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Ibrahim Magu: The Rise and Fall Of The “almighty” EFCC Boss

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4 years ago

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After five years as the public face of the federal government’s anti-graft crusade, the suspension and arrest of Ibrahim Magu, acting Chairman of the Economic and Financial Crimes Commission (EFCC), who is being investigated for corruption is a major blight on the toga of President Muhammadu Buhari’s war on corruption that reinforces the public perception that the whole anti-graft war is just a smokescreen to harass and intimidate perceived opponents of the regime. Notwithstanding his offense, the public drama in which a combined team of policemen and officers of the Department of State Services (DSS) invaded the office of the EFCC to arrest Magu; whisked him off manu militari to face a presidential panel investigating allegations of corruption against him is shameful and most embarrassing to Nigerians. It is a debasement of Nigerian democracy and a sad manifestation of the rule of force over the rule of law. Although the Presidency touted the incident as an affirmation that no one under the Buhari administration is above the law, such brigandage lowers the country’s image before the comity of nations. This is the tragedy of Nigeria.

After over 20 years of democracy, there should be no more room for such conduct. The situation could have been handled more professionally without portraying the DSS as a Gestapo organization. This must never be allowed to repeat itself. Magu has been reportedly detained at the Police Force Criminal Investigation Department in Area 10, Abuja, on the orders of the presidential panel, which continue to question him over “weighty” allegations of misconduct. This is an insult to the Nigerian people carried too far, which does little credit to the image of President Buhari, whose promise of a new dawn in democratic governance and respect for the rule of law formed the plank of his political covenant with the people prior to his electoral mandate in 2015.

To begin with, a person of Magu’s status ought to be treated with dignity and respect in a democratic dispensation. The cavalier manner, in which he was arrested from his office after Buhari had recently applauded his services to the country and personally assented to Magu’s plan to auction over 400 luxury cars forfeited by internet fraudsters, was most undeserving. Without prejudice to any investigation, it is worth noting that it is not within the remit of the presidential panel to probe acts of corruption by public officials. The arrest and detention of Magu certainly need to be justified, but such justification cannot be in violation of due process and the right of presumption of innocence until proven guilty, which Magu is entitled to as a Nigerian citizen. That the presidential panel is treating Magu as if he is a convicted felon is most unfortunate. What if Magu ends up being exonerated?

Besides, a presidential panel is not a court of law and has no authority to order Magu to be detained without bail. In fact, Magu has the right to bail while the investigation is conducted. To subject him to questioning and remanding him in detention even when no competent authority or jurisdiction has established that he is a flight risk; are clear violations of Magu’s fundamental rights, and respect for the dignity of his person and personal liberty as guaranteed by Sections 31 and 35 of the Constitution. Such barefaced violation of the right to privacy and dignity cannot be in the best interest of democracy; it is lawlessness. The president on whose authority the panel is acting must guard against repeating such lawlessness and acting in a manner suggesting a disdain for due process. As for Magu, he should be released immediately or charged in court.

For the avoidance of doubt, the official narrative that the panel is probing allegations of corruption against Magu following a damning memo by the Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami (SAN) is laughable and defies logic. Nigerians have not forgotten the brazen show of megalomania, when as acting President, Yemi Osinbajo sent a letter to the Senate re-nominating Magu as EFCC chairman, after the Senate had rejected his candidacy, citing a DSS security report with the same corruption allegations, which the same AGF, Malami, later claimed to have investigated and cleared Magu of any wrongdoing. ‎

Without equivocation, Nigerians were deeply concerned about the wide-reaching implications of the president acting like defense attorney and holding brief for a man indicted for corruption by the legislative arm of government after the Senate deemed Magu unfit to hold public office. In civilized democracies, Magu himself, seeing that the matter was getting out of hand could have voluntarily withdrawn his nomination. This would certainly have fetched him accolades and leave Nigerians to fight the battle for him in the court of public opinion. But thanks to Buhari’s nonchalance, Magu stayed on for five years. In all, maintaining Magu as acting EFCC chair only authenticated impunity. With Buhari’s total backing, Magu wage a political vendetta and witch-hunt against Buhari’s perceived opponents, including loyalists of the Goodluck Jonathan administration. In the process, Magu stepped on many toes and made many enemies. The list is long and endless.

Former Defence Minister, Lt Gen Theophilus Danjuma (retd) recently visited Buhari. The billionaire oil mogul was seething with rage and anger that the check he issued to purchase an aircraft bounced! Danjuma was informed by his bankers that the order to withhold payment came from Magu! Aso Villa sources said Buhari bent over backward to convince Danjuma that he knew nothing about the incident but the sources also pointed out that Magu read the president’s mind and picked up the signal to finger Danjuma when Buhari dropped Danjuma’s protégé, Ibe Kachikwu from his cabinet. A few weeks before that incident, the Minna home of former military Head of State, Gen Abdulsalami Abubakar was raided and ransacked by EFCC operatives. Buhari also got to know only after the event had happened.

While neither Danjuma nor Abdulsalami is above the law, the instruments of state power should never be used to harass and ridicule citizens. Besides, a man who would take on the high and mighty, including members of the president’s immediate family, must be above board both in his private thinking and public action. Magu failed on both counts: in the past five years, Magu has made many conflicting claims about hundreds of billions of recovered looted funds and assets but subsequent auctions for recovered assets, resulted in choice properties being doled out to his cronies. Since in Abuja, like Washington DC, everything leaks and everyone knows which skeleton is in which cupboard (including who is sleeping with whose spouse), it didn’t take long for Buhari to become inundated with petitions how Magu and his cronies were re-looting the recovered looted funds.

Surprisingly, on November 22, 2017, Buhari appointed a three-member committee to audit all assets recovered by agencies of the federal government from May 29, 2015. Headed by Olufemi Lijadu, who later became chairman of the Securities and Exchange Commission (SEC), the panel was given four months to complete their assignment but ended up spending ten months. But even before they submitted their report, then Finance Minister, Kemi Adeosun, noticed discrepancies from the figures that were emerging and sent Magu a memo seeking clarification on the recoveries “based on the information available to the Office of Accountant-General of the Federation.” According to Adeosun, the attention of her ministry had been drawn to “recovery figures in media reports by the EFCC that do not reconcile with the records of the ministry” asking Magu to “clarify where this cash recoveries have been deposited and provide accompanying evidence.” Magu ignored the memo.

Meanwhile, the AGF to whose office Magu should ordinarily report (but doesn’t out of sheer arrogance) bided his time before writing a damning memo to Buhari regarding the report on recovered assets, which became the basis for Magu’s suspension and arrest. All that notwithstanding, Buhari’s volte-face after keeping Magu in office for five years is the hypocrisy that reduces the presidency to one that will go to any length to pander to the ego-tripping of the president’s men, even at the risk of compromising Buhari’s own integrity. It needs also to be stated that at the topmost management of the public, respect is mutual and reciprocal for the smooth running of the state. Such mutuality is dictated by the decorum exercised by authorities in the discharge of their duties. The government should treat the office of people like Magu with some dignity. They should be treated at their exit, in the same manner, they were treated when they held office. Magu’s office invasion and arrest fell short of this required decorum, for it diminishes the office of the EFCC chairman and debases the ethos and values of Nigeria’s preeminent anti-graft agency. By elimination, it is an index of what Nigeria does not value.

Against a man who prosecuted Buhari’s war on corruption with such messianic zeal, the barbaric arrest was nothing more than whimsical and disdainful impunity, which left much to be desired about the cantankerous temperament of the president himself. Like Nuhu Ribadu, Magu’s ongoing ordeal to the detriment of his office merely advertises the culture of impunity that holds the nation up to public ridicule and does little credit to the President’s image as a statesman. But far more than anything else it engendered, the indecorous public humiliation of Magu remains a national embarrassment and an imprudent display of statecraft.

 

Source: Huhuonline.

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Former banker, Femi Olushakin, others arraigned for alleged armed robbery

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2 hours ago

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December 21, 2024

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A former banker turned businessman, Olufemi Olalekan Olushakin alongside two others on Thursday were arraigned before the Chief Magistrate’s Court in Ibadan, Oyo State for alleged robbery.

 

Olushakin —now at large— and the two suspects — Ayomide Akanbi and David Adewale— were alleged to have conspired to commit felony to-wit armed robbery and thereby committed an offence contrary to and punishable under Section 6 (B) of the Robbery and Firearms (Special Provision) Act Cap RII Vol. 14 Laws of the Federal Republic of Nigeria 2004.

 

In the case with Charge number: MI/1672C (Commissioner of Police, Oyo State Vs. Ayomide Akanbi, M, 32 and David Adewole, M, 47): “Count 1: That you (1) Ayomide Akanbi ‘M’ (2) David Adewole ‘M’ and one Olusakin Olufemi Olalekan ‘M’ now at large on 13th December, 2024 at about 5:00pm at Global Signature Hotel, New Gbagi Road, Ibadan in the Ibadan Magisterial District did conspire together to commit felony to-wit Armed Robbery and thereby committed an offence contrary to and punishable under section 6 (B) of the Robbery and Firearms (Special Provision) Act Cap R II Vol. 14 Laws of the Federal Republic of Nigeria 2004.

 

“Count 11: That you (1) Ayomide Akanbi ‘M’ (2) David Adewole ‘M’ and one Olusakin Olufemi Olalekan ‘M’ now at large on the same date, time and place in the above Magisterial District while armed yourselves with guns and some other dangerous weapons did attack one Akinola Dare ‘M’ and also dispossessed him of cash sum of Two Million, One Hundred and Forty Thousand Naira (N2,140,000.00) only, property of Global Signature Hotel Limited and thereby committed an offence contrary to and punishable under Section 1 (2) of the Robbery and Firearms (Special Provision) Act Cap R II Vol. 14 laws of the Federal Republic of Nigeria 2004.”

 

The Police Prosecutor, Inspector Kefas Usman told court that Olushakin —a former branch manager with a second generation bank and now Chairman of LAC Autos & Spare Ltd.— alongside Akanbi, Adewale and others on the night of Friday, December 13, allegedly forcefully gained entrance into Global Signature Hotel in Ibadan by disarming the security men at the gate.

 

Usman stated that the suspects made forceful and unlawful entry into the hotel, went straight to the control room, destroyed the CCTV memory and cut off the CCTV machine.

 

“After vandalizing it, they went to the POS machine, took the machines of the company, went to the manager of the hotel, one Dare Akinola, at gunpoint took him to the cash registry to collect all the sales of the week including room sales, lodgment, bar & hall payment totalling over N2,140,000 (Two million, One hundred and forty thousand Naira).

 

“They went to all the rooms, rounded up all the customers, and forcefully asked them to transfer money into Olushakin’s personal account during the robbery.

 

“At gunpoint, they gathered everybody to the reception, laid them down at gunpoint and in fear of their lives, the customers made cash transfers to Olushakin’s accounts, they vandalized some other things, took the lodgment book, computers, and other equipment.”

 

The Chief Magistrate, Mrs. Giwa Babalola, ordered that the suspects should be remanded at the Agodi Correctional Center in Ibadan.

 

She adjourned the case till January 29, 2025 for further mention.

 

However, with Olushakin’s absence during the arraignment, the Oyo State Police Command has launched a manhunt for him with a bounty of N5 million placed on him to the public for anybody with useful information leading to arrest.

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Oyo Stampede: Ooni’s ex-wife Naomi Silekunola, others arrested as police confirm 35 minors dead.

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2 days ago

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December 19, 2024

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Oyo State Police Command has confirmed the arrest of organisers of the children’s funfair at Islamic High School, Basorun, Ibadan on Wednesday which resulted in a tragic stampede claiming the lives of 35 children.

 

In a statement released on Thursday, the command’s spokesperson, Osifeso Adewale, disclosed that Prophetess Naomi Silekunola, the main sponsor of the event and former wife of the Ooni of Ife, Oba Adeyeye Ogunwusi, has also been taken into custody.

 

 

Sequel to the Stampede incident recorded on Wednesday 18/12/2024 at the Islamic High School, Basorun, Ibadan venue of the family event Organized by Wings Foundation and Media partners Agidigbo Fm, the Oyo State Police Command wishes to inform the good people of the State that (8) Persons have since been arrested for their various involvements,” the statement said.

 

“These persons include the main event sponsor, Prophetess Naomi Silekunola ’f’ age 31yrs, Fasasi Abdulahi, ’m’ age 56yrs (School Principal Islamic High School, Ibadan), Genesis Christopher, ’m’ age 24yrs, Tanimowo Moruf,’m’ age 52yrs, Anisolaja Olabode, ‘m’ age 42yrs, Idowu Ibrahim, ‘m’ age 35yrs and Abiola Oluwatimilehin, ’m’ age 25yrs.

 

 

“So far (35) Thirty-Five Minors have been documented Dead while (6) Six others are critically injured and on various Medical Interventions.

 

 

In furtherance of the above, the case has since been transferred to the Homicide Section of the State Criminal Investigation Department, Iyaganku with the Deputy Commissioner of Police in charge leading the investigations.

 

 

“So also, residents around the axis are advised not to panic as they would witness high-level patrols and visible Police presence to prevent hoodlums from taking advantage of the unfortunate situation.”

 

The command said it sympathised with all the families of those affected by the tragedy and assured that justice would be served accordingly.

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Tinubu presents 2025 budget to National Assembly

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3 days ago

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December 18, 2024

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… PRESENTATION BY HIS EXCELLENCY, PRESIDENT BOLA AHMED TINUBU, GCFR   OF   THE 2025

BUDGET OF RESTORATION: SECURING PEACE, REBUILDING PROSPERITY   TO   A JOINT SESSION OF THE NATIONAL ASSEMBLY ON WEDNESDAY 18TH DECEMBER, 2024

 

PROTOCOLS: — The Vice President, Senator Kashim Shettima — Senate President, Distinguished Senator Godswill Akpabio — Right Honourable Speaker, Tajudeen Abbas — National Chairman of our great party, Excellency, Abdullahi Umar Ganduje — State Governors here present — Distinguished Leaders and Members of the National Assembly — Senior Government Officials here present — Gentlemen of the press,   My Fellow Nigerians,

1. In fulfilment of one of my constitutional duties and with unyielding commitment to rebuilding Nigeria towards ensuring that we remain steadfast on the journey to a prosperous future, I hereby present the 2025 Budget to the Joint Session of the 10th National Assembly.

2. On this day, before this hallowed chamber, I present to you the 2025 Budget at a time when our country is at a crucial point in its development trajectory.

3. The 2025 Budget Proposal again reinforces our administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation. This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.

4. The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.

5. The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.

6. We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.

7. The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.

8. We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.

9. The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory.

CURRENT ECONOMIC REALITIES AND PROGRESS

10. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly, I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.

11. The reforms we have instituted are beginning to yield results. Nigerians will soon experience a better and more functional economy.

12. Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.   o Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.   o Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.   o Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.   13. These clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.   2024 BUDGET PERFORMANCE   14. I am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget. In 2024, we achieved:   o 14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter.   o 21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.   15. While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt.   PHILOSOPHY OF THE 2025 BUDGET   16. The 2025 Budget seeks to: o Restore macroeconomic stability.   o Enhance the business environment.   o Foster inclusive growth, employment, and poverty reduction.   o Promote equitable income distribution and human capital development.   17. Our budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.   2025 BUDGET OVERVIEW   18. The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society.   o In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.   o Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.   o A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.   19. This is an ambitious but necessary budget to secure our future.   20. The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).   21. These projections are based on the following observations:   o Reduced importation of petroleum products alongside increased export of finished petroleum products.   o Bumper harvests, driven by enhanced security, reducing reliance on food imports.   o Increased foreign exchange inflows through Foreign Portfolio Investments.   o Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.   KEY PRIORITIES: REBUILDING NIGERIA   22. Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.   23. Highlights of the 2025 Budget Allocations: • Defence and Security: N4.91 trillion • Infrastructure: N4.06 trillion • Health: N2.48 trillion • Education: N3.52 trillion   24. As we embark on implementing the 2025 Budget, our steps are deliberate, our decisions resolute, and our priorities are clear. This budget reflects a renewed commitment to strengthening the foundation of a robust economy, while addressing critical sectors essential for the growth and development we envision.   Securing Our Nation: 25. Security is the foundation of all progress. We have significantly increased funding for the military, paramilitary, and police forces to secure the nation, protect our borders, and consolidate government control over every inch of our national territory. The government will continue to provide our security forces with the modern tools and technology they need to keep us safe. Boosting the morale of our men and women in the armed forces will remain our government’s top priority.   26. The officers, men, and women of our Armed Forces and the Nigerian Police Force are the shields and protectors of our nation. Our administration will continue to empower them to defeat insurgency, banditry, and all threats to our sovereignty. Our people should never live in fear—whether on their farmlands, highways or cities. By restoring peace, we restore productivity, revive businesses, and rebuild our communities.   Infrastructure Development: 27. When we launched the Renewed Hope Infrastructure Development Fund, it was with the conviction that infrastructure remains the backbone of every thriving economy. Under this programme, we are accelerating investments in energy, transport, and public works. By leveraging private capital, we hope to complete key projects that drive growth and create jobs. We have already embarked on key legacy projects: Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, which will have a huge impact on the lives of our people and accelerate economic output.   Human Capital Development: 28. Our people are our greatest resource. That is why we are making record investments in education, healthcare, and social services:   o Our administration has so far disbursed 34 billion naira to over 300,000 students via the Nigeria Education Loan Fund (NELFUND). In the 2025 Budget, we have made provision for 826.90 billion naira for infrastructure development in the educational sector. This provision also includes those for the Universal Basic Education (UBEC) and the nine new higher educational institutions.   o We are convinced that Universal Health Coverage initiatives will strengthen primary healthcare systems across Nigeria. In this way, we have allocated 402 billion naira for infrastructure investments in the health sector in the 2025 Budget and another 282.65 billion naira for the Basic Health Care Fund. Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians. This is consistent with the Federal Government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency.   Revitalizing Agriculture: 29. Increasing agricultural production is central to our food security agenda, but insecurity has crippled this vital sector. We are supporting our farmers with funding and inputs to reignite productivity. Food security is non-negotiable. In this regard, we are taking bold steps to ensure that every Nigerian can feed conveniently, and none of our citizens will have to go to bed hungry.   30. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly and fellow Nigerians, our 2025 budget proposal is not just another statement on projected government revenue and expenditures. It is one that calls for action. 31. Our nation faces existential threats from corruption and insecurity and suffers from many past poor choices. These challenges are surmountable when we work collaboratively to overcome them. We must rewrite the narrative of this nation together, with every leader, institution, and citizen playing their part.   32. The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.   33. As your President, I remain committed and resolute to continue to lead the charge.   34. This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved.   35. It is with great pleasure, therefore, that I lay before this distinguished Joint Session of the National Assembly the 2025 Budget of the Federal Government of Nigeria titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity.   36. May God bless our Armed Forces and keep them safe. May God bless the Federal Republic of Nigeria.   Thank you.     Bola Ahmed Tinubu, GCFR President, Commander-in-Chief of The Armed Forces, Federal Republic of Nigeria

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