Home / CRIME / Magu Says 60% Looted Funds Still in Nigeria *Promises to comply with court order on Diezani’s extradition

Magu Says 60% Looted Funds Still in Nigeria *Promises to comply with court order on Diezani’s extradition

Yemi Akinsuyi

The acting chairman, Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has said about 60 percent of looted funds by corrupt individuals are still kept in Nigeria.

Magu, who stated this during interaction with the media at the Commission’s Headquarters, Abuja, yesterday, said EFCC was still waiting for the United Kingdom for the extradition of former Petroleum Minister, Diezani Allison-Madueke.

While calling on the media to join in the fight against corruption in the country, the EFCC boss said the fight against the ‘shark’, which he said was about swallowing the nation, was to be carried out by all and sundry, especially the media.

He also called on the security agencies, especially the Police to help more in the fight against the dragon.

In his words: “The fight against the shark, which has opened its mouth to swallow the country, is not to be taken with levity. We at the commission are faced with serious problem in our hands. I can say categorically that 60 percent of the loot fund is still in Nigeria.

“A good example is the recovery we made in Ikoyi, Lagos, where money was kept everywhere in the house. In the toilet, wardrobe, rooftops. Everywhere you move, you see dollars, pounds, and naira. I need your assistant. You are quite closer to the masses than other professions.

“The court gave the directive that former Petroleum minister, Diezani, because of the request EFCC made in order to extradite her to the country for prosecution. We are complying with the directive and we are also getting across to the UK government for her extradition. It’s just that we are in Nigeria and she is in UK. So, the mission is not fast to accomplish.”

Magu, however, regretted that over 80 percent of the recovered loot from abroad are still hanging, despite several appeals and talks to release the monies to the rightful owner.
“I want you, as media practitioners, to ask international community why all the monies recovered from looters are still hanging despite several efforts from the Federal Government to release it. Let me tell you, over 80 percent recovered funds from foreign countries are still hanging. They just refused to release it to us”, he lamented.

While promising the commission’s resolve in tackling the menace, Magu said everywhere Nigerian money is being kept must vomit it.

“Our new findings have it that the corrupt individuals are now taking out money to even Morocco, we will get them. We will ensure that no Nigerian money would be allowed to be stolen and kept in any part of the world.”

Speaking on the commission’s preparations towards the forthcoming elections, the EFCC boss said the commission is already working hand in hand with Independent National Electoral Commission, INEC in ensuring that corrupt individuals would not have the field day.

As part of efforts in ensuring adequate welfare for the commission’s staffers, Magu said he has officially informed the power that be on the need for the increment of their emolument.

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