Two ex-Governors Jailed, N107.9Billion Recovered and You’ve Seen Nothing Yet – Magu

Segun Atanda/

 

Acting Chairman of Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, today bemoaned the level of support for the ongoing war against corruption, as he gave an account of his stewardship at an interactive session in Lagos.

Magu, who told media practitioners and representatives of the Movement against Corruption at the parley that EFCC had sent two governors to jail and recovered money in various currencies running into over N107.9Billion this year, said, “You have not seen anything yet. We have not touched 10 per cent of the corruption going on, and we don’t have the capacity to deal with it. EFCC does not have the capacity to do all the trial. Other law enforcement agencies must equally join to fight against corruption.”

He gave the breakdown of the figures as N106, 516, 222,383.7, $1, 635, 925. 81 (N592, 303, 356), £629,193. 65 (N763, 076, 428.4) and €25,575 (N10, 849, 110.4).

According to Magu, some individuals being investigated over alleged involvement in oil deals running into $6billion are now trying to sell their properties abroad.

He revealed that EFCC has signed memoranda of understanding with the United Arab Emirates and Mauritius in its efforts to recover looted assets.

He expressed the hope that EFCC would surpass the record of 189 convictions achieved in 2017, going by over 158 convictions secured between January and August this year.

He also mentioned that politicians defecting from one party to another would not be shielded from prosecution by the anti-graft agency.

He said, “The fact that a politician jumps from one party to another will not stop EFCC investigation. We don’t stop investigation until it is concluded.

“It is only the courts that have the powers to decide on whether to exonerate or convict any indicted politician.”

Responding to questions on alleged interference by the ruling All Progressives Congress (APC), Magu said that he had never received any instruction to stop any investigation.

“I am not the type you’ll ask to stop any investigation,” he said.

The EFCC chairman added that it had become fashionable for anyone being investigated for corruption by the Commission to scream political persecution.

“With the general elections fast approaching, the resistance has assumed even frightening dimension with political motives imputed to most of our activities,” he said.

Magu, who described journalists as corruption hunters, said that the media owed Nigeria a duty not to allow the corrupt to deploy their ill-gotten riches to corner the machinery of government.

He appealed to media practitioners not to lend their platforms to helping the cause of the corrupt that are “shedding crocodile tears”.

“We must all do what is right for our country, which is ensuring that those who steal our common patrimony are brought to justice,” he said.

The EFCC boss said that banks must strengthen internal control as he urged the Central Bank of Nigeria to re-appraise regulatory and ethical conduct of banks in order to win the fight against corruption.

He also expressed concern at the state of seized assets rotting away at various locations across the country.

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