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Tag: Magu

  • Alleged corruption charges: We are extraditing Diezani back to Nigeria soon – Magu

    The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu on Wednesday confirmed that the anti-graft agency is initiating efforts to extradite the former Minister of Petroleum Resources, Mrs. Diezani Maduekwe back to Nigeria.

    TheNewsGuru.com reports that Diezani is currently facing trails for allegations of corruption while serving as minister under former President, Goodluck Jonathan.

    Sequel to this, several Nigerians have called for her extradition from the United Kingdom to face persecution.

    TheNewsGuru.com reports that properties worth billions of Naira linked to her have since been forfeited to the federal government, many permanently.

    Speaking on Wednesday while addressing journalists, civic groups and others, the EFCC boss confirmed the moves to extradite Mrs. Alison-Madueke.

    “I want you to know that nobody will go unpunished. We are even seeking to extradite Diezani, but investigations are still ongoing,” Mr. Magu said.

    “We have reached a level where nobody can stop us in the fight against corruption, but we all must realise that we are all stakeholders, and this fight is for the future generation.”

    He added that all Nigerians must play their roles, “because EFCC can only do its best; but we must support the agency, and the law should take its course, policies should be strengthened, and punishment must be meted out in good time.”

    Mr. Magu also blamed recent separatist agitations in Nigeria on corruption.

    “Every evil that is happening now is caused by corruption: agitations, strikes, whatever. Corruption has chased our good human resources out of the country. It is the duty of this generation to correct the evils caused by corruption.”

    The anti-graft chief also spoke on corruption among members of his organisation.

    “I want you to tell us if there is corruption in the EFCC,” he said. “It makes no sense if people are fighting corruption and they are corrupt. So, tell us, don’t keep quiet.”

     

  • Magu offers amnesty to repentant looters, says ‘return loot, join us to fight corruption’

    Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, on Wednesday said repentant looters were free to join the fight against corruption.

    “We are calling on every Nigerian to join us; you can even return loot, face consequences then join us to fight corruption,” Magu said, according to a statement from the commission.

    He reportedly spoke at a parley with members of labour unions, civil society organisations, and social media personalities at the EFCC headquarters in Abuja.

    In the statement, spokesman of the commission, Mr Wilson Uwujaren, said the EFCC boss harped on the need for a united front in the anti-corruption crusade.

    “We have reached a level where nobody can stop us in the fight against corruption.

    “But we all must realise that we are all stakeholders, and this fight is for the future generation,” he said.

    Magu reiterated his belief that corruption is the major factor impeding the country’s development, and the root cause of every evil in the land.

    “The EFCC alone cannot fight and defeat corruption; the battle requires the support of everybody to be won.

    “All stakeholders must step up the battle; you are not doing it for yourself.

    “You are doing it for the future of the country and the future generation in order to bring back the change that we really crave for,” he said.

    The anti-corruption czar restated the commission’s resolve to intensify the anti-corruption campaign, urging the stakeholders to “maximise the political will being currently enjoyed under the administration of President Muhammadu Buhari.

    “Let us do the right thing and insist on it because change begins with you and me.

    “From our households to our kids, places of work and beyond, by also living a life of integrity,” he stressed.

    Ayuba Wabba, President of the Nigeria Labour Congress (NLC) commended the EFCC leadership for its steadfastness in the fight against corruption.

    Wabba, however, noted that the efforts could only be successful if the relevant laws were fully implemented.

    “All Nigerians must play their roles, because EFCC can only do its best, but we must support the agency.

    “The law should also take its course, policies should be strengthened, and punishment must be meted out in good time,” he said.

    Dan Nwanyanwu, a lawyer and politician, used the opportunity to commend the EFCC, and stressed the importance of giving the anti-graft agency the necessary support.

    “Every right thinking Nigerian must support every effort being carried out by the EFCC to recover our stolen money and our patrimony,” he said.

    On his part, Mr Joe Abah, a former Director General of the Bureau of Public Service Reforms, also commended the EFCC for taking the gauntlet in the fight against corruption.

    “EFCC is a strong institution and it is the same institution that has produced credible leaders from inception,” he said.

  • EFCC conducts better investigations than Police, Army, DSS, others – Magu

    ..says the fight against corruption now total

    The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu on Thursday said the Commission investigates better than any law enforcement agency in the country including the Police.

    Magu said this while responding to questions about the commission conducting shoddy investigations and prosecuting ineffectively

    “We investigate better than any other law enforcement agency in this country, including the police,” he said.

    Magu said he does not interfere with the work of investigators, adding that once any intelligence is received, the investigation must be concluded.

    The EFCC acting chair also declared that the war against corruption “is now total”.

    The commission, he said, is more determined than ever to fight corruption to a standstill and to sustain “the current momentum”.

    “We’re now going to declare total war on corruption. It is our responsibility to crush corrupt practices in this country,” he said.

    Magu spoke when he paid a courtesy call on The Nation head office in Lagos.

    He described the biggest challenge to the Muhammadu Buhari administration’s anti-graft crusade as “corruption fighting back”.

    “It’s real and they (those fighting back) have all the money,” he said.

    Magu said there were no fewer than 125 high profile corruption cases still “hanging in court”.

    On the delay of such cases, Magu blamed it all on Senior Advocates of Nigeria (SANs), who he said were used by rich and powerful suspects to frustrate cases.

    “How can 31 SANs go to court to defend one (suspected) looter? Sometimes judges are intimidated. Why should 31 SANs appear for a suspect? We need to ask questions,” Magu said.

    He said such lawyers adopt several strategies to delay cases, some of which have spent nearly 10 years in court.

    “They abuse the court process, file all kinds of applications and go on appeal, which goes up to the Supreme Court and back. They adopt different technicalities and delay tactics. Sometimes they provoke the judges and write petitions against them.

    “But I don’t control the judges. We don’t have control over what happens in court. Our role is to investigate,” he said.

    Magu denied allegations that EFCC does shoddy investigations and prosecute ineffectively.

    “We investigate better than any other law enforcement agency in this country, including the police,” he said.

    Magu said he does not interfere with the work of investigators, adding that once any intelligence is received, the investigation must be concluded.

    The Acting EFCC chairman denied any rift with the Attorney-General of the Federation (AGF) and the Department of State Services (DSS).

    “I am a law-abiding citizen. I respect constituted authority,” Magu said, adding that he duly handed over the list of high profile cases as requested by AGF Abubakar Malami (SAN).

    On loot recovery, Magu said one of EFCC’s strategies was to recover assets and funds suspected to be proceeds of crime by applying to the court for interim forfeiture orders, publishing a 14-day notice for the owners to show up, and then applying for a final forfeiture.

    He said the EFCC had appealed the acquittal of former Adamawa State Governor Bala Ngilari, who was discharged by an Appeal Court sitting in Yola of corruption charges.

    Magu denied that former Bayelsa State Governor Timipre Sylva, who is under EFCC investigation, had retrieved properties seized from him by the commission.

    “We have not released any property to Sylva,” Magu said.

    On his non-confirmation by the Senate, Magu said: “I strongly believe in God. When it’s time to leave I’ll leave.”

    On the threat by the Egmont Group of Financial Intelligence Units to expel the Nigerian Financial Intelligence Unit (NFIU) for not being an independent entity, Magu claimed there were moves to meet the group’s demands long before the Senate intervened.

    He said before the Senate’s move to completely remove NFIU from the EFCC, there were moves to make NFIU a separate unit within the anti-graft agency and to secure the tenure of its director so it is not tied to that of the EFCC chairman.

    According to him, granting NFIU “some security and operational autonomy” was what the Egmont Group demanded.

    He believes the Senate’s move to pass a law to make the NFIU independent of the commission was a bid to “weaken the workings of the EFCC”.

    Egmont Group was created to provide Financial Intelligence Units around the world a forum to exchange information confidentially to combat money-laundering, the financing of terrorism and other predicate offences.

    Magu said the shooting at the EFCC had been referred to the police.

    “There is a real threat, but we are used to it,” he said, adding that the department that was attacked had been transferred to a safe location.

    He said the war against corruption could not be successfully fought without media support.

    “I believe all journalists are corruption fighters. Let everybody do the right thing. Let us mobilise everybody’s support in the fight against corruption. Consider yourself as if working for the EFCC.

    “Corruption is the worst developmental problem we have in this country. We need more support. This fight is for our collective good.

    “We should not allow ourselves to be purchased to the detriment of our co-existence. We need to mobilise everybody. Let’s do it together.

    “We need your collective support in whatever we’re doing. You have supported us and we ask for more support. We owe a duty to this country. We must do the right thing for our collective good.

    “We’re not going to completely kill corruption, but we have a collective responsibility to reduce it,” Magu said.

     

  • Corruption: EFCC recovers over N430.8b, secures 137 convictions in eight months – Magu

    Corruption: EFCC recovers over N430.8b, secures 137 convictions in eight months – Magu

    …Says ‘I’m not fighting anyone’

    The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu on Wednesday confirmed that the commission has so far recovered over N430, 849,162,174 billion in eight months.

    The funds recovered are N409, 270, 706,686.75; $69, 501,156.67; £231,118.69, €610,816.20; Dr. 443,400.00 (Dirham) and SR70, 500.00 (Saudi Riyal).

    He also said the EFCC has secured 137 convictions within the same period under review.

    The anti-graft chairman, however, said he is not fighting anybody and he has no issues with anyone.

    Although he said he meant no harm in pursuing the fight against corruption, he vowed to fight the menace to a standstill.

    He urged the media to remain undaunted in supporting the EFCC.

    Magu, who spoke at a session with representative of media organisations in Abuja, said the battle against corruption was already half won.

    He said: Gentlemen of the press, regardless of the challenges that we have faced and continue to face, I am happy to report that we are making progress.

    “Many of you are aware of the achievements that we have recorded in the fight against corruption, especially in the area of assets recovery. Two (three) days ago, we got the court to forfeit to the Nigerian Government a sum of N7.6billion which was hidden in a Nigerian bank by former Petroleum Resources Minister, Diezani Alison-Madueke.

    “Two weeks earlier, another court issued a temporary forfeiture order to seize properties worth $21,392,224)belonging to the same former minister. Those properties are awaiting final forfeiture.

    “Over a month ago, the commission recovered over N329billion from a group of oil marketers for the Nigerian National Petroleum Corporation (NNPC). These are major recoveries from a sector of the economy. But to give a holistic picture of the aggressive drive to recover stolen wealth, I have the pleasure to report that the commission, between January and August 30, 2017, recorded the following monetary recoveries: N409, 270, 706,686.75; $69, 501,156.67; £231,118.69; €610,816.20; Dh 443,400.00 (Dirham); and SR70, 500.00( Saudi Riyal).

    “In the area of prosecution of cases in court, we are also making progress despite the antics of some persons accused of grand corruption to delay trial.

    “Between January and August this year, EFCC recorded 137 convictions. The potentials for improvement are good as more cases are brought to conclusion in the remaining four months of the year,” he added.

    Magu also opened up on the purported rift between him and the Attorney-General of the Federation, Mr. Abubakar Malami.

    He said he had no issues with anybody and not after anyone.

    Magu said: “Ladies and gentlemen, it would be naïve for anyone to expect the fight against corruption to be smooth; you should expect resistance and opposition which are expressed in various guises.

    “From what we read in the papers these days, it is either somebody is fighting Magu or Magu is fighting other people.

    “ I know that journalists want to sell their newspapers, but seriously speaking, instead of fighting ourselves, we should be united in fighting the common enemy, which is corruption.

    “Personally, I am not after anybody and have no issues with anybody. Those who think they have issues with me will soon discover that I mean no harm. What drives me is the passion to do what is right by ensuring that we fight corruption to a standstill in this country.

    “I believe in self-discipline, I respect authority. The AGF is number one minister, there is no reason for conflict.

    “This is a fight for all of us, it is not just one person. Nobody can claim ownership, nobody has a monopoly of knowledge in fighting corruption. We need everybody on board now that the fight against corruption is getting tough.

    “It has never been this tough. Corruption is fighting back. We are fighting corruption to ensure a better life for Nigerians and so that the next generation can be comfortable. It is not for our selfish interest.

    “The way we are going, the corrupt elements have already failed, the battle is already half won but we must sustain the momentum. But the media is vital, the media is very key to the sustenance of the momentum. We must be united in fighting corruption because it is poison.”

    On the setting up of a centre by the AGF to assist law enforcement agencies in investigation and prosecution, the Acting EFCC chairman said the agency was “ready to work with the centre.”

    “Setting up committees or centres to work with law enforcement agencies has been done severally. It is just to bring in additional prosecutors to add value to what we are doing.

    “Already, we have 137 convictions in eight months. Can you find out even if there is any law enforcement agency that recorded 10% of what we secured? We are ready to work with them.”

    He debunked the notion that the EFCC has been indulging in media hype.

    He said: “With all these media disclosures, we are just trying to be very transparent so that if you are not there, the records will be there.

    “If there are things we are doing wrong, tell us. If there are things we are doing right, tell us so that we can improve.

    “This meeting is part of my ongoing interface with critical stakeholders. Of course, there is no gainsaying the fact that the media remains the most important ally of the EFCC in the fight against corruption.

    “We owe the media a debt of gratitude for whatever success we have recorded in the last two years. More importantly, we are convinced that the media remains strategic for future success of the EFCC and the fight against corruption in our country.

    “I have not called you here to lecture you on anti- corruption. I am here to listen to you, to know what we are getting right and areas where we need to improve. I will be taking notes.

    “This conviction inspired my decision to meet with you in this informal setting to interact and exchange ideas on the way forward in the fight against corruption in Nigeria.

    Remarkable as this feat is, we are not resting on our oars. We believe there is still a lot to be done which is the reason why we are actively seeking the support of all stakeholders, including the media.

    “We do not pretend to have a monopoly of knowledge on how to win the war against corruption.

    “The anti-corruption campaign requires a concerted effort. I enjoin members of the public, including the media, to be part of this effort by reporting cases of corruption to the EFCC.”

     

  • Buhari investigating feud between Magu, Malami – Lai Mohammed

    Buhari investigating feud between Magu, Malami – Lai Mohammed

    The Minister of Information and Culture, Lai Mohammed has said President Muhammadu Buhari is investigating the feud between the Attorney General of the Federation, Abubakar Malami (SAN), and the acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu.

    Mohammed said this during ‘Sunrise Daily’ on Channels Television on Tuesday.

    On the reason for the feud, the minister said, “That is what the investigation will bring out. The President is aware and is investigating it. He is the employer of both of them.”

    When asked if the feud between both anti-corruption officials won’t affect the war against corruption, he said, “The fact that the AGF and the EFCC chairman do not see eye to eye on the methods or the approach does not mean that both of them do not believe in the ultimate which is that corruption must be addressed.

    “If they disagree on approach, then the President will look into the matter and make his pronouncement. He will ask why the AGF is taking such a position and why the EFCC chairman is taking another position.

    “This, to me, is a purely administrative matter and if it is not, Mr President will take appropriate action.”

    Recall the AGF Malami had blamed Magu for Nigeria’s suspension from the Egmont Group, an international anti-corruption body with over 135 member countries.

    He had directed him to send complex cases to the AGF for prosecution.

  • Magu describes loot recovered from Diezani as ‘just a tip of the iceberg’

    The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has described the loot recovered from embattled former Minister of Petroleum Resources, Diezani Alison-Madueke, as just a tip of the iceberg.

    “What we have recovered so far from Diezani is just the beginning,” Mr. Magu said while being quizzed by TVC news on Thursday. “Its just a tip of the iceberg.”

    At least N47.2 billion and $487.5 million in cash and properties has been traced to the former oil minister, Mrs. Alison-Madueke by the anti-graft agency.

    The former minister is also being investigated for corruption and money laundering in the United States and the United Kingdom.

    Mr. Magu said the EFCC is working with other agencies around the world to unearth more loots linked to Mrs. Alison-Madueke.

    “We are moving in and we will recover every loot linked to her. We will get other people she’s work with,” Mr. Magu said.

    Mr. Magu said his greatest challenge since he took up the tough job to man the anti-graft squad is that corruption is fighting back.

    The acting EFCC chairman, whose fate still hangs in the balance following the delay in his confirmation by the Senate, said he doesn’t allow the issue distract him from the job. “It rather motivates me,” he said.

    Mr. Magu is one of the pioneer officers drafted into the EFCC from the police by its first chairman, Nuhu Ribadu.

  • AGF/EFCC faceoff: Do as Justice Ministry orders or face sanctions, Presidency warns Magu

    AGF/EFCC faceoff: Do as Justice Ministry orders or face sanctions, Presidency warns Magu

    Sequel to a letter written by the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) on Tuesday directing the Acting Chairman of the Economic and Financial Crimes Commission, EFCC, to forward the list of high profile corruption cases to him (Malami) and henceforth wait for directives, the presidency on Friday issued strong warning to the EFCC leadership or face sanctioned.

    The letter, which sparked off speculations of a rift between the ministry and the EFCC, directed the commission to submit details of its investigations into ‘serious cases’ to the Justice Ministry.

    TheNewsGuru.com reports that such cases include matters with international dimensions, cases involving alleged misappropriation of N50 million and above; cases of fraud involving numerous suspects, among others.

    According to the letter written on August 1, the Minister of Justice, Abubakar Malami, accused the EFCC chairman, Ibrahim Magu, of violating section 10 of the commission’s performance regulation guidelines, 2010.

    “I am directed by the Honourable Attorney- General and Minister of Justice to refer to the Economic and Financial Crimes Commission (Enforcement) Regulations 2010 (the Regulation) published in the Federal Republic of Nigeria Official Gazette No.61 Vol. of 21st September 2010, particularly the obligations of the Economic and Financial Crimes Commission (EFCC/the Commission),” Abiodun Aikomo from the AGF’s office said in the letter to the EFCC sourced by The Cable newspapers.

    “I am directed to refer specifically to Section 10 (1) which mandates the Commission to forward to the Attorney- General, in respect of a case of complaint which is serious or complex within the context of the Regulation, the outcome of its investigation(s) with its recommendations on whether there are sufficient grounds to initiate prosecution.

    “The Honourable Attorney-General observes that the Commission has been in breach of the above-cited provision of the Regulation for some time, hence this reminder to the Commission to ensure compliance going forward,” the letter added.

    Shortly after reports regarding the letter were published by the media, the EFCC and the justice ministry denied any rift regarding the matter.

    “For the avoidance of any doubt, the Economic and Financial Crimes Commission, EFCC, wishes to categorically state that it is compliant with all provisions of law and has no intention to stoke a misunderstanding over requests from the office of the Attorney-General and Minister of Justice,” the commission said.

    The commission also said the EFCC was not negating any known laws in the discharge of its duties.

    However, the Punch Newspapers reported that the Special Assistant to the President on Prosecutions, Okoi Obono-Obla, on Friday waded into the matter, warning the commission to reply the latter or face sanctions.

    “The EFCC cannot be more patriotic than the office of the AGF. Why is it that the EFCC is not cooperating when we are working for the same government? If the EFCC refuses to act on the letter, there will be consequences on acts of indiscipline and insubordination”.

    Obono-Obla however said there was no ‘personality clash’ between the two organisations.

    “There is no personality clash between the two heads. It is wrong to say that there is a clash. The EFCC is an institution and the office of the AGF is another institution. What we need is compliance. We should not personalise our institutions.”

  • Corruption: Arrest lawmakers ignoring your invitation, Sagay tells EFCC, Magu

    Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay has asked the Economic and Financial Crimes Commission (EFCC) to arrest any lawmaker that refused to honour its invitation.

    He insisted that the National Assembly must recognise EFCC as an institution and that no law says an arrest warrant must be sent to it before a lawmaker can appear before the EFCC.

    TheNewsGuru.com reports that the EFCC had on June 20 invited the Senator representing Anambra North Senatorial District, Senator Stella Oduah but she refused to honour the invitation.

    She was invited over petitions in connection to the purchase of two armoured BMW vehicles at N255m by the Nigerian Civil Aviation Authority, NCAA, during her tenure as Aviation Minister.

    Sagay in reaction said, “The EFCC is an institution; so, recognising Magu or not is totally irrelevant and until the Supreme Court says Magu is no longer chairman or acting chairman.

    “The Senate cannot refuse to recognise Magu or the EFCC as an institution.

    “If the EFCC invites you, you must go. There is no law that says invitation letters must come through the leadership of the National Assembly.

    “The EFCC can inform the leadership as a matter of courtesy but letters should go directly to the person being invited.

    “The danger now is that if they keep insisting on this, the EFCC will arrest her”.

    TheNewsGuru.com reports that the National Assembly leadership had earlier told members to ignore invitations from the anti-graft agency.

  • Banks create enabling environments for thieves to loot – Magu

    The acting Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu, has accused banks of creating a friendly atmosphere for looters to operate.

    He added that some banks were currently behind the moves to separate the Nigeria Financial Intelligence Unit and the EFCC.

    Magu further alleged that when the NFIU is established as a separate agency, a former bank managing director would be named as the head of the agency.

    In a Facebook post on Friday, the EFCC quoted Magu as saying this while receiving a delegation of the International Monetary Fund, which visited the commission’s head office, Abuja on Thursday.

    The Senate on Thursday passed into law a bill, which seeks to make the Nigerian Financial Intelligence Unit (NFIU) autonomous.

    TheNewsGuru.com reports that the Senate on Thursday passed a bill seeking to establish the Nigerian Financial Intelligence Agency, NFIU.

    TheNewsGuru.com reports that the bill was presented on the floor of the Senate seven days ago.

    TheNewsGuru.com reports that the powers and funding of the EFCC will be greatly reduced should the NFIU be separated from the commission.

    Reacting to the passage of the bill, Magu said, “I don’t trust the financial institutions. They create an enabling environment for thieves to loot our money. That is why they are fighting to remove the NFIU from us. They want to use a former managing director of a bank to head the NFIU.”

    Magu had last week inaugurated a committee to reposition the NFIU, which was recently suspended by the Egmont Group of Financial Intelligence Units.

    The Egmont Group is an informal international gathering of over 132 financial intelligence units which provide the backbone for monitoring international money laundering activities

    However, the NFIU, which is under the EFCC, was suspended by the Egmont Group for its lack of autonomy and absence of a proper operational framework.

    Magu had set up a committee comprising former officials of the Central Bank of Nigeria and other financial institutions to help reposition the unit.

    The EFCC, in a statement by its spokesman, Mr. Wilson Uwujaren, said, “The committee which has members drawn from law enforcement, financial and regulatory agencies is chaired by Dr. Abdullahi Shehu, a former Director-General of the Inter-Governmental Action Against Money Laundering in West Africa.

    “Other members of the committee are Mr. Chidi Chukwuka from the Nigeria Deposit Insurance Corporation; Mr. Bamanga Bello, Head of the Special Control Unit against Money Laundering; Hajia Jamila Yusuf of the Central Bank of Nigeria; Mr. Udofia Obot, a former Deputy Director, CBN; while Mrs Joke Liman of the EFCC is to serve as secretary.”

  • Banks aiding looters, says EFCC boss,Magu

    Banks aiding looters, says EFCC boss,Magu

    The acting Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu, has accused banks of creating a friendly atmosphere for looters to operate.

    He added that some banks were currently behind the moves to separate the Nigeria Financial Intelligence Unit and the EFCC.

    Magu further alleged that when the NFIU is established as a separate agency, a former bank managing director would be named as the head of the agency.

    In a Facebook post on Friday, the EFCC quoted Magu as saying this while receiving a delegation of the International Monetary Fund, which visited the commission’s head office, Abuja on Thursday.

    The Senate had on Thursday passed a bill seeking to establish the Nigerian Financial Intelligence Agency barely a week after it was sponsored in the chamber.

    The powers and funding of the EFCC will be greatly reduced should the NFIU be separated from the commission.

    Magu said, “I don’t trust the financial institutions. They create an enabling environment for thieves to loot our money. That is why they are fighting to remove the NFIU from us. They want to use a former managing director of a bank to head the NFIU.”

    Magu had last week inaugurated a committee to reposition the NFIU, which was recently suspended by the Egmont Group of Financial Intelligence Units.

    The Egmont Group is an informal international gathering of over 132 financial intelligence units which provide the backbone for monitoring international money laundering activities

    However, the NFIU, which is under the EFCC, was suspended by the Egmont Group for its lack of autonomy and absence of a proper operational framework.

    Magu had set up a committee comprising former officials of the Central Bank of Nigeria and other financial institutions to help reposition the unit.

    The EFCC, in a statement by its spokesman, Mr. Wilson Uwujaren, said, “The committee which has members drawn from law enforcement, financial and regulatory agencies is chaired by Dr. Abdullahi Shehu, a former Director-General of the Inter-Governmental Action Against Money Laundering in West Africa.

    “Other members of the committee are Mr. Chidi Chukwuka from the Nigeria Deposit Insurance Corporation; Mr. Bamanga Bello, Head of the Special Control Unit against Money Laundering; Hajia Jamila Yusuf of the Central Bank of Nigeria; Mr. Udofia Obot, a former Deputy Director, CBN; while Mrs Joke Liman of the EFCC is to serve as secretary.”