Magu Allegedly Stole N39bn, Gave N4bn to Vice President 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.

Although journalists are barred from the sitting of the investigative panel, reports filtering from the investigation also alleged that Magu confessed to transfering N4bn from the missing funds to the office of the vice President, Yemi Osinbajo.

This news is coming on the background of the arrest and detention of the acting Chairman on the orders of a presidential investigative panel on Monday.

According to a political analyst, Jackson Ude, @jacksonpbf, Magu released N4bn to Vice President Osinbajo, the day President Buhari left for his last medical trip in the UK.

See Also: Buhari’s CoS meets committee investigating Magu

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.

Although there are reports that he has been suspended as acting Chairman of the EFCC, the Presidency has not issued an official statement regarding the unfolding development.

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  1. Adeniyi Adeneye says

    You guys are so stupid to publish this. So you scoop your news from unreliable sources like personal individual twitter handle. What a shame.

  2. Michael Olarewaju says

    Roadside journalism, unethical as it is unprofessional. I have never read a dumber article than this in my life. Very disgraceful to the noble profession of journalism….

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