According to NAN, the EFCC was indicted in the report of the panel as it was discovered that the interest on the N550 billion recovered by the agency under Magu “has been re-looted”.

The panel probed the federal government assets recovered by the EFCC from May 2015 to May 2020.

It said in addition to the unaccounted interests, there is also a difference of N39 billion between EFCC’s deposits in the bank and what the agency said it recovered.

“It is quite disturbing that conflicting figures are being circulated in the public space by EFCC as the amount of recovered funds,” the report read.

“For Foreign currency recoveries, EFCC reported a total naira equivalent of N46,038,882,509.87, while the naira equivalent of the foreign currency lodgment were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21.

“These inconsistencies cast a serious doubt on the accuracy of figures submitted by the EFCC. It is the committee’s view that the EFCC cannot be said to have fully accounted for cash recoveries made by it.

“While EFCC reported total Naira recoveries of N504,154,184,744.04, the actual bank lodgments were N543,511,792,863.47. These discrepancies mean that EFCC’s actual lodgment exceeded its reported recoveries by N39,357,608,119.43.

“It must be pointed out that the discrepancy of more than thirty nine billion naira does not include interest accrued in this account since it was opened.

“It therefore cast serious doubt on the credibility of the figures and means that substantial amount of money has not been accurately accounted for.

“Failure to report on the interest on actual lodgments clearly establishes that interest element of over N550 billion has been re-looted relating to the period under review.

“This is an apparent case of manipulation of data in a very brazen and unprofessional manner and this has greatly eroded the public confidence in the anti-corruption efforts.”

The panel is also said to have revealed how the Nigeria Financial Intelligence Unit (NFIU) investigation “exposed acts of corruption and money laundering” against some EFCC officials, including Magu.

“The NFIU reports established that the Acting Chairman has been using different sources to siphon money from the EFCC, and in some cases collecting bribes from suspects,” the report added.

“The report has shown that a particular Bureau de Change, owned by Ahmed Ibrahim Shanono linked to the Acting Chairman based in Kaduna has more than 158 accounts and has been receiving huge sums of funds.

“The link to Magu was also established by the payment of N28 million to FALANA who is a close associate and ally of the Acting Chairman.”

While Magu was suspended, President Muhammadu Buhari approved Mohammed Umar as the acting EFCC chairman pending the conclusion of the investigation.

Earlier on Saturday, Garba Shehu, presidential spokesman, said Magu’s probe shows the presidency is serious with the fight against corruption.

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Hmmm, all this billions billions they keep stealing, dey no dey tire Check my signature to buy intelligent dispenser. Best quality North America product with warranty

Lol.

Sounds like the modus operandi of a former commissioner for petroleum who sometime between 1977-78 looted the interest on #2.5b...

when you see Magu, without telling you, you will see looting all over his body, busy bodies are usually an empty barrel.

This report is too early

Might not be true for now.... But do you know the interest that will be on 500bn?

The interest will as well be in billions or 'higher millions'

This NIGERIA No balance ooo. In a sane country this magu and his likes body should be fed to animals in the zoo.