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More Trouble For Magu As Panel Says He Abandoned N118bn Fraud Cases, Failed To Remit N48bn Loot, Other Properties Unaccounted For

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The presidential panel that probed Ibrahim Magu says 14 fraud cases involving N118 billion and $309 million were abandoned by the former acting chairman of the Economic and Financial Crimes Commission (EFCC).

It was gathered that the final report submitted to President Muhammadu Buhari in November 2020, the EFCC, under Magu’s watch, was also accused of not remitting another N48 billion loot recovered in foreign and local currencies.

The panel headed by Ayo Salami, former president of the court of appeal, was set up to probe the EFCC from May 2015 to May 2020 when Magu was in charge of the agency.

According to TheCable, the report has now been submitted to the office of the secretary to the government of the federation.

A panel to produce the white paper will soon be set up, presidency sources informed TheCable.

The former EFCC boss was alleged to have mishandled the recovered loot and sold seized assets to his associates.

Wahab Shittu, Magu’s lawyer, declined to comment on the report when contacted by TheCable “because I cannot talk on a report I have not seen”.

The report reviewed both written and oral testimonies of over 100 witnesses, having overtaken nationwide physical verification of recovered forfeited assets, comprising real estate, automobiles, vessels and other non-cash as well as cash assets.

The review of the report of the Presidential Committee on Audit of Recovered Assets (PCARA) appeared to show that the anti-graft commission gave contradictory figures on the total number of recovered real estate.

“The EFCC under the watch of the suspended Ag. Chairman in its submission to PCARA reported N46,038,882,509.87 as being the foreign currency equivalent recovered by the commission between May 29, 2015, and November 22, 2018,” the report stated.

“The EFCC, however, only produced evidence of lodgements of thirty-seven billion, five hundred and thirty-three million, seven hundred and sixty-four thousand, one hundred and ninety-five naira, sixty-six kobo (N37,533,764,195.66), leaving a shortfall of eight billion, five hundred and five million, one hundred and eighteen thousand, three hundred and fourteen naira, twenty-one kobo (N8,505,118,314.21).

“The EFCC reported to PCARA a total naira recovery of five and four billion, one hundred and fifty-four million, one hundred and eighty-four thousand, seven hundred and forty-four naira, four kobo (N504,154,184,744.04); the actual bank lodgement of the naira recoveries was, however, five hundred and forty-three billion, five hundred and eleven million, seven hundred and ninety-two thousand, eight hundred and sixty-three naira, forty-seven kobo (N543,511.792,863.47).

“That EFCC failed to produce before PCARA the evidence/record of the difference of thirty-nine billion, three hundred and fifty-seven million, six hundred and eight thousand, one hundred and nineteen naira, forty-three kobo (N39,357,608,119.43).

“The EFCC, in its returns on non-cash assets, made to the president on April 7, 2017, declared 836 as the total number of recovered real estates, while in its first and second returns to PCARA, it rendered contradictory figures of 339 on 13/12/2017, leaving a difference of 497 and 504 on 9/3/2018, with a difference of 332.”

In addition, the panel alleged that Magu abandoned multi-million dollar fraud cases involving high-profile individuals and transferred some officials of the commission investigating the cases.

He was also accused of disobeying court orders and presidential directives.

“Between 2016 and 2019, fourteen (14) procurement fraud cases involving N117,972,209,035 and $309,151,419 were abandoned under Mr Ibrahim Magu’s watch,” the judicial commission said.

“The commission observed from its findings that prosecutorial decisions by Ibrahim Magu on case files were based on his personal whims, as against the law and facts. The commission also notes the prevalence of widespread corruption, abuse of power and pervasive impunity in the running of the EFCC.”

Jets Missing, Hotels Unaccounted For

The panel also said records of forfeited assets were poorly kept by the commission.

Under Magu’s watch, the panel stated, eight plazas were seized by EFCC but the commission reported no forfeiture of the plazas.

In addition, three jets were listed in interim forfeiture, but the panel could not trace them; 21 hotels were reported to have been forfeited on an interim order, but only eight were found; 42 fuel stations were reported to have been forfeited on an interim order, only eight could be verified.

According to the report, the vessels seized by the commission were neglected and they sank in the sea with a substantial quantity of petroleum products.

“In 2016, Magu halted the process of disposing of two finally forfeited vessels, MT Good Success with 1,459 metric tons of PMS; and MT Askaris with 3,423,097 metric tons of crude…the cargoes eventually sank…Magu also asked the navy to release two vessels conveying illegally refined AGO to their owners,” the panel said.

“Thirteen water vehicles (vessels) handed over to the EFCC by the Nigerian Navy, out of a total number of 154 vessels, have submerged (sunk) with tons of contents.

“The submissions made by the EFCC before the commission shows that, from inception to date, the total number of non-cash assets recovered under final forfeiture was 3133. The analysis of the recoveries shows that some of the assets were disposed of, forfeited to a third party or negligently lost. The commission conducted physical verification of recovered assets across the country from 1st-27th October 2020. The outcome of the exercise was revealing as some of the forfeited assets have been lost, deteriorated, physically possessed by the suspects, or could not be traced and in some instances remain in occupation years after their final forfeiture.

“The EFCC reported disposal of 275 real estate, the judicial commission only confirmed 76 disposal.”

Magu’s Exit

In July 2020, while Magu was the acting chairman of the EFCC, he was arrested, detained and suspended.

He appeared before the Salami-led panel probing allegations of gross misconduct against him.

Magu was further accused of suppressing high-profile cases involving four former governors, one of whom is currently a senator.

It was earlier reported that the panel recommended Magu’s sacking and prosecution over allegations of corruption and abuse of office.

The panel further recommended that Magu should be referred to the inspector-general of police (IGP) for “necessary disciplinary action”, and that he should be prosecuted for the alleged offences.

It has been almost two years since the panel submitted its report, but most of its recommendations are yet to be implemented. Instead, Magu was promoted to the rank of assistant inspector-general (AIG) by the Police Service Commission (PSC) a few weeks before he retired, despite the indictment.

In May, Muhammad Dingyadi, minister of police affairs, said the report of the panel on Magu was still under consideration and the former EFCC boss can still be prosecuted if found guilty despite his retirement.

BIG STORY

Adron Homes Welcomes New Executive, Emphasizing Commitment To Professional Excellence

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In a strategic move to foster growth and elevate the quality of service delivery, the Management of Adron Homes and Properties is thrilled to announce the appointment of exceptional staff members who have exemplified remarkable professionalism and have significantly contributed to the advancement of the Adron brand. We proudly introduce our newly appointed leaders: Adenike Ajobo as Managing Director, Olubunmi Akinfe as Deputy Managing Director, Ihuoma Azuru as Assistant Managing Director of Sales and Marketing (Lagos Nigeria), Barbie Ette as Assistant Managing Director of Sales and Marketing (Northern Nigeria), Odunola Ogundapo as Assistant Managing Director of Sales and Marketing (Western Nigeria), Olasumbo Oguntoye as Assistant Managing Director of Housing Nigeria, and Haastrup as Director General of Customer Service. Together, they will drive our mission forward and ensure continued excellence at Adron Homes.

Aare Adetola Emmanuel King, the Chairman and Group Managing Director of Adron Homes, has issued an important directive to the newly appointed directors of the company. He emphasized the critical need for quality delivery in all aspects of their work. Aare King highlighted that each director must align their actions and decisions with the overarching vision and mission of the organization. He urged them to remain committed to the company’s goals and to foster a culture of excellence, ensuring that their contributions not only meet but exceed the expectations set forth by Adron Homes.

Adenike Abosede Ajobo stands out as a highly regarded authority in the fields of corporate branding, public relations, business repositioning, and organizational strategy. She holds a degree in Linguistics from the prestigious University of Ibadan and has further enhanced her expertise with an Ordinary National Diploma (OND) in Marketing from The Polytechnic of Ibadan.

Her dedication to professional growth is reflected in her memberships with esteemed organizations, including the National Institute of Marketing of Nigeria (MNIMN), the Nigerian Institute of Public Relations (NIPR), and the Nigeria Institute of Personality Development and Customer Relationship Management (NIPD-CRM-dsgnt). These affiliations illustrate her unwavering commitment to continuous learning and excellence within her industry.

Adenike’s professional journey with Adron Homes commenced in January 2024 when she took on the role of Group Company Secretary. Her exceptional leadership skills and strategic vision quickly propelled her up the ranks, and she soon became the Deputy Managing Director of Southern Nigeria. Her impressive performance has now garnered her a well-deserved promotion to the position of Managing Director at Adron Homes, where she is set to steer the company toward a promising future, leveraging her insights and experience to craft innovative strategies for growth and development.

Akinfe Olubunmi Omolara is an esteemed leader and achiever, recognized for her dedication to maximizing her potential in every role she undertakes. She is a graduate of Obafemi Awolowo University, lle-Ife, Osun State, with a Bachelor of Science degree in Microbiology. Her career journey at Adron Homes and Properties, reflects her remarkable growth and commitment to excellence. She has progressed through a range of pivotal roles, from Deputy Group Sales Manager, District Sales Manager, and Deputy District Sales Manager to Deputy Group Customer Relations Officer, Regional Chief Operating Officer, and Chief Operating Officer. Her leadership and strategic acumen continued to shine through her promotions as the Director of Sales and Marketer and later promoted as the Director General of Sales and Marketing. She has now been promoted to the position of Deputy Managing Director , where she will drive growth and operational efficiency for Adron Homes.

Ihuoma Udodirim Azuru’s journey is a testament to exceptional leadership and dedication. Her academic prowess shines through with a B.Sc in Accounting, M.Sc in Business Management, MBA in Human Resources and currently studying Law at the Leadership City University, underscoring her commitment to ongoing personal and professional development. Her career with the company began as Group Head Admin and HR, where she showcased her adaptive leadership style. Subsequently, she transitioned to the role of Director of Sales and Marketing (Southwest). Moreover, she was promoted to the prestigious role of Director General for Sales and Marketing at Adron Homes. Her exceptional leadership, dedication, and strategic vision within the organization leads to her appointment as the Assistant Managing Director Lagos Nigeria.

Odunola Ogundapo is a highly regarded sales and marketing professional, celebrated for her steadfast dedication and strategic insight, which have contributed to her impressive track record of success in the industry. She holds a Bachelor of Science degree in Geology from Olabisi Onabanjo University, where she developed a strong foundational knowledge of earth sciences. Further enhancing her expertise, she earned a Master’s degree in Sedimentary and Petroleum Geology from the prestigious University of Lagos, a program renowned for its rigorous approach and focus on the energy sector. This combination of academic credentials allows Odunola to meld deep scientific understanding with strategic business acumen, enabling her to deliver exceptional results in her professional endeavors.

Odunola embarked on her career in 2017 at Adron Homes and Properties Ltd, starting as a Business Executive. In this role, she quickly demonstrated her innate talents and passion for sales and marketing, employing a goal-driven approach that not only set her apart but also paved the way for her rapid advancement within the company. Her commitment to excellence and her ability to forge strong relationships with clients and stakeholders led to her recognition as a rising star in the organization.

Currently serving as the Assistant Managing Director, Odunola plays a pivotal role in shaping and executing innovative strategies aimed at driving growth and enhancing the company’s market position. Her forward-thinking mindset and comprehensive understanding of market dynamics allow her to identify and seize new opportunities effectively. Under her leadership, the team is not only motivated but also encouraged to think creatively and push boundaries, resulting in increased productivity and morale.

Odunola’s leadership style is characterized by a unique blend of optimism and resilience, which fosters a collaborative and inclusive work environment. She prioritizes the development of her team members, nurturing their potential and empowering them to become future leaders in the organization. This commitment to mentorship and professional growth among her staff has created a culture of excellence that thrives on teamwork and innovation, ensuring that everyone is aligned with the company’s vision and goals. Through her unwavering dedication to her work and her ability to inspire those around her, Odunola Ogundapo continues to make a significant impact in the sales and marketing realm.

Aminat Olaniyan Haastrup is an inspirational customer service specialist, deeply committed to creating exceptional service experiences. With a strong educational background in Estate Management and Customer Experience, she earned her degree from Yaba College of Technology. An Associate Member of The Association of Business Practitioners (ABP) in the UK and a fellow of the Chartered Institute of Customer Relationship Management, Aminat’s journey began as the Director of Customer Services. Renowned for her dedication to customer-centric strategies, she passionately pursues unparalleled service excellence. Through transformative initiatives across the company’s customer relations landscape, Aminat has inspired those around her and achieved her new role as the Director General of Customer Service.

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BIG STORY

EFCC Probes Viral Video Of Chinese Allegedly Tearing Naira Note

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The Economic and Financial Crimes Commission (EFCC) has confirmed it is investigating an incident involving a Chinese national who tore Naira notes in Lagos.

EFCC spokesperson, Dele Oyewale, provided confirmation of this development to our correspondent on Friday.

Reports indicate that the incident took place at a Chinese-owned company along the Lekki-Epe Expressway, when Lagos State Government officials arrived to seal the premises over alleged regulatory violations.

A viral video captured the Chinese national resisting the officials’ attempts to shut down the company. During the confrontation, he pulled Naira notes from his bag and tore them, igniting widespread outrage on social media.

At the scene, some individuals believed to be Nigerian workers at the company appeared to shield the man from being apprehended by the Lagos State officials.

The incident has sparked significant reactions, with many Nigerians calling for the immediate arrest of the individual involved.

Social media users have expressed their anger, urging the authorities to take swift action.

Controversial social media influencer Daniel Regha posted on his X (formerly Twitter) account, “The EFCC should arrest this man and charge him to court for committing a punishable offense. However, my concern is how selectively justice is applied in Nigeria. If this were a high-ranking politician or their associates, the case would likely go nowhere.”

Another user, @Qladele, wrote, “The Chinese man who disrespected Nigerian currency should be arrested. The company involved should also be permanently shut down. Disrespecting your host country should have consequences. Those who obstructed justice should also face the law.”

Similarly, @Dele93748586 shared a similar sentiment, stating, “The person who insulted the Nigerian currency should be arrested, and the location sealed permanently. There must be consequences for this disrespect, and the security personnel who hindered justice should be detained.”

“Imagine if a Nigerian went to China and tore the Chinese Yuan after the Chinese government sealed his business. This is a huge blow to Nigeria. Even though I don’t support the Tinubu-led government, this is an insult to our country and government!” said @PureStanley1.

Another user, @OyinAtiBode, remarked, “Those protecting this man should face consequences, and the disrespectful foreigner should be severely punished—arrested, jailed, deported, and permanently banned from returning to Nigeria.”

Legal practitioner Tolu Babaleye, speaking (with Saturday Punch), stated that the Chinese national should be subjected to Nigerian law, as long as he was not a diplomat.

“He can be arrested, tried, and if convicted, sentenced for mutilating Naira notes, as this is an offense under Nigerian law,” Babaleye said.

Asked if the EFCC had taken action on the matter, Oyewale, the spokesperson for the commission, responded in a message (to Saturday Punch), saying, “The EFCC is looking into the issue, please.”

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BIG STORY

BON Awards Release Line-Up Of Activities Ahead Of November 24

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  • Kwara First Lady To Join Segun Arinze, Wole Ojo Others For Book-Reading

As the Nigerian film industry gets set for the annual pan-Nigerian Best of Nollywood (BON) Awards, scheduled to be held on Sunday, November 24, at the Sugar Factory in Ilorin, Kwara State, the organisers of the travelling awards have released a line-up of activities, alongside other highlights of the 16th edition.

This year’s event is shaping up to be an unforgettable experience, featuring a variety of engaging activities, including a book reading session and the unveiling of new award categories.

A key highlight of the pre-award festivities will be the welcome party scheduled for Saturday, November 23rd in Ilorin. This will be followed by the Book of the Year reading on the morning of November 24, showcasing “Do As You Are Told, Bani” by the acclaimed author Lola Shoneyin.

Esteemed personalities, including the First Lady of Kwara State and well-known Nollywood actors like Segun Arinze, Wole Ojo, Kemi Adekomi, Cynthia Clarke, and Chioma Okafor, will participate in the reading. This session aims to inspire and engage the youths, specifically a select number of school children from Ilorin, Kwara State.

Also, the 2024 BON Awards has been revealed that four of its major award categories have been endowed by notable figures and organisations. The endowed categories include:

Best Indigenous Movie – Endowed by Oba Saheed Eleguishi, a distinguished traditional ruler and arts patron. Best Use of Food – Endowed by Abundish Limited, an agricultural product wholesaler cum grocery market in Lekki, Lagos.

The Best Actress category is also endowed by the Deputy Speaker of the Lagos House of Assembly, Hon. Moji Ojora, a well-known philanthropist and public servant dedicated to women’s empowerment. While the movie with the Best Social Message is endowed by Hon. Toke Benson, the Lagos Commissioner for Tourism, Arts and Culture, and a prominent advocate for social issues.

According to the founder of the Best of Nollywood Awards, these new endowments promise to enhance the awards’ prestige by taking it to the next level and also offer greater recognition for excellence in these fields.

As the seven-day countdown to the 2024 BON Awards begins, and the excitement is building, Feranmi Olaoye, the Executive Director of the awards has promised that this year is not just another gala night but a getaway weekend for hardworking Nollywood practitioners, and others within the Nollywood community.

With the awards’ unique blend of celebrity-filled events and meaningful high-impact initiatives, this year’s ceremony is poised to leave a significant mark on the entertainment industry and the wider Nigerian cultural scene.

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