EFCC boss, Magu says over N1.3tr stolen under Goodluck Jonathan

chika ebuzor

March 25, 2019 9:07 PM

The chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has revealed that at least N1.3 trillion was stolen between 2011 and 2015.

Acting Chairman of the EFCC, Ibrahim Magu

Magu said during the period, which represents the time Goodluck Jonathan was President of Nigeria, said 32 entities carted away with the said amount.

He said this while speaking to trainees of a programme organised by the Bureau of Public Procurement in Lagos on Monday, March 25, 2019.

Magu, who was represented by EFCC’s Secretary, Ola Olukoyede said the funds could have been used to build about 200 schools and construct over 500km of road.

EFCC boss, Ibrahim Magu and the UAE Ambassador to Nigeria, Mahmud Muhammad Al-Mahmud, at the diplomat's Abuja office on February 3, 2016. ece-auto-gen

According to The Cable, he said “One third of this money (#1.3trn), using World Bank rates and cost, could have comfortably been used to construct well over 500km of roads; build close to 200 schools; educate about 4000 children from primary to tertiary levels at N25million per child; build 20,000 units of two-bedroom houses across the country and do even more.

“The cost of this grand theft, therefore, is that these roads, schools and houses will never be built and these children will never have access to quality education because a few rapacious individuals had cornered for themselves what would have helped secure the lives of the future generations, thereby depriving them of quality education and healthcare, among others.”

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EFCC acting chairman, Ibrahim Magu leads march against corruption in Abuja(Pulse) ece-auto-gen

“I sincerely hope that at the end of this training, we will see a few cases of financial propriety in our procurement processes in government agencies and parastatal.

“Indeed, corruption could kill Nigeria, if we do not scale up our proficiency in contract and procurement management process,” Magu added.

chika ebuzor