EFCC: Magu failed to account for 332 recovered properties – Report

The suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has again been accused of allegedly failing to give a proper account of missing 332 out of the 836 recovered real estate property in March 2018.

A report by the Presidential Committee on Audit of Recovered Assets (PCARA) made available to the News Agency of Nigeria (NAN) confirmed the development, indicating that the unaccounted property was worth billions of naira.

The report also noted massive wastage and deterioration of physical assets (including landed property, cars and vessels recovered by the EFCC due to poor management.

According to the fresh report obtained by NAN, Mr Magu and some top officials of EFCC were allegedly using these recovered assets to corruptly enrich themselves.