Africa Press-Nigeria:<\/p>\n
Ibrahim Magu, the suspended acting Chairman of the Economic and Financial Crimes Commission, EFCC, has denied the claim that he failed to account for the interest in the N550 billion recovered fund kept in the Central Bank of Nigeria, CBN, custody.<\/p>\n
Recall that the Final Report of Presidential Committee on Audit of Recovered Assets, PCARA, surfaced at the weekend showing how interest rates accruing from N550 billion recovered by the anti-graft agency in the period from May, 2015, to May 2020.<\/p>\n
The report said the EFCC, \u201cFailure 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.\u201d<\/p>\n
But in a statement by his lawyer Wahab Shittu on Sunday, Magu said such recovered fund kept with the CBN do not generate interest.<\/p>\n
The statement added, \u201cIt is falsehood that Magu placed N550 billion recovered loot into a deposit account.<\/p>\n","protected":false},"excerpt":{"rendered":"
Africa Press-Nigeria: Ibrahim Magu, the suspended acting Chairman of the Economic and Financial Crimes Commission, EFCC, has denied the claim that he failed to account for the interest in the N550 billion recovered fund kept in the Central Bank of Nigeria, CBN, custody. Recall that the Final Report of Presidential Committee on Audit of Recovered […]<\/p>\n","protected":false},"author":62,"featured_media":15937,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[503,76],"class_list":["post-27294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cbn","tag-ibrahim-magu"],"yoast_head":"\n