25.1 C

EFCC Probe: Bank says N573m was wrongly posted to Magu’s pastor account




ADAM Nuru, the Chief Executive Officer of First  City Monument Bank (FCMB), says the alleged N573 million found in the account of  Emmanuel Omale, the founder of Divine Hand of God Prophetic Ministries was wrongly posted.

Nuru said this on Thursday while giving evidence at the Presidential Investigative Panel probing Ibrahim Magu, the suspended acting chairman of Economic Financial Crimes Commission (EFCC).

“After that report, we conducted an investigation and discovered that the lodgement which we reported to NFIU was an error,” Nuru said.

He narrated that the error occurred during the migration of their financial application from Pinnacle-7 to Pinnacle-10.

“The error was as a result of the fact that we were using a bank application called Pinnacle-7. However, we migrated from that application to a newer version called Pinnacle-10,” he explained.

“Usually, when the bank intends to migrate from one application to another, we utilise weekends to carry out the exercise. The migration involves moving all the balances of customers from the previous application to the new application. The account of the Divine Hand Ministries was moved during that migration.

“In that branch, we have 983 accounts (Banex). The credit balance in all the 983 accounts domiciled came to the aforesaid amount. It was that balance of N573 million that was wrongly posted as an inflow into Divine Hand Ministries as reported to NFIU,” Nuru added.

- Advertisement -

Magu is under probe for alleged embezzlement and mismanagement of recovered assets under his watch as the acting EFCC chairman.

In his defence, Magu said the allegations levied against him by the Ayo Salami led Presidential Committee and Abubakar Malami, the Attorney General of the Federation and Minister of Justice, were false, calling them attempts to bring set back to the feats achieved by the EFCC during his time as the acting Chairman.

He challenged Malami and the Presidential Committee to provide evidence that he mismanaged and looted fund belonging to the commission.

I unequivocally deny this allegation as same is untrue and merely calculated to tarnish my name, the Commission, and the giant strides this administration has achieved in the fight against corruption and recovery of proceeds of unlawful activities,” Magu said.

A report by the Presidential Investigation Committee probing corruption allegations him had earlier indicted him of acquiring a property worth N573 million in Dubai, United Arab Emirates through an unknown pastor.

The Committee which produced the report, according to The PUNCH was different from the one headed by Justice Ayo Salami, former President of Court of Appeal which is currently investigating Magu.

It was titled “Final Report of the Presidential Investigation Committee on the EFCC Federal Government Recovered Assets and Finances from May 2015 to May 2020,” published  by the Federal Government-owned News Agency of Nigeria (NAN), The PUNCH reported.

Author profile
- Advertisement -

Lukman Abolade is an Investigative reporter with The ICIR. Reach out to him via labolade@icirnigeria.org, on twitter @AboladeLAA and FB @Correction94

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.


If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.



Show organiser reveals why Kizz Daniel refused to perform in Tanzania after $60,000 payment

ORGANISER of the Summer Amplified Concert which flopped in Dar es Salaam, Tanzania, Stephen...

Air Peace suspends Johannesburg flights from August 22

AIR PEACE has suspended flight operations from Nigeria to Johannesburg, effective August 22, 2022. In...

NESG asks FG to cut leakages, reduce cost of governance

THE board of directors of the Nigerian Economic Summit Group (NESG) has directed the...

World Congress of Science and Factual Producers offers scholarships

THE World Congress of Science and Factual Producers (WCSFP) is inviting applications for its...

EFCC arraigns fake Air Force officer over job scam

THE Economic and Financial Crimes Commission (EFCC) has arraigned a fake Air Force officer,...

Most Read


Subscribe to our newsletter