The suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC),Mr Ibrahim Magu, has again been accused of allegedly failing to give a proper account of missing 332 out of the 836 recovered real estate property in March, 2018.
A report by the Presidential Committee on Audit of Recovered Assets (PCARA) made available to the News Agency of Nigeria (NAN) confirmed the development, indicating that the unaccounted property was worth billions of naira.
The report also noted massive wastage and deterioration of physical assets (including landed property, cars and vessels recovered by the EFCC due to poor management.
It also noted with concern the failure to preserve and realise the economic value of the recovered assets, noting that some of the assets were recovered over 15 years ago and left fallow.
“A disturbing example is the two vessels that allegedly sunk at NNS Beecroft Naval BASE, Lagos and NNS Pathfinder Naval Base in Port Harcourt without trace under…
Source: Vanguard Newspaper
