BY SIMON REEF MUSA, ABUJA – The uncertainties over the fate of suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has taken a turn for the worse as investigators last week allegedly discovered a whopping sum of N200 million stashed in his Abuja home.
This discovery, according to a reliable source knowledgeable on the matter, made President Muhammadu Buhari to eventually approve his suspension and appoint a new acting boss for the EFCC on an acting capacity.
According to the source, “Investigators have stumbled on N200 million hidden in the home of the embattled EFCC boss. It was this discovery that made President Muhammadu Buhari to approve his suspension and appoint a new boss for the EFCC.
“This staggering discovery has led to so many other issues coming up, and it is obvious that it may take a long time to sort things out as investigators are battling to unravel the source of the fund.
“Beyond the alarming discrepancy in the amount of total loot recovered and interest accruing to lodged funds by the commission, the monstrous money found at his home is creating anxious moments for the embattled boss of the anti-graft agency.”
When asked if the money are in foreign currencies, the source declined disclosure, but quickly added, “Nigerians are yet to be told of the humongous fraud that took place under the headship of Magu. But very soon, Nigerians will know the entire truth and come to the knowledge that Mr Magu is not undergoing persecution but prosecution that is hinged on verifiable evidence of financial fraud.
“What Nigerians have heard so far is a tip of the iceberg. After the completion of investigation and thorough audit of the commission’s accounts in the last four years, then, Nigerians will come to fully understand what actually took place under the headship of Magu at the nation’s famous anti-graft agency.”
The fate of the Borno-born police officer, who is known to have had series of running battles with the Senate over his confirmation as substantive chairman of the anti-graft body, took a turn for the worse recently after news of his arrest by the nation’s secret police blew open over his invitation to appear before the presidential panel.
Though the Department of State Service (DSS) had initially debunked news of the arrest, the Presidency later announced the suspension of Mr. Magu, pending the outcome of the preliminary report of a panel that is headed by Justice Ayo Salami.
The Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, had last month written to President Buhari, accusing the anti-graft czar of sundry offences, including the misappropriation of recovered looted funds.
The pro-Magu camp, comprising non-government organisations (NGOs), among others, have described the on-going trial of the police officer as a witch-hunt aimed at crippling efforts of government in fighting corruption.
However, a preliminary report by the panel released to Buhari at the weekend revealed that the suspended EFCC boss has a case to answer.
Forefront is a Nigerian media platform that is committed to providing cutting edge news, analyses and investigative stories with the sole aim of engaging issues that are of interest to the development of our nation.