N431m Loot : More Revelations From Salami’s Panel Emerges as Magu Lands in Fresh Trouble
Investigation and prosecution await Ibrahim Magu, the former acting chairman of the Economic and Financial Crimes Commission (EFCC)
This is as recommended in the report of the Ayo Salami-led panel of inquiry on the ex-EFCC boss
It was gathered the sum of N431 million was wrongly spent by Magu with the space of 2015-2020
FCT, Abuja – More outcomes have emerged from the Ayo Salami panel probe on Ibrahim Magu, former acting chairman of the Economic and Financial Crimes Commission (EFCC).
TheCable reported that the panel report revealed that N431 million security votes allocated to Magu’s office between 2015-2020 were not properly accounted for.
As contained in the report that was tabled before President Muhammadu Buhari in November 2020, Magu was said to have used part of the money to sort out electric bills in his personal far located in the Karshi Development Area of Nasarawa state.
Similarly, part of the money was also said to have been used for cable television subscriptions at his private residence located in Karu, Nasarawa state.
Our heritage reporter gathered that the Ayo Salami panel report has also been tabled before the office of the secretary to the government of the federation.
Before this recent development, Salami’s panel was formed to investigate the activities of Magu during his term as the acting chairman of the EFCC.
Emerging reports have it that another panel will be constituted to produce a white paper for the probe.
In furtherance of the outcome contained in the Salmi-led panel report, it was gathered that some part of the funds were wrongly spent as opposed to what the money was allocated for.
Meanwhile, in the final submission of the panel, it was stipulated that Magu be investigated and prosecuted for wrongfully spending the money.
Details of Magu spending
The panel report also revealed that N80 million of public funds were wrongfully misappropriated.
It was further gathered that N50 million from the funds were refunded while the remaining N30 million remains unaccounted for.
Details of poor exhibit management by the anti-graft agency were recorded in the report of the salami-led panel.
