REPORT: Magu failed to submit EFCC audited accounts for 4 years

REPORT: Magu failed to submit EFCC audited accounts for 4 years

- As the presidential panel digs deep into Ibrahim Magu's activities, there are more woes for the embattled EFCC boss

- A report has uncovered how Magu failed to submit the audited accounts of the anti-graft agency for four years

- Constitutionally, the EFCC is supposed to submit its audited accounts to the National Assembly

PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed

A report by ThisDay indicates that the embattled chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, failed to submit the audited accounts of the anti-graft agency to the National Assembly as required by law for four years.

Magu spent about 5 years in charge of the EFCC notably as acting chairman due to the 8th Senate's refusal to ratify his appointment by President Muhammadu Buhari.

Critics say Magu took advantage of the non-confirmation of his appointment by the Senate to avoid accountability leading to his current woes.

Coronavirus: Traders reveal hike in cost of food items as Easter beckons
REPORT: Magu failed to submit EFCC audited accounts for 4 years

These are not the best of times for erstwhile EFCC boss, Ibrahim Magu. Photo Credit: EFCC
Source: UGC

PAY ATTENTION: Download our mobile app to enjoy the latest news update

Constitutionally, the EFCC is required to submit its report, including its audited account to the National Assembly every year.

Magu’s predecessors, Mallam Nuhu Ribadu, Mrs Farida Waziri and Mr Ibrahim Lamorde all complied with the constitutional provision during their time in office.

On his part, Magu was said to have operated without any scrutiny, a development that negated the practice of the commission.

Analysts say the kind of financial fraud Magu is being accused of could only occur in an unsupervised organisation, adding that had the EFCC been independently audited, a number of the controversial issues hanging on Magu's neck at the moment might have been resolved.

“With this kind of situation, Magu would appear to have operated without supervision by either the National Assembly or the Attorney General of the Federation (AGF) and minister of justice,” an analyst said.

Coronavirus: Engaging activities you can do to avoid boredom following the stay at home order

A presidential panel probing the embattled EFCC boss has already directed the directors and sectional heads in the commission to produce files of cases handled since 2015.

Meanwhile, Legit.ng recently reported that Magu may go on a hunger strike as a way of protesting his continued detention by the federal government.

Magu is said to be considering the move after sensing that the presidency may keep him in detention indefinitely until he answers allegations made against him.

Reall that a combined team of riot policemen and operatives of the Department of State Security (DSS) searched the residences of Magu in the Federal Capital Territory, Abuja recently.

Magu's private home in Karu, a suburb in Abuja and his official residence in highbrow Maitama were ransacked by the security operatives said to be looking for documents.

Magu's ordeal began a few weeks ago when Malami recommended his removal to President Buhari.

Kogi guber: Huge number of APC aspirants is due to my efforts, says Gov Bello

Malami, in a memorandum to the president, anchored his recommendation on several grounds “raging from diversion of recovered loot to insubordination and misconduct” by Magu.

5 years after, Nigerians speak about Buhari's administration | Legit TV

Source: Legit

Mailfire view pixel