<\/p>\n

Adeniyi, in a recent article \u201cMagu and the Abuja Power Game\u201d, disclosed that Borno state born anti-graft boss as on \u2018who took on far too many battles while leaving his own flanks wide open\u2019.<\/p>\n

He also revealed that Magu raided the Minna residence of Former Head of state, Abdulsalami Abubakar and recently blocked a cash payment for an aircraft made by a former defence minister and Oil tycoon, Theophilus Danjuma. He stated that Magu did all this without the President\u2019s knowledge.<\/p>\n

\u201cI don\u2019t know if the detained acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, grew up (like some of us) reading the novels of English writer Ren\u00e9 Brabazon Raymond, who wrote under the pseudonym, James Hadley Chase. Even so, I doubt he came across \u2018Goldfish Have No Hiding Place\u2019. As a student of power politics, I am not surprised that Magu\u2014who took on far too many battles while leaving his own flanks wide open\u2014is now caught in a dangerous web from which he may never recover.\u201d<\/p>\n

\u201cFormer Defence Minister, Lt General Theophilus Yakubu Danjuma (Rtd) was recently at the villa to see President Muhammadu Buhari. It was a visit borne out of rage. A billionaire oil tycoon, Danjuma had paid for the purchase of an aircraft. His cheque bounced! The order to withhold payment, he was told by his banker, came from Magu! From what I gathered, it took some time before the president could convince Danjuma that he knew nothing about what was clearly power-mongering by a reckless public official.\u201d<\/p>\n

\u201cA few weeks before that incident, the Minna residence of former Head of State, General Abdulsalami Abubakar was raided by EFCC operatives who \u201cturned the house upside down\u201d. The president also got to know only after the deed had been done.\u201d<\/p>\n

Adeniyi wrote further that Magu did not follow due process in recovering stolen assets and loot, also revealing how President Buhari ordered a discreet audit on the agency in 2017.<\/p>\n

\u201cIn the past five years, Magu has at different times made claims about the hundreds of billions of Naira recovered from \u2018treasury looters\u2019. But subsequent auctions for recovered assets did not follow due process, resulting in choice properties being handed out to suspected cronies. Since Abuja is a city where residents know the dirty secrets of people in power (including who is sleeping with whose spouse), the president was being inundated with petitions that Magu is not above board in his dealings.\u201d<\/p>

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\u201cApparently determined to get to the root of these allegations, the president on 22 November 2017 inaugurated a three-member committee to audit all assets recovered by agencies of the federal government from 29th May 2015. Headed by Mr Olufemi Lijadu, who later became the Securities and Exchange Commission (SEC) Chairman, the two other members are Mr. Mohammed Nami, the current Federal Inland Revenue Service (FIRS) chairman and Mrs. Gloria Bibigha, a respected accountant in the office of the Auditor General of the Federation who is regarded as a specialist in forensic auditing. \u201cIt has become obvious that fundamental gaps still exist in ensuring that the recovered assets are accounted for, and managed in an accurate, transparent and logical manner,\u201d the President told the committee.\u201d<\/p>\n

\u201cIt is noteworthy that exactly six days after the committee began its session, the then Senate President, Dr Bukola Saraki publicly accused anti-graft agencies of looting the recovered proceeds. Saraki spoke at the opening session of a \u201cStrategic Retreat on Tracking the Progress of Anti-Corruption Bills\u201d, on why the National Assembly had become \u201cstrident about the opacity shrouding the management of recovered funds, which in many cases get re-looted by the agencies that investigated and recovered them\u201d. An ad hoc committee of the Senate, according to Saraki, had \u201cdiscovered that many properties recovered from a fugitive from the law have not been accounted for by the investigating agency\u201d.<\/p>\n

\u201cMeanwhile, the Lijadu committee was working quietly in the background, obtaining information from government agencies and seeking clarification for inconsistencies. Although they had been given four months to complete their assignment, the trio of Lijadu, Nami and Bibigha ended up spending ten months, rummaging through thousands of pages of documents in dozens of files from the various agencies. But even before they submitted their report, the then Finance Minister, Mrs. Kemi Adeosun, had already noticed discrepancies from the figures that were emerging from their work. She sent Magu a memo seeking clarification on the recoveries \u201cbased on the information available to the Office of Accountant-General of the Federation.\u201d According to Adeosun, the attention of her ministry had been drawn to \u201crecovery figures in media reports by the EFCC that do not reconcile with the records of the ministry\u201d, asking Magu to \u201cclarify where these cash recoveries have been deposited and provide accompanying evidence.\u201d<\/p>\n

\u201cThere is no record to show that Magu responded to Adeosun\u2019s memo. But on 11th September 2018, the president formally received the report of the Lijadu committee that raised several unanswered questions about the recovered fixed and movable assets. The Attorney General of the Federation and Justice Minister, Abubakar Malami, SAN, later addressed the media on salient issues in the report. Although he gave no breakdown, Malami said: \u201cIn summary, the recovered funds by the three-man committee is N769 billion cash within the period under review\u201d. What Malami did not disclose that day was that there were discrepancies in the EFCC figures and the disposal of some properties were done without transparency.\u201d<\/p>\n

\u201cFrom that moment, Magu\u2019s fate was sealed. To compound his problem, the president had also received reports from a number of foreign agencies on the \u201clack of professionalism\u201d by Magu who was said to be in the habit of leaking to the media information that compromises investigations. At home, critical agencies including the Directorate of State Security (DSS) and National Intelligence Agency (NIA) view Magu as a danger to the system because, as a top presidency official told me, \u201che doesn\u2019t mind bringing down institutions to get at individuals, sometimes just for media adulation\u201d. But in the mutual game of alliances and counter-alliances (often laced with mutual blackmail) used by members of this administration to checkmate one another, Magu remained in office. But despite concerted efforts by members of his own camp to have his name sent to the Senate for confirmation, the president refused to budge.\u201d<\/p>\n

\u201cMeanwhile, the AGF to whose office Magu should ordinarily report (but doesn\u2019t, out of sheer arrogance of power) bided his time before writing a damning memo to the president regarding the report on recovered assets. At the same time, Magu was basking in a false sense of security because he had just recently received approval from the president to auction more than 400 expensive cars forfeited by internet fraudsters. So secure in the fantasy that his name would soon be sent to the Senate for confirmation was Magu that he had begun planning how to dispose through public auction exotic vehicles including Ferraris, Range Rovers and Mercedes. That was befotvre he was upended on Monday afternoon.\u201d he wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Former Presidential Spokesman, Olusegun Adeniyi has shed light on a series of events that reportedly led to the arrest and investigation of Former acting chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu.<\/p>\n","protected":false},"author":6,"featured_media":16219,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[6803],"coauthors":[2391],"class_list":["post-41359","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-crime","tag-ibrahim-magu"],"yoast_head":"\nMagu: A Can Of Worms And Matters Arising - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/magu-a-can-of-worms-and-matters-arising\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magu: A Can Of Worms And Matters Arising - 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