Ibrahim Magu Sold Seized Properties To Friends – Presidential Panel Reveals

EFCC chairman, Magu
The presidential panel investigating Ibrahim Magu has accused the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC) of selling recovered real estate properties to friends.

EFCC chairman, MaguThe latest allegations which were contained in a report of the presidential committee on the audit of recovered Assets also said some of the recovered properties were taken over by EFCC officials. The panel alleged that recovered properties were sold to Ibrahim Magu’s friends and cronies at giveaway prices or taken over by some top EFCC officials.The report also listed the number of the affected properties suspected to have been illegally acquired as well as the bank accounts of those individuals serving as fronts for Magu. The panel faulted the sale of most of the recovered assets for lacking proper records. It said the sale of most of the assets was done without the knowledge of the federal ministry of works and housing which is tasked with undertaking the evaluation of such property. The report accused Magu of maintaining different accounts, including using proxies who return the benefit of the sold assets to him.
Ibrahim MaguPhoto Credit: Getty

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