Finance minister writes Magu, faults figures of recovered loot provided by EFCC

The EFCC Chairman, Ibrahim Magu has often given different figures of cash and assets recovered, mostly from public officials, to prove his agency's unprecedented success in the fight against corruption.

In November 2017, Magu had claimed that the agency recovered about N739 billion within two years and in February 2018 he said as much as N500 billion was recovered in 2017 alone.

But in a letter dated February 9 and addressed to Magu, Adeosun asked for an explanation on why the figures computed by the Office of the Accountant-General of the Federation did not correspond with the EFCC boss' claims about recovered loot in the media.

She said her ministry was only able to account for N91.3 billion recovered loot by the EFCC since May 2015.

In the letter, Adeosun said the total amount calculated by the Office of the Accountant-General, which is a department under the ministry of finance, is N91,383,370,501.73.

According to an updated table of the recoveries attached to the letter, the amount included assets under final and interim forfeitures and funds recovered in foreign currencies.

The letter, which was first made on March 20 by TheDetail, an online publication, reads:

"This is to notify you of the records of cash asset recoveries in the custody of the Economic and Financial Crimes Commission (EFCC) from May 2015 date based on information available to the office of the Accountant-General

It has, however, come to the attention of the Ministry of Finance, the use of recovery figures in news media reports by the EFCC that do not reconcile with the records of the ministry. You are therefore requested to clarify where these cash recoveries have been deposited and provide accompanying evidence."

EFCC responds

Reacting to Adeosun's letter on Monday, March 26, the EFCC spokesman, Wilson Uwujaren said it was "nothing unusual".

"There is nothing unusual about anyone asking for clarification on any matter least of all assets recovery and management which are not the simplest aspects of investigation," Uwujaren told Premium Times.