In what seems a case of the hunter being hunted, the activities of the Economic and Financial Crimes Commission (EFCC) are coming under the searchlight of the Finance Ministry, following a request to the Commission to produce records of cash recoveries it made from across the country since the beginning of the Muhammad Buhari administration (in…2015) up till January this year.
Sources confided in InsideBusiness that the request from the Finance ministry was due to alleged discrepancies in the records of the Anti-graft Commission and those of the Office of the Accountant-General Of the Federation ( OAGF).
The EFCC had at various times announced cash asset recoveries in both naira and foreign currencies, from alleged looters of the Nigerian treasury and also recovered some monies hidden across the country by politicians and failed government contractors.
The request from the Finance ministry marks the second time that Ministries were directing the anti-graft agency to supply to them, details of the commission ‘s activities.
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami last year directed the EFCC to submit to his office, list of high profile cases that are under investigation at the agency.
The commission in compliance, sent to the minister, a list of 106 high profile cases that it was working on.
In the letter dated 9 February 2018 with the title “Summary Of Economic And Financial Crimes Commission (EFCC) Recoveries From May 2015 – January 2018” signed by Kemi Adeosun, the finance minister, the Commission was asked to furnish the ministry with details of the cash recoveries between 2015 and the present date, where they were kept and also the accompanying evidences.
Adeosun’s letter, referenced FMF/HMF/ EFCC/S-EFCC-REC/2018/1, and addressed to Ibrahim Magu, the Commission’s Acting Chairman, the minister noted that the figures that were announced in the media by the Commission did not tally with the records at the Office of the Accountant-General Of the Federation ( OAGF).
The letter, according to sources at the Presidency, was sent to the Commission with the records of the Cash Recoveries at the OAGF, with demand for clarification from the EFCC on the alleged differences.
The letter reads ‘This is to notify you of the records of cash asset recoveries in the custody of the Economic And Financial Crimes Commission (EFCC) From May 2015 till date, based on information available to the Office of the Accountant -General Of the Federation (attached).
“It has however come to the attention of the Ministry of Finance, the use of recovery figures in media reports by the EFCC that do not reconcile with the records of the Ministry”.
“You are therefore kindly requested to clarify where these cash recoveries have been deposited and provide accompanying evidence”.
The Finance Minister’s Spokesperson, Oluyinka Akintunde In a statement noted that the letter was aimed at improving controls over recovered lots.
“The attention of the Honourable Minister of Finance, Mrs. Kemi Adeosun, has been drawn to media reports misrepresenting her innocuous letter to the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, on cash recoveries by the Federal Government”
“The Minister wishes to state explicitly that the letter dated 9th February, 2018, was a standard letter aimed at improving controls over the recovered funds.
“There is no ulterior motive behind the letter as alleged in some media reports but to enable the reconciliation and harmonisation of the figures on recovered funds by the Government”.
Wilson Uwajieren, spokesman to the Commission could not be reached to ascertain whether the Commission has complied.
The anti-graft agency had at a conference of the state parties to the United Nations Convention Against Corruption, held in Vienna last year, said it recovered loot totalling N738.9 billion or $2.9 billion between May 2015 and October 20, 2017.
The commission said lot of recoveries were made locally, using the mechanism of the non-conviction based forfeiture provided under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Also on 6 February, during its budget Defence at a meeting with the House of Representatives committee on financial crimes, the Commission said it recovered about N511.9 billion in 2017.
Acting chairman of the commission, Ibrahim Magu, told the lawmakers that the agency, between January and December 2017, recovered more than N473 billion, $98 million, €7 million, and £294,000 among others.
The recoveries, according to Magu, in 2017 included N32 billion and $5 million forfeited to the Federal Gvernment by former Minister of Petroleum Resources, Alison Madueke.
Others forfeitures are N449 million discovered at a plaza in Lagos, $43 million discovered in an apartment in Ikoyi area of Lagos, N329 billion from petroleum marketers in Kano, while withholding tax of over N27.7 billion was retrieved from banks.
Other recovered monies include the Nigerian Ports Authority recovery of €6.6 million, recovery of about N1.1 billion on behalf of AMCON, and the recovery of subsidy fraud funds amounting to more than N4 billion.
He also said the breakdown of the total recovery has been sent to the National Assembly.
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