Magu In Trouble As Finance Minister Faults EFCC Recoveries

Following claims that the Economic and Financial Crimes Commission has recovered about N740 billion between May 2015 till date, the Federal Ministry of Finance has faulted the anti-graft agency on its recoveries.

The Minister of Finance, Mrs Kemi Adeosun, in a letter dated 9 February, 2018 and addressed to the EFCC boss, Ibrahim Magu, directed the anti-graft agency to appear before the ministry and “clarify where the cash recoveries have been deposited and provide accompanying evidence”.

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The minister’s letter comes days after Magu claimed the EFCC recovered about N511.9 billion in 2017.

The anti-graft chief told lawmakers at his agency’s 2018 Budget defence that between January and December 2017, the EFCC recovered more than N473 billion, $98 million, €7 million, and £294,000 among others.

But according to the letter by Adeosun, Magu’s claim does not reconcile with the records of the ministry.

The letter reads: “This is to notify you of the records of cash asset recoveries in the custody of the Economic and Financial Crimes Commission (EFCC) from May 2015 till date based on information available to the office of the Accountant General of the Federation (attached).

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“It has however, come to the attention of the Ministry of Finance, the use of recovery figures in media reports by the EFCC that do not reconcile with the records of the Ministry.

“You are therefore, kindly requested to clarify where these cash recoveries have been deposited and provide accompanying evidence.”

The anti-graft agency had last year at a conference of the state parties to the United Nations Convention Against Corruption held in Vienna said it recovered loots totalling N738.9 billion or $2.9 billion between May 2015 and October 20, 2017.

 

 

Adeosun-Magu-letter

 

 

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