EFCC Recovered N8bn In 2014, As Magu Clears Lamorde Of Alleged Fraud

SAN FRANCISCO, December 15, (THEWILL) – Acting chairman, Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, on Tuesday, said N8 billion was recovered by the agency in 2014.

While reacting to question on the allegations of misappropriation of N1 trillion recovered public funds levelled against his predecessor, Ibrahim Lamorde, the acting EFCC helmsman noted that Lamorde might not have any case to answer.

Magu, who dismissed insinuations that past leadership of the agency might have tampered with recovered funds, however declined to disclose the amount recovered by the agency in 2015.

“The issue of recovery is a difficult one, it is impossible to come with specific figures. This is because lots of money might be recovered from the zones and it may take a week or two before the information gets to us.

“I cannot come up with an estimate, it is unrealistic because you may come up with a figure now only to discover shortly after that, an account is blocked that would be eventually forfeited to the Federal Government.

“It is not easy to tamper with exhibit, no trained detective will tamper with exhibit money or any exhibit for that matter because it is a serious issue. So, all these noise about missing 3.something billion, it doesn’t happen. It is not true sir, you will see, we are investigating it and you will end up seeing that it is impossible.

“I’m not defending anybody, but I’m telling you from the bottom of my heart it is not easy to tamper with exhibits. By training, detectives and investigators all over the world are the same on procedures for exhibit,” Magu informed the Committee.

He also kicked against the autonomy of the Financial Intelligence Unit (NFIU) of EFCC, noting that such independence would derail its mandates in the hands of politicians.

Speaking earlier, Kayode Oladele, chairman, House Committee on Financial Crimes, reiterated the resolve of the House to support ongoing anti-graft war of the present administration towards recovering the looted firearms funds.