EFCC: The Full List Of 20 Allegations Against Magu And His Response

Ibrahim Magu
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The allegations against Ibrahim Magu, the suspended acting chairman of the Economic and Financial Crime Commission (EFCC) by the Attorney General of the Federation (AGF), and his response below for your reading pleasure. Allegations Alleged discrepancies in the reconciliation records of the EFCC and the Federal Ministry of Finance on recovered funds. Declaration of N539 billion as recovered funds, instead of 604 billion earlier claimed. Insubordination to the Office of the Attorney General of the Federation (AGF). Alleged late action on the investigation of P&ID, leading to legal disputes. Not…


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‘I Can’t Afford A PR Firm’ — Okonjo-Iweala Seeks Volunteers For WTO Campaign

Okonjo Iweala
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Ngozi Okonjo-Iweala, Nigeria’s candidate for the World Trade Organisation director-general election, says she is in need of volunteers for her campaign. In an interview with Arise TV, Okonjo-Iweala said some of her friends have been helping with media work pro-bono. If elected, Okonjo-Iweala would be the first African to occupy the position. “So far things are going well and I’m grateful for the support of the government and Nigerians. I don’t have any PR firm working for me. I have some friends who are helping with media work pro-bono because…


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How Magu Embezzled N39billion, Gave Osinbajo N4billion, Begs For Soft Landing.

Ibrahim Magu
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Embattled former acting Chairman of the Economic and Financial Crimes Commission, EFCC, allegedly embezzled over N39billion and gave Vice President Yemi Osinabjo N4billion, after the VP gave instructions to him to release some of the recovered loots, Sources within the panel investigating the former EFCC boss reviewed. This is even as investigators discovered that as early as 4 am on Tuesday, EFCC staff members suspected to by “Magu Boys” invaded the headquarters of the anti-graft agency and made away with files and computers containing important information. According to the source…


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First Bank Upgrades Its Mobile Banking Application, Reinforces Its Edge At Putting Customers Ahead In Electronic Banking

Dr.-Adesola-Adeduntan-CEO-FirstBank
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First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has announced that its mobile banking application, FirstMobile has been upgraded with new and improved features to promote safe and convenient Mobile Banking experience for customers. The Bank’s award-winning and dynamic mobile banking application has been redesigned with improved security and self-service features to ease the navigation capability and proficiency of customers. Its unique cool blue color background gives it a more appealing interface for customers to enjoy a unified and streamlined banking experience whilst going about their day to day…


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$9.7M, £74,000 Found In My House By EFCC Was Given To Me As Gift, EX-NNPC GMD, Yakubu Tells Court

Ex NNPC MDs
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Former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu, who is facing money laundering charge, on Wednesday, told the Federal High Court in Abuja that $9.7million and £74, 000.00 the Economic and Financial Crimes Commission, EFCC, found in his house in 2017, were part of monies people gave to him as gifts. Yakubu, who opened his defense before the trial court, said he received the monies in tranches of not more than $10, 000 and not more than £5, 000. Testifying as his own witness,…


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EFCC Picks Director of Operations, Umar To Fill In For Magu

EFCC
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Mr. Mohammed Umar, the Director of Operations, Economic and Financial Crimes Commission (EFCC), has been picked to oversee the affairs of the agency in the absence of Magu. EFCC picks Director of Operations, Umar to oversee the commission. A top official of the commission disclosed this in Abuja on Tuesday. The source, who asked not to be named, said Umar was chosen by the “EFCC’s hierarchy” following the reported suspension of Magu. The official, however, said that the commission had not received any official communication on the reported suspension. Spokesman of…


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Why Senate Declined To Declare Orji Kalu’s Seat Vacant – Lawan

Orji Uzor Kalu
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President of the Senate, Ahmad Lawan on Tuesday explained why the Senate refused to yield to pressure to declare Senator Orji Uzor Kalu’s seat and position vacant during the period of his incarceration. Lawan told leaders of thought from Abia State that what Senate did by preserving Kalu’s seat and his position was not extra-ordinary but the right and just thing to do. The delegation of the leaders of thought was at the National Assembly in Abuja to appreciate the Senate and its leadership for showing their concerns for Kalu…


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Third Mainland Bridge Repairs To Last Six Months

third mainland bridge repairs
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The Federal Government and Lagos State Government have sought the cooperation of motorists and residents on the partial closure of the Third Mainland Bridge which would last six months. Ahead of the closure of the bridge for maintenance work and expected to commence on July 24, the governments urged them to cooperate with the appropriate agencies. The Federal Controller of Works in Lagos, Olukayode Popoola; Lagos State Commissioner for Transportation, Dr. Frederic Oladeinde; and Special Adviser to the Governor on Works, Aramide Adeyoye, made the appeal on Tuesday at a…


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CBN debits banks N216bn for failing short of CRR

Emefiele
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The Central Bank of Nigeria (CBN) was reported to have debited banks N216 billion for falling short of the required Cash Reserve Ratio (CRR). The measure according to the Reuters report on Friday as part of the measures to support the naira currency. According to the report, the naira has come under intense pressure in recent months during the coronavirus pandemic, a sharp fall in the price of oil – Nigeria’s main export – and departing foreign investors, causing a large financing gap. The currency has been hitting new lows…


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COVID-19: Dana Air Resumes Flight July 9

dana air
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Following the recent re-opening of the airports by the Federal Government, Dana Air has announced the resumption of its flight services on July 9, 2020 The airline will operate three daily flights from Lagos to Abuja and back while the date for the addition of Port Harcourt and Owerri will be announced later.  The Chief Operating Officer of Dana Air Obi Mbanuzuo, while speaking on the preparedness of the airlines said, ” Dana Air is ready to fly safely again from the 9th of July. We have worked round the…


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