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Magu acquired N573m property in Dubai through unknown pastor, recovered N551b unaccounted for – Report

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A REPORT by the Presidential Investigation Committee probing corruption allegations against Ibrahim Magu, the suspended acting chairman of the Economic Financial Crimes Commission (EFCC), has 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.

The Committee was headed by Abdullahi Ibrahim, a former Minister of Justice.

According to the report, Magu was also accused  of failing to properly account for a recovered N551 billion  by the Commission under his watch.

The report revealed that Magu through a pastor named Omale has been laundering public funds to foreign countries.

It stated that Omale’s name was revealed through the investigation on activities of the EFCC by Nigerian Financial Intelligence Unit (NFIU).

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The report added that the unknown pastor had bought a property worth N573 million in Dubai on behalf of Magu.

“As an unknown pastor, the NFIU’s report showed the huge movement of funds ranging from N573, 228,040.41,” the report read.

The panel report further stated that between 2015 and 2020, over N550 billion has been re-looted by the Commission.

“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,” the report said.

“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.”

Other allegations levied on Magu in the report include failing to cooperate with foreign authorities over probe on former Minister of Petroleum, Diezani Allison-Madueke, and circulation of disproportionate figures on recovered loot in the public space.

Author profile

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

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