At Last, Magu Replies Critics, Announces ‘Monetary Recoveries’

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The Acting Chairman of ’s Economic and Financial Crimes Commission,EFCC,  Ibrahim has moved to shut up his  critics as he announced that between January and August 30 this year, huge ‘monetary discoveries’ have been made.

spoke in Abuja during an interaction with media executives Wednesday. He said “Over a month ago, the Commission recovered over N329billion from a group of oil marketers for the Nigerian National Petroleum Corporation. These are major recoveries from a sector of the economy. But to give a holistic picture of the aggressive drive to recover stolen wealth, I have the pleasure to report that the Commission between January and August 30, 2017 recorded the following monetary recoveries:

“Four Hundred and Nine Billion, Two Hundred and Seventy Million, Seven Hundred and Six Thousand, Six Hundred and  Eighty Six Naira, Seventy Five Kobo (N409, 270, 706,686.75); Sixty Nine Million, Five Hundred and One Thousand, One Hundred and Fifty Six Dollars, Sixty Seven Cents ($69, 501,156.67);  Two Hundred and Thirty One Thousand, One Hundred and Eighteen Pounds, Sixty Nine Shillings (Pounds 231,118.69; Six Hundred and Ten Thousand, Eight Hundred and Sixteen Thousand, Twenty Euros (Euro 610,816.20); Four Hundred and Forty Three Thousand, Four Hundred Dirham (Dirham 443,400.00 and  (Seventy Thousand, Five Hundred Saudi Riyal (SR70, 500.00)

He recalled that “Two days ago, we got the court to forfeit to the Nigerian Government a sum of N7.6billion which was hidden in a Nigerian bank by former petroleum resources minister, Diezani Alison-Madueke. Two weeks earlier, another court issued a temporary forfeiture order to seize properties worth Twenty One Million, Three Hundred and Ninety Two Thousand, Two Hundred and Twenty Four Thousand Dollars ($21,392,224) belonging to the same former minister. Those properties are awaiting final forfeiture.”

These disclosures were  made apparently as  a reply to those who have asked Magu to disclose how much stolen funds  EFCC has recovered.

He added that “In the area of prosecution of cases in court, we are also making progress despite the antics of some persons accused of grand corruption to delay trial. Between January and August this year, EFCC recorded 137 convictions. The potentials for improvement are good as more cases are brought to conclusion in the remaining four months of the year.

“Remarkable as this feat is, we are not resting on our oars. We believe there is still a lot to be done which is the reason why we are actively seeking the support of all stakeholders, including the media.

Magu said he is not fighting anybody. “Personally, I am not after anybody and have no issues with anybody. Those who think they have issues with me will soon discover that I mean no harm. What drives me is the passion to do what is right by ensuring that we fight corruption to a standstill in this country.”


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