Recovered Vehicles Auctioned to Presidential Villa, Ministries and Others – Ibrahim Magu

The suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu hinted that some of the vehicles recovered by the agency 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 stated also that some of these agencies had not paid for the vehicles however arrangement made was that the money would be deducted from their financial allocation.

Magu, 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,’ explained how some of the  recovered vehicles were auctioned.

The letter 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.

In his response 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.