{"id":5889,"date":"2020-07-22T23:06:58","date_gmt":"2020-07-22T23:06:58","guid":{"rendered":"https:\/\/newsreservoir.com\/?p=5889"},"modified":"2020-07-22T23:06:58","modified_gmt":"2020-07-22T23:06:58","slug":"probe-magu-lets-the-cat-out-of-the-bag-makes-shocking-revelations-on-whereabouts-of-recovered-assets-indicts-presidential-villa-others","status":"publish","type":"post","link":"https:\/\/newsreservoir.com\/?p=5889","title":{"rendered":"Probe: Magu\u00a0 Lets The Cat Out Of The Bag,\u00a0 Makes Shocking Revelations On Whereabouts Of Recovered Assets.  .. Indicts Presidential villa, Others"},"content":{"rendered":"<div dir=\"auto\">\n<p>Probe: Magu\u00a0 Lets The Cat Out Of The Bag,\u00a0 Makes Shocking Revelations On Whereabouts Of Recovered Assets.<\/p>\n<p>.. Indicts Presidential villa, Others<\/p>\n<ul>\n<li>The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has finally let the cat out of the bag on some allegations leveled against him by the Justice Ayo Salami-led panel probing the whereabouts of some recovered asset by the agency.<\/li>\n<li><\/li>\n<li>According to reports, Magu while defending his management of the recovered assets said some vehicles and houses recovered were auctioned to the Presidential Villa, the Ministry of Humanitarian Affairs, Disaster Management and Social Development as well as\u00a0 the Federal Inland<\/li>\n<li>Revenue Services and other agencies.<\/li>\n<\/ul>\n<\/div>\n<div dir=\"auto\">He further stated that some of these agencies had not paid for the vehicles but there was an arrangement that the money would be deducted from their financial allocation.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Magu, in a leaked letter addressed to the\u00a0 Justice Ayo Salami-led panel titled, \u2018Re: Alleged Case of Conspiracy, Enrichment, Abuse of Public Office and Other Infractions,\u2019 explained how some of the\u00a0 recovered vehicles were auctioned.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The letter was in response to an earlier report by the Presidential Committee on Audit of Recovered Assets in which Magu was accused of being unable to account for the interest accrued to N550bn recovered funds as well as recovered vehicles and houses.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In his response to the allegations of being unable to account for recovered vehicles, Magu stated, \u201cOn allocation of vehicles to some government agencies through special auction with presidential approval.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The beneficiary agencies are: the Ministry of Humanitarian Affairs and Disaster Management of which the valued price is to be debited from their allocation; State House, National Commission for Refugees and Displaced Persons; Federal Inland Revenue Service\u00a0 and National Directorate of Employment.\u201d<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The suspended EFCC boss said about 450 other vehicles, which had been recovered, had yet to be sold despite receiving presidential approval to do so.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cThe commission presently has presidential approval to dispose over 450 forfeited vehicles located in Lagos and Abuja. The vehicles have been valued by the National Automotive Council Valuers and the Federal Ministry of Works and Housing. But no sale\/disposal has been conducted yet,\u201d Magu stated.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He said some of the houses permanently forfeited to the Federal Government by looters had also been handed over to some government agencies like the Voice of Nigeria, North -East Development Commission and the Pension Transitional Arrangement Directorate.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The suspended EFCC boss explained that some other properties, which had been forfeited pending the outcome of court cases, were being rented by the Federal Ministry of Finance, the Nigerian Army and other agencies of government.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The letter further read, \u201cReal properties finally forfeited to the Federal Government of Nigeria and allocated to some agencies for official use in line with the Presidential approval are: Voice of Nigeria,\u00a0 National Directorate of Employment, Ministry of Humanitarian Affairs and Disaster Management, North East Development Commission and Pension Transitional Arrangement Directorate.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cProperties under interim forfeiture order are rented by the following government agencies: Nigerian Army, Federal Ministry of Finance, Fiscal Responsibility Commission, Nigerians in Diaspora Commission and Federal Airports Authority of Nigeria.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cOther agencies of government that have approached the commission to rent properties under interim forfeiture order include: National Human Rights Commission and National Council for Arts and culture.\u201d<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Magu said the commission also temporarily handed over property in Lagos to the Lagos State Government for use as isolation centres for COVID-19 patients.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The suspended EFCC boss attached photographs of some of the recovered assets to the letter he addressed to the panel.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">However, it was learnt that an attempt by Magu\u2019s lawyer, Wahab Shittu, to submit the letter to the panel on Monday was rebuffed.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The panel was said to have insisted that there was no basis for the letter and informed Shittu that Magu would be summoned if there was a need for clarification.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cAn attempt to submit the letter to the secretary of the panel on Monday failed. Magu\u2019s team was informed that the panel does not entertain letters but it\u00a0 is purely an investigative one. If there is a need for clarification, Magu would be invited,\u201d a source said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Source:\u00a0<a href=\"http:\/\/thenewsguru.com\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=http:\/\/thenewsguru.com&amp;source=gmail&amp;ust=1595543122325000&amp;usg=AFQjCNENqlKqAfbAaDMTfWYGl8ltsq0hYA\">thenewsguru.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Probe: Magu\u00a0 Lets The Cat Out Of The Bag,\u00a0 Makes Shocking Revelations On Whereabouts Of Recovered Assets. .. Indicts Presidential villa, Others The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has finally let the cat out of the bag on some allegations leveled against him by the Justice Ayo [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":4475,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[],"class_list":["post-5889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Probe: Magu\u00a0 Lets The Cat Out Of The Bag,\u00a0 Makes Shocking Revelations On Whereabouts Of Recovered Assets. .. 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