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Magu 'Recovered stolen funds a tip of the iceberg', EFCC boss says

Magu also said plans are in top gear to repatriate all the looters are hiding overseas, adding that huge loots are still stashed overseas.

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EFCC Chairman, Ibrahim Magu play

EFCC Chairman, Ibrahim Magu


The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has described the looted funds recovered by the agency so far as a "tip of the iceberg".

He said the recovered stolen monies are nothing compared to what is still hidden in the country and in different parts of the world.

Magu made the revelation in an exclusive interview with Channels Television on Friday, August 11.

The EFCC boss, whose appointment as the substantive chairman of the Commission was rejected by the Senate twice, said he is determined to recover all stolen funds despite corruption fighting back.

He stressed that his battle with the Senate has not in any way compromised his commitment to secure Nigeria's posterity.

He said, "Personally, it is not a distraction, and I am telling you, that has served as a motivator. That heightened my determination in the fight. The corrupt people are fighting us in all angles on a 24-hour basis so our main challenge is the corruption fighting back using all sorts of instruments but we are trying our best, it has also heightened our commitment, our determination in the fight against corruption.

"We are not the only agency involved in the fight against corruption so I want to appeal to other law enforcement agencies who are also charged in fighting corruption to put more effort and support us in the fight against corruption but I am telling you what we have discovered is not unusual and it’s the tip of the iceberg.

"We are following all the recovered funds and we intend to recover them all and cause the perpetrators to face the full wrath of the law. Some of them are outside the country and we are following all the modalities, procedures in getting them repatriated back to the country".

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Magu's fate as the EFCC Chief lies with the Supreme Court as the Presidency took the matter to the apex court to determine if the position really requires the Senate's confirmation.

The Presidency had argued that it has the power to appoint Magu's as the substantive EFCC chairman without the ratification of the National Assembly.

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