Presidency Queries Magu, Orders Him To Account For $9.5bn He Claims To Have Recovered

The acting Chair of the Economic and Financial Crimes Commission, EFCC, Ibrahim Mustafa Magu, has been queried by the presidency to account for the recoveries made by the commission under his watch.

Mr Magu, whose nomination as chair of the anti-graft agency was rejected by the Senate, due to a report by the Department of State Security Service (DSS), recently granted an interview with the Hausa service of BBC, where he claimed to have recovered $9.5 billion. But, staff at the agency say the Borno born Deputy Commissioner of Police, was economical about the truth of the amount recovered.

An EFCC source said the rejected boss had “over inflated the amount,”  so as to continue to give the impression that he “was working very hard.”

Recall that Magu had told the Senate during his confirmation hearing which eventually led too his rejection by the upper legislative chamber that he does not have the figure of the recoveries made by the commission, but the same man was able to give BBC Hausa a figure of $9.5bn several days after.

A source said “some of the $9.5bn which Magu claimed to have recovered are money under interim forfeiture, while some are under final forfeiture whereas, others are still subjects of litigation in court and so cannot be said to be recoveries.

However, Magu lumped them all together in order to create an impression that huge recoveries have been made.

“If Nigeria has recovered $9.5bn as claimed by Magu, then why would Nigeria be seeking loan from international development organisations to fund its infrastructure drive when such money can be channeled into this area,” a source asked.

“This was how he deceived Nigerians, saying he recovered the sum of N49 million at Kaduna Airport, just a day before his appearance at NASS Senate for confirmation screening.”

Shocked by Magu’s claim to have recovered $9.5bn, sources said a senior Management Staff at the EFCC was invited by the Presidency to clear the information given by Mr Magu, during his interview with BBC Hausa.

The top EFCC Management staff, reportedly explained to the Presidency, in a satisfactory manner, the actual position of Assets Recovery by the Commission.

Reliable sources present said “the senior EFCC official furnished the Presidency with accurate and articulate briefing on the recoveries made which is far from the $9,5bn Magu claimed to have recovered.

A source said Magu has now been ordered by the presidency to give details of the $9.5bn he claimed to have recovered while granting the BBC interview.

It was gathered that officials of the commission have been spending countless hours in the office trying to put figures together to enable Magu respond to the query.