EFCC: Magu Fails To Submit Audited Accounts For Four Years

Ibrahim Magu, the suspended acting Chairman of the Economic and Financial Crimes Commission, has failed to submit the commission’s audited accounts to the National Assembly.

Information gathered revealed that the suspended EFCC boss failed to submit the audited accounts because the Senate refused to confirm his appointment.

By Section 37 of the establishment act, Economic and Financial Crimes Commission (Establishment, ETC) Act 2004, the commission is required to submit its report, including its audited account to the National Assembly every year.

It states: “The Commission shall, not later than 30th September in each year, submit to the National Assembly, a report of its activities during the preceding year and shall include in such report the audited accounts of the Commission.”

However, despite the decision of the upper chamber not to confirm Magu as the Chairman of the anti-graft agency, EFCC was still required by the law to submit its annual accounts as done by Magu’s predecessors, Mallam Nuhu Ribadu, Mrs Farida Waziri and Mr Ibrahim Lamorde in compliance with the establishment Act.

The EFCC boss on Monday arrived at the Presidential panel led Justice Ayo Salami for the continuation of the investigation of corruption allegations against him.