Nigeria: Presidency Approves Auction Of Recovered Vehicles – Magu

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The suspended acting chairman of the Economic and Financial Crimes Commission Ibrahim Magu, has claimed that some of the forfeited assets recovered by the agency were auctioned to ministries and government agencies.

The Attorney-General of the Federation Abubakar Malami had accused Magu of failing to account for recovered loot and assets.

Malami alleged that Magu sold some of the recovered assets to his associates. But in a letter addressed to the Ayo Salami-led presidential panel probing the allegations Magu explained how some of the assets were sold off.

He listed the Ministry of Humanitarian Affairs and Disaster Management and the Federal Inland Revenue Service as part of agencies that got recovered vehicles through special auction with presidential approval.

Magu noted that about 450 forfeited vehicles are yet to be sold although they have presidential approval to be disposed off.

He also said some of these agencies have not paid for the vehicles but that there was an agreement for their values will be deducted from the ministries allocation.

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