The presidential panel that probed Ibrahim Magu says 14 fraud cases involving N118 billion and $309 million were abandoned by the former acting chairman of the Economic and Financial Crimes Commission (EFCC).
In the final report submitted to President Muhammadu Buhari in November 2020, the EFCC, under Magu’s watch, was also accused of not remitting another N48 billion loot recovered in foreign and local currencies, TheCable can report.
The panel headed by Ayo Salami, former president of the court of appeal, was set up to probe the EFCC from May 2015 to May 2020 when Magu was in charge of the agency.
TheCable understands that the report has now been submitted to the office of the secretary to the government of the federation.
A panel to produce the white paper will soon be set up, presidency sources informed TheCable.
The former EFCC boss was alleged to have mishandled the recovered loot and sold seized assets to his associates.
Wahab Shittu, Magu’s lawyer, declined to comment on the report when contacted by TheCable “because I cannot talk on a report I have not seen”.
