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Magu Reappears Before Panel To Explain Recovered Assets

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The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu has expressed sadness over the slow pace of action from the government of United Kingdom, (UK) on the corruption case, involving former Petroleum minister, Diezani Alison-Madueke.

Zainab Sanni

The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, along with his lawyer, Wahab Shittu, on Thursday appeared before the Justice Ayo Salami-led panel to explain how recovered assets were disposed of and how monies seized from looters were kept.

According to the Punch, Magu presented a 34-page letter with 100 annexure to the Presidential panel investigating him. It was learnt that Magu appeared before the panel at 1pm and was still there as of 6pm.
The Punch noted that EFCC said, “Magu arrived at the Presidential Villa along with his lawyer and some aides. However, only Magu and his lawyer were allowed inside the main hall. They have been there for the last five hours.

READ ALSO: I’ll Be Reinstated As Acting Chairman- Magu

“Magu presented a 34-page letter which was spiral bound with 100 annexure including pictures. We are hopeful that he will be able to convince the panel that all the allegations levelled against him are trumped up.”

The suspended EFCC boss who was first arrested on July 6, 2020 is alleged to have looted N550bn recovered funds and bought a house in Dubai at the cost of about N570m.

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