Magu’s Probe: Buhari Orders Panel To Audit EFCC Account From 2015 To 2020, Panel To Submit Final Report By August 19

President Muhammadu Buhari has directed the panel probing the suspended acting Chairman  of the Economic and Financial Crimes Commission, Ibrahim Magu, to  audit the assets and finances  of the agency between 2015 and 2020 with a view to ascertaining compliance with procurement procedures of  the  EFCC.

In the instrument constituting the panel obtained by THE WHISTLER, the President also directed the panel to investigate and report on corruption and money laundering allegations involving Magu  and Bureau de Change operators  as well as the suspended chairman’s associates.

Buhari  ordered  the seven-man  panel led  by a retired president of the Appeal Court, Ayo Salami , to investigate, verify and review the recommendations of the Presidential Committee on Audit of Recovered Assets as they related to the EFCC with a view to ascertaining the complicity or otherwise  of Magu in the mismanagement of the assets recovered.

He further directed the panel to “identify avenues through which the recovered assets are dissipated and seized, recovered, forfeited (interim and final) assets  are valued, managed, or mismanaged with  a view to ascertaining compliance or otherwise with extant laws, regulations, processes and procedures.”

Buhari ordered the panel to determine whether moveable or immoveable assets including funds or cash recovered during Magu’s tenure, whether locally in Nigeria or abroad were being kept safely in a manner as to preserve their original value.

He asked the panel to identify the location of all moveable or immoveable assets, funds or cash that were under interim or final forfeiture based on administrative or court orders.

The President also ordered the panel to identify the bank accounts to which recovered funds or cash were paid into and whether generated interests from the recovered funds were properly accounted for.

The panel was also directed to confirm if any of the assets had been diverted to the benefit of  Magu, his family, relation , friends or favoured staff  and recover any of such diverted  assets, funds or cash.

The panel is to also investigate and report on the existence or otherwise of dereliction of duty and abuse of processes and procedure against Magu  in the investigation of P&ID, complaints by the UK National Crime Agency in London, complaints of non-compliance with court orders, complaints of non-compliance with procurement  and financial management laws and non-compliance with presidential and ministerial directives.

Buhari also directed the panel to submit interim reports from time to time and submit the final report  not later than 45 days from the date of the first public sitting.

The panel started sitting on July 6 and the 45 -day deadline expires on August 19.