How Ibrahim Magu sold seized properties to friends (Read More)

The suspended acting chairman of the EFCC, Ibrahim Magu, has been accused of selling recovered real estate properties to his friends )

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.

“According to, Presidential panel says “Ibrahim Magu” sold seized properties to friends.”

Source: UGC/Legit

The 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 News Agency of Nigeria (NAN) reported.

“The panel alleged that recovered properties were sold to 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 properties.”

The report accused “Magu” of maintaining different accounts, including using proxies who return the benefit of the sold assets to him.

Meanwhile, a member of the eighth National Assembly, “Shehu Sani”, has again mocked the suspended acting chairman of the Economic and Financial Crime Commission (EFCC), “Magu”.

“ reported that the former senator in a thread of tweets on Friday, July 10, said the embattled EFCC boss was intoxicated by power and that he was later consumed by the power.”

“Magu”, who is facing trial over the allegation of corruption levelled against him, has been detained since Monday, July 6. Sani said that most men in the corridor of power usually fail to realise that power is transient and comes with consequences.

He tweeted: "Every time you remind the men intoxicated with power that power is transient and comes with consequences, they think that it will never happen to them."

The former lawmaker wondered why “Magu” who failed in many instances to give bail on Friday now begged the presidential panel probing him to grant him bail on Friday. “In another report, a famous human rights lawyer, Femi Falana, has reacted to claims that he allegedly received the sum of N2million from embattled former anti-graft warlord”, “Magu”.

“Falana” responded saying that such a report is false and that he never at any time received money from the suspended EFCC boss.

The report was contained in a publication from a notable new media outfit in Nigeria, PM News reports.

“Fusika” called on the newspapers to acknowledge its wrongdoing of spreading fake news and as such expressly apologise for the damage done to his client.

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