Magu Finally Reveals How Forfieted Assets Were Sold To Ministries, Govt Agencies

The suspended EFCC chairman Ibrahim Magu has finally revealed how some of the forfeited assets recovered by the agency, were auctioned to ministries and government agencies.

Recall that the Attorney-General of the Federation (AGF), Abubakar Malami, had accused Magu of failing to account for recovered loot and assets.

Malami alleged that Magu sold some of the recovered assets to his associates.

Responding to the allegation, Magu in a letter addressed to the Ayo Salami-led presidential panel probing the allegations, Magu explained how some of the assets were sold off.

He listed the Ministry of Humanitarian Affairs and Disaster Management and the Federal Inland Revenue Service (FIRS), as part of agencies that got recovered vehicles through special auction with presidential approval.

Magu noted that about 450 forfeited vehicles are yet to be sold, although they have presidential approval to be disposed off.

The embattled ex-chairman of EFCC said some of these agencies have not paid for the vehicles, but that there was an agreement for their values will be deducted from the ministries’ allocation.

“On allocation of vehicles to some government agencies through special auction with presidential approval. The beneficiary agencies are: the Ministry of Humanitarian Affairs and Disaster Management of which the valued price is to be debited from their allocation; State House, National Commission for Refugees and Displaced Persons; Federal Inland Revenue Service and National Directorate of Employment, Magu said.

“Real properties finally forfeited to the Federal Government of Nigeria and allocated to some agencies for official use in line with the Presidential approval are: Voice of Nigeria, National Directorate of Employment, Ministry of Humanitarian Affairs and Disaster Management, North East Development Commission and Pension Transitional Arrangement Directorate.

“Properties under interim forfeiture order are rented by the following government agencies: Nigerian Army, Federal Ministry of Finance, Fiscal Responsibility Commission, Nigerians in Diaspora Commission and Federal Airports Authority of Nigeria,”