Senate receives presidency’s request for Magu’s confirmation as Chairman

The Presidency on Thursday, requested the Senate to confirm Mr Ibrahim Magu as Chairman of the Economic and Financial Crimes Commission (EFCC).

A letter to that effect, read at plenary by President of the Senate, Dr Bukola Saraki, also sought the confirmation of Messrs Nasule Moses, Lawan Mamman, Galadanci Imam, and Adeleke Rafiu as members of the commission.

"The Economic and Financial Crimes Commission Act of 2004 established the commission.

"It makes it responsible, among other things, for the coordination and enforcement of all economic and financial crime laws and enforcement functions conferred on of all persons or authority.

"Section 2(1) of the Act also provides that the commission shall consist of the chairman, which shall be the chief executive and accounting officer of the commission.

"He should be a serving or retired member of any government security or law enforcement agency not below the rank of assistant commissioner of police or its equivalent and possess not less than 15 years cognate experience.

"Apart from the ex-officio members of the commission provided for in section 2, the Act also provides for four eminent Nigerians with cognate experience in any of the following - finance, banking, law or accounting.

"Section 2(3) further provides that chairman and members of the commission other than ex-officio members shall be appointed by the president and the appointment shall be subject to confirmation of the Senate.

"Section 3 of the Act provides that the chairman and members of the commission other than the ex-officio members shall hold office for a period of four years and may be re-appointed for anther period of four years and no more,’’ the letter stated.