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EFCC Auctioned Recovered Vehicles To The Presidential Villa – Magu

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vehicles recovered by the EFCC were auctioned to the Presidential Villa

The suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, says some of the vehicles recovered by the EFCC were auctioned to the Presidential Villa, the Ministry of Humanitarian Affairs, Disaster Management and Social Development as well as the Federal Inland Revenue Services and other agencies.

He further stated that some of these agencies had not paid for the vehicles. However, there was an arrangement that the money would be deducted from their financial allocation.

This information by Magu was contained in a letter addressed to the Justice Ayo Salami-led panel. It was titled, ‘Re: Alleged Case of Conspiracy, Enrichment, Abuse of Public Office and Other Infractions,’. The statement tried to explain how some of the recovered vehicles were auctioned to.





The letter was in response to an earlier report by the Presidential Committee on Audit of Recovered Assets. In the report,  Magu was accused of being unable to account for the interest accrued to N550bn. This represented recovered funds as well as recovered vehicles and houses.

vehicles recovered by the EFCC were auctioned to the Presidential Villa

In his response to the allegations of being unable to account for recovered vehicles, Magu stated, “On allocation of vehicles to some government agencies through special auction with presidential approval. The beneficiary agencies of the auctioned vehicles are: the Ministry of Humanitarian Affairs and Disaster Management.  Of which the valued price is to be debited from their allocation; State House, National Commission for Refugees and Displaced Persons; Federal Inland Revenue Service and National Directorate of Employment.”

The suspended EFCC boss said about 450 other vehicles, which had been recovered, had yet to be sold. This is despite receiving presidential approval to do so.

“The commission presently has presidential approval to dispose over 450 forfeited vehicles located in Lagos and Abuja. The vehicles have been valued by the National Automotive Council Valuers and the Federal Ministry of Works and Housing. But no sale/disposal has been conducted yet,” Magu stated.

He said some of the houses permanently forfeited to the Federal Government by looters had also been handed over to some government agencies. Some of them include Voice of Nigeria, North -East Development Commission and the Pension Transitional Arrangement Directorate.

vehicles recovered by the EFCC were auctioned to the Presidential Villa





Magu also explained that some other properties were being rented by the Federal Ministry of Finance, the Nigerian Army and other agencies of government.

  • See Also: Checkout Mercedes-Benz Cars EFCC Recovered From An Alleged Yahoo Boy, His Mother & Girlfriend (PHOTOS)

The suspended EFCC boss attached photographs of some of the recovered assets to the letter he addressed to the panel.
However, it was learnt that an attempt by Magu’s lawyer, Wahab Shittu, to submit the letter to the panel on Monday was rebuffed.

The panel was said to have insisted that there was no basis for the letter and informed Shittu that Magu would be summoned if there was a need for clarification.

“An attempt to submit the letter to the secretary of the panel on Monday failed. Magu’s team was informed that the panel does not entertain letters but it is purely an investigative one. If there is a need for clarification, Magu would be invited,” a source said.

Magu’s lawyer did not respond to calls on Tuesday evening.





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