Magu reveals recovered vehicles auctioned to Presidential Villa, ministries


Embattled former Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu has alleged that some of the vehicles recovered by the EFCC were auctioned to the Presidential Villa, the Ministry of Humanitarian Affairs, Disaster Management and Social Development as well as  the Federal Inland Revenue Services and other agencies.

Magu said some of these agencies had not paid for the vehicles but there was an arrangement that the money would be deducted from their financial allocation.

In a letter addressed to the  Justice Ayo Salami-led panel titled, ‘Re: Alleged Case of Conspiracy, Enrichment, Abuse of Public Office and Other Infractions,’ Magu explained how some of the  recovered vehicles were auctioned.

This was in response to an earlier report by the Presidential Committee on Audit of Recovered Assets in which Magu was accused of being unable to account for the interest accrued to N550bn recovered funds as well as recovered vehicles and houses.

While responding to the allegations of being unable to account for recovered vehicles, Magu stated, “On allocation of vehicles to some government agencies through special auction with presidential approval. The beneficiary agencies are: the Ministry of Humanitarian Affairs and Disaster Management of which the valued price is to be debited from their allocation; State House, National Commission for Refugees and Displaced Persons; Federal Inland Revenue Service  and National Directorate of Employment.”

The suspended EFCC boss said about 450 other vehicles, which had been recovered, had yet to be sold despite receiving presidential approval to do so.

“The commission presently has presidential approval to dispose over 450 forfeited vehicles located in Lagos and Abuja. The vehicles have been valued by the National Automotive Council Valuers and the Federal Ministry of Works and Housing. But no sale/disposal has been conducted yet,” Magu stated.

He said some of the houses permanently forfeited to the Federal Government by looters had also been handed over to some government agencies like the Voice of Nigeria, North -East Development Commission and the Pension Transitional Arrangement Directorate.

The suspended EFCC boss explained that some other properties, which had been forfeited pending the outcome of court cases, were being rented by the Federal Ministry of Finance, the Nigerian Army and other agencies of government.

The letter further read, “Real properties finally forfeited to the Federal Government of Nigeria and allocated to some agencies for official use in line with the Presidential approval are: Voice of Nigeria,  National Directorate of Employment, Ministry of Humanitarian Affairs and Disaster Management, North East Development Commission and Pension Transitional Arrangement Directorate.

“Properties under interim forfeiture order are rented by the following government agencies: Nigerian Army, Federal Ministry of Finance, Fiscal Responsibility Commission, Nigerians in Diaspora Commission and Federal Airports Authority of Nigeria.

“Other agencies of government that have approached the commission to rent properties under interim forfeiture order include: National Human Rights Commission and National Council for Arts and culture.”

Magu said the commission also temporarily handed over property in Lagos to the Lagos State Government for use as isolation centres for COVID-19 patients.

The suspended EFCC boss attached photographs of some of the recovered assets to the letter he addressed to the panel.



2 thoughts on “Magu reveals recovered vehicles auctioned to Presidential Villa, ministries

  1. AvatarDr Pat Kolawole Awosan

    Were president Muhammadu Buhari, not aware that some of the recovered vehicles houses from some of the economic saboteurs who looted our taxpayers funds and asset, to enriched themselves. Definitely, the president Muhammadu Buhari, knew that some of his officials benefited from buying those recovered vehicles and houses, from looters.I will rate and classify that only president Muhamamdu Buhari, alone could stand on the solid platform of transparency, as there are so many corrupt-ridden elements working in the presidency.
    EFCC leader, Ibrahim Magu, openly declared EFCC sold at give away prices recovered vehicles and asset, to the presidency’s officials.
    President Muhamamdu Buhari, should take time and watch his minister of justice,Abubakar Malami’s son’s Youtube-video’s wedding, where Malami’s son was spraying dollars, and investigate to confirmed the mansion Abubakar Malami, buys for his son with highly expensive SUV, in order to trust justice minister,Abubakar Malami.Abubakar Malami, is a deeply corrupt-ridden minister of justice.

  2. AvatarDr Pat Kolawole Awosan

    President Muhammadu Buhari, should investigate his staff members, who benefited from buying EFCC seized vehicles and asset, from economic saboteurs, must all be identify and dismissed from the Nigeria presidency, as benefactors of corruption recovered asset.


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