Magu Allegedly Stole N39 Billion From EFCC Funds, Gave N4 Billion To Vice President Yemi Osinbajo

Embattled Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu is alleged to have stolen or misappropriated N39 billion in recovered funds while he presided over affairs at the anti-corruption agency.

A political analyst, Jackson Ude, who disclosed this on his Twitter page @jacksonpbf, also alleged that Magu confessed to transfering N4bn from the missing funds to the office of the vice President, Yemi Osinbajo.

Ude alleged in his report that Magu released the N4bn to Osinbajo, the day President Muhammadu Buhari left for his last medical trip in the United Kingdom.

Asides from the missing funds, Magu also allegedly confessed to a host of other infractions as acting chairman of the EFCC which include;

“Selling recovered properties, vehicles, houses. Specifically 167 recovered trucks missing from its Portharcourt office, could not account for 27 recovered properties sold this year. Admitted flagrantly defying Act setting the EFCC up which stipulates he reports to the supervisory ministry.

“Ignoring requests of assistance to investigate and recover about 67b by sister agencies including the office of the IG and the presidency. Confessed Movement of important records/files from EFCC HQT between 12 midnight and 4 am Tuesday by his boys.

“Could not account for missing 37b as indicated in the submitted report of the presidential asset recovery panel headed by the chairman of the FIRS.”

Magu was said to have been presented with tons of evidence relating to the allegations against him before he started confessing, begging for safe landing.

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Although there are reports that Magu has been suspended and replaced with the FCT Commissioner of Police, Bala Ciroma, as the new acting Chairman of the EFCC, but the Presidency has not issued an official statement regarding the unfolding development.

KanyiDaily had reported that Magu was arrested by security operatives on Monday, July 6, 2029, and whisked away to the Presidential Villa to face an investigate panel set up by President Muhammadu Buhari.

The embattled former acting chairman is being interrogated by Ayo Salami-led presidential panel over allegations of gross misconduct against him.

Magu was arrested following some allegations levelled against him by the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), in a memo to the President.

The memo raised by Malami has some damning allegations against Magu, who was alleged, among other allegations, of insubordination to the AGF, ‘relooting of recovered loots’ and Sale of seized assets to cronies, associates and friends.

The EFCC Boss was also accused of corruption and money laundering based on allegations that he owns four questionable properties and that he was allegedly transferring funds abroad through a third party.

On Tuesday, July 7,2020, President Buhari suspended Magu as the EFCC acting chairman, pending the conclusion of the panel’s investigation.