Magu: Former EFCC chairman denied promotion to AIG pulse.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pulse.ng Daily Mail and Mail on Sunday newspapers.
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A witness, Ngozika Ihuoma, on Thursday, told a Federal High Court in Abuja, that the Economic and Financial Crimes Commission, EFCC, under its former acting Chairman, Ibrahim Magu, mismanaged 222 assets worth N1.63tn.
Abubakar Malami, attorney-general of the federation (AGF), had accused Magu of failing to properly account for recovered loot and assets. The AGF alleged that Magu sold some of the recovered assets to his associates.
The money was recovered by the defunct Pension Reform Taskforce Team.
Ihuoma appeared as the first defence witness in the ongoing trial of the erstwhile Chairman of the disbanded PRTT, Abdulrasheed Maina.
Tasks before new EFCC chairman punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
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EFCC: Bawa as game-changer
By John Oloruntoba
WITH the appointment of Abdulrasheed Bawa, President Muhammadu Buhari may have finally found the magic wand to reinvigorate the Economic and Financial Crimes Commission, EFCC, and combat graft.
This was the preponderant thinking among stakeholders following the statement announcing a change of guard at the iconic Tunde Idiagbon House, thus sealing the hopes of embattled Ibrahim Magu to return to his exalted office after his dramatic suspension last year and even melodramatic trial by the Justice Ayo Salami-led panel.
EFCC came into being in 2003 as part of a national response to address the challenge posed by the Financial Action Task Force on Money Laundering, FATF, which had indicted Nigeria as one of 23 countries that were not cooperating in the global efforts to fight money laundering.