A report by the Presidential Committee on Audit of Recovered Assets (PCARA) made available to the News Agency of Nigeria (NAN) confirmed that The suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC),Mr Ibrahim Magu, has allegedly failed to give a proper account of missing 332 out of the 836 recovered real estate property in March, 2018. Indicating that the unaccounted property was worth billions of naira.
The report also noted massive wastage and deterioration of physical assets (including landed property, cars and vessels recovered by the EFCC due to poor management.
It also noted with concern the failure to preserve and realise the economic value of the recovered assets, noting that some of the assets were recovered over 15 years ago and left fallow.
According to the fresh report obtained by NAN, Magu and some top officials of EFCC were allegedly using these recovered assets to corruptly enrich themselves.
The report also listed the number of the affected properties suspected to have been illegally acquired as well as the bank accounts of those individuals serving as fronts for Magu and the affected EFCC officials.
“Most of the recovered assets are allegedly sold without anyone knowing and without proper records and without recourse to the Federal Ministry of Works and Housing that has the mandate to undertake evaluation of such property.
Some of the assets have been taken over by EFCC officials while some are sold at a giveaway price to friends and cronies of the Acting Chairman.
“It is also on record that the (suspended) acting chairman is maintaining different accounts, including using proxies who return the benefit of the sold assets to him.
“These funds are then used to procure property and lands in the names of some of his proxies,’’
NAN
- CABLE REPORTERS
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