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Magu controversy: No seized assets sold in five years- Investigation

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  • Audit panel queries whereabouts of bank interest on seized cash
  • Alleges discrepancies in agency’s records of recovered loots
  • Suspended EFCC chair rules out going to court

An audit panel has raised questions on the whereabouts of the interest accruing from N550 billion recovered by the Economic and Financial Crimes Commission (EFCC) from treasury looters.

The panel has also queried what it perceives as discrepancies in the EFCC records of recovered funds.

The questions are contained in the final report of the  Presidential Committee on Audit of Recovered Assets  (PCARA)  covering May 29, 2015 to Novembr 22, 2018.

The panel is different from the Ayo Salami Presidential Investigation Committee which is currently probing allegations against the suspended Acting Chairman of EFCC, Mallam Ibrahim Magu, by the Attorney General of the Federation and Justice Minister, Abubakar Malami (SAN).

Sources said yesterday that none of the assets seized by the EFCC had been sold, except the 244 trucks which a Federal High Court ordered to be disposed of by the Deputy Chief Registrar of the FHC in conjunction with the Department of Petroleum Resources and the commission.

The proceeds of the sales were remitted into the Federal Government Recovery Account, it was gathered.

The News Agency of Nigeria (NAN) in a report on Saturday quoted PRACA as saying in its report that it was “quite disturbing that conflicting figures are being circulated in the public space by EFCC as the amount of recovered funds.”

Citing foreign currency recoveries as an example, the audit panel said: “ EFCC reported a total naira equivalent of  N46,038,882,509.87, while the naira equivalent of the foreign currency lodgments were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21.

“These inconsistencies cast a serious doubt on the accuracy of figures submitted by the EFCC. It is the committee’s view that the EFCC cannot be said to have fully accounted for cash recoveries made by it.

“While EFCC reported total Naira recoveries of N504,154,184,744.04, the actual bank lodgments were  N543,511,792,863.47. These discrepancies mean that EFCC’s actual lodgment exceeded its reported recoveries by N39,357,608,119.43.

“It must be pointed out that the discrepancy of more than thirty nine billion naira does not include interest accrued in this account since it was opened.

“It therefore casts serious doubt on the credibility of the figures and means that substantial amount of money has not been accurately accounted for.

“Failure to report on the interest on actual lodgments clearly establishes that interest element of over N550 billion has been re-looted relating to the period under review.

“This is an apparent case of manipulation of data in a very brazen and unprofessional manner, and this has greatly eroded the public confidence in the anti-corruption efforts,’’ the report stated in part.

The PCARA alleged acts of corruption and money laundering against some EFCC officials, including Magu.

It said: “The NFIU reports established that the Acting Chairman has been using different sources to siphon money from the EFCC, and in some cases collecting bribes from suspects.

“The report has shown that a particular Bureau de Change based in Kaduna has more than 158 accounts and has been receiving huge sums of funds,” the PCARA report said.

The panel was tasked to audit the Assets and Finances of the EFCC as a legal entity from 2015-2020, with a view to establishing compliance or otherwise with procurement procedures of the EFCC in line with the provisions of the Procurement Act.

Fresh facts however emerged yesterday that none of the assets seized by the EFCC has been sold except the 244 trucks which the Federal High Court ordered to be disposed of by the Deputy Chief Registrar of the Federal High Court in conjunction with the Department of Petroleum Resources and the EFCC.

After selling the trucks, the proceeds were remitted into the Federal Government Recovery Account.

Sources also said there was allocation of vehicles to some government agencies through special auction with Presidential approval.

Assets under interim forfeiture order were also rented by some Ministries, Departments and Agencies (MDAs).

It was learnt that recently the EFCC secured a presidential approval to dispose of 450 forfeited vehicles in Abuja and Lagos.

But the sale of the vehicles is yet to commence.

Despite his travails, the suspended Acting Chairman of EFCC has ruled out a court action against the Federal Government.

He told his relations and lawyers that he has faith in President Muhammadu Buhari to ensure fairness and justice for him.

These details are contained in an investigative fact-sheet on the assets forfeited to the Federal Government.

The suspended EFCC chairman had been accused of selling assets to cronies and relations.

The fact-sheet was already made available to some MDAs and government officials.

Although Magu has denied the allegation, the Presidential Investigation Committee has directed all sectional heads, including the Director in charge of Assets Forfeiture, to submit their reports from 2015 to 2019 on or before Thursday.

Sources said “not a single recovered or forfeited property has been sold and the proceeds fraudulently converted.

“Also, there is a Presidential approval to dispose of 450 forfeited vehicles but no sale/ disposal has been conducted yet.”

One of the sources said: “In the coming days, the comprehensive list of these assets will be defended by the relevant units and Magu.

“It is important to clarify that some MDAs were involved in all the processes on how to dispose of assets; the EFCC or Magu was never unilateral.”

Some of the MDAs which benefitted from the forfeited assets after Presidential approval are the State House; the Ministry of Humanitarian Affairs and Disaster Management; the North-East Development Commission; the National Directorate of Employment( NDE); Pension Transitional Arrangement Directorate (PTAD); Voice of Nigeria (VON); the National Commission for Refugees and Displaced Persons and Lagos State Government.

Those who have sought to rent properties under interim forfeiture are the National Council for Arts and Culture and the National Human Rights Commission.

Other beneficiaries are the Nigerian Army, the Federal Ministry of Finance, the Fiscal Responsibility Commission, Nigerians in Diaspora Commission and the Federal Airports Authority of Nigeria (FAAN).

Magu is said to be not disposed to challenging the Federal Government in court under any guise.

His counsel, Mr. Wahab Shittu, made the clarifications in a chat with our correspondent.

He said: “Magu will not take the Federal Government to court because of his faith in the administration of President Muhammadu Buhari and his respect for the person of the President.

“He also believes that notwithstanding the campaign of calumny, justice will prevail.

“Magu is convinced that there are sufficient documentary materials in the custody of various government agencies  that will exonerate him.”

The Ayo Salami panel is expected to continue its investigation on Sunday.

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Dangote Refinery to Begin Nationwide Distribution of PMS, Diesel, for smooth logistics to marketers

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The Dangote Petroleum Refinery has announced that it will begin distribution of Premium Motor Spirit (PMS) and diesel nationwide.

The statement added that the Refinery has invested in the procurement of 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers to ensure smooth take-off of the scheme, which will continue over an extended timeframe

The statement said, “To ensure the smooth takeoff of the free logistics for marketers and petrol dealers buying from Dangote, the statement further disclosed that the refinery has procured 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers.

“This phase of the programme will continue over an extended timeframe. The refinery is also investing in Compressed Natural Gas (CNG) stations, commonly referred to as daughter booster stations, supported by a fleet of over 100 CNG tankers across the country to ensure seamless product distribution.

This strategic programme is part of our broader commitment to eliminating logistics costs, enhancing energy efficiency, promoting sustainability and supporting Nigeria’s economic development. It affirms our dedication to improving the availability and affordability of fuel, in support of broader efforts to strengthen the economy and improve the well-being of all Nigerians.

“Under this initiative, all petrol stations purchasing PMS and diesel from the Dangote Petroleum Refinery will benefit from this enhanced logistics support. Key sectors such as manufacturing, telecommunications, and others will also gain from this transformative initiative, as reduced fuel costs will contribute to lower production costs, reduced inflation, and foster economic growth. Players in these key sectors and others can purchase directly from the Dangote Petroleum Refinery.

The Dangote Petroleum Refinery has announced that it will begin distribution of Premium Motor Spirit (PMS) and diesel nationwide.

In a statement on Sunday, the company said effective from 15th of August 2025, it will begin the distribution of the products to marketers, petrol dealers, manufacturers, telecoms firms, aviation, and other large users across the country, with free logistics to boost distribution network.

The move, according to the company, was a significant national initiative aimed at transforming Nigeria’s fuel distribution landscape.

The statement added that the Refinery has invested in the procurement of 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers to ensure smooth take-off of the scheme, which will continue over an extended timeframe.

“This phase of the programme will continue over an extended timeframe. The refinery is also investing in Compressed Natural Gas (CNG) stations, commonly referred to as daughter booster stations, supported by a fleet of over 100 CNG tankers across the country to ensure seamless product distribution.

“This strategic programme is part of our broader commitment to eliminating logistics costs, enhancing energy efficiency, promoting sustainability and supporting Nigeria’s economic development. It affirms our dedication to improving the availability and affordability of fuel, in support of broader efforts to strengthen the economy and improve the well-being of all Nigerians.

“Under this initiative, all petrol stations purchasing PMS and diesel from the Dangote Petroleum Refinery will benefit from this enhanced logistics support. Key sectors such as manufacturing, telecommunications, and others will also gain from this transformative initiative, as reduced fuel costs will contribute to lower production costs, reduced inflation, and foster economic growth. Players in these key sectors and others can purchase directly from the Dangote Petroleum Refinery.”

The statement added that the refinery will offer a credit facility to those purchasing a minimum of 500,000 litres, which would allow them to obtain an additional 500,000 litres on credit for two weeks, under bank guarantee.

It described the effort as a milestone in its vision to revolutionise the Nigeria’s energy sector.

“This pioneering effort marks a major milestone in our vision to revolutionise Nigeria’s energy sector. Dangote Refinery is dedicated to ensuring that no place is left behind. Our goal is to provide equitable access to affordable fuel for all Nigerians, regardless of location, making energy more accessible and sustainable for everyone, wherever they may b

 

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NMA FCT Issues Indefinite Strike Threat Over Alleged Ethnic Victimisation and Unjust Dismissal of Three Abuja Doctors

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Tensions are rising at the National Hospital Abuja (NHA) as the Nigerian Medical Association (NMA) FCT Branch threatens an indefinite strike following the controversial dismissal of three medical doctors. According to insider sources, the crisis is unfolding under the leadership of Dr. Mahmud Raji, the Chief Medical Director (CMD), who is alleged to be using his office to intimidate these doctors—believed to have been targeted because of their opinions. This disturbing allegation has intensified outrage within the medical community, raising serious concerns about fairness, professionalism, and ethnic bias within the healthcare system.

In what is fast becoming a major flashpoint in Nigeria’s embattled healthcare sector, the Nigerian Medical Association (NMA) FCT Branch has issued a 14-day strike ultimatum to the management of National Hospital Abuja over the controversial and unexplained disengagement of three medical doctors who have served the hospital diligently for years.

In a strongly worded notice dated June 11, 2025, following its Ordinary General Meeting (OGM) held at the VIP Hall of the Federal Medical Centre Abuja, the NMA FCT leadership formally communicated its dissatisfaction with the National Hospital’s refusal to reinstate its disengaged members. The affected doctors, who completed their residency training in 2020, were appointed as locum consultants in March 2022 after working as post-Part II fellows. After three years of dedicated service, they were abruptly dismissed without any stated reason—unlike their contemporaries who remain in service. The hospital only stated that “their services were no longer needed” and advised them to reapply when vacancies arise.

The association described the move as selective victimisation and scapegoating, pointing out that 30 doctors were employed under similar terms, yet only three were let go. Multiple advocacy efforts—including visits from the NMA President, FCT Chairman, and a committee of senior, reputable medical professionals—have all been ignored by the hospital’s leadership.

The NMA expressed deep frustration that despite its peaceful engagement efforts, the hospital remained unmoved, even in the face of the ongoing “japa” wave—mass migration of medical professionals abroad—leaving Nigeria’s healthcare system dangerously understaffed.

“This disengagement worsens an already fragile system, adding to the mental and economic burdens of doctors, increasing anxiety and threatening family stability,” the NMA noted in its communiqué.

The association has now declared that if the doctors are not reinstated, members at National Hospital Abuja will embark on a total and indefinite strike from June 30, 2025, following a two-week warning strike from June 15–29. If after seven days of this action no resolution is achieved, the entire NMA FCT branch will join the strike in solidarity.

Investigations within the hospital revealed that the affected doctors had no records of disciplinary actions or professional misconduct. Their Heads of Department (HODs) had recommended them for continued service, and it was confirmed that they were already on the IPPIS scale, meaning they posed no additional financial burden to the hospital.

The outrage is further fueled by the irony that, while NMA is pushing for an increase in doctors’ retirement age to 70 due to acute personnel shortages, National Hospital is disengaging young, skilled doctors who chose to remain in Nigeria instead of seeking better opportunities abroad. “Are we saying NHA has enough specialists to let go of such committed professionals?” the association questioned.

Doctors familiar with the affected doctors shared personal testimonies: “I worked with Dr. Fernandez during the COVID-19 pandemic. We carried out countless caesarean sections when fear was palpable. Only a doctor with heart would do that. Is this how the system rewards bravery?”

Emotionally charged reactions have poured in from across the country. A senior doctor lamented: “It’s difficult to believe that doctors would ignore juicy offers abroad to make the sacrifice of practising in Nigeria, only to be treated like trash for speaking up on poor welfare. How do you keep a doctor as locum for 3 years, earning barely ₦400,000, and expect them to live a dignified life? This is the reward for years of service?”

He added that the refusal of the hospital to heed the advice of the NMA President and respected elders “is deeply worrisome” and raises concerns of possible hidden motives.

The broader concern is that this crisis could demoralize others in the system. “We are already overwhelmed, underpaid, and understaffed, yet our sacrifices are ignored,” the doctor continued. “Meanwhile, national honours are reserved for political loyalists, while real heroes are discarded.”

He appealed to the NMA and well-meaning members to establish a financial support plan for the affected doctors, who have now been unpaid for three months, pushing them to the brink emotionally and economically.

In his final remarks, he called for unity: “All hands must be on deck to preserve the Hippocratic brotherhood we swore to uphold. A brother should not snuff the life out of another. This is not the future we envisaged. We must fight to leave a better one for the next generation.”

As the clock ticks toward June 30, the healthcare sector in the FCT braces for what may become one of the most consequential strikes in recent years—one born not just from policy failure, but from a cry for justice, equity, and professional dignity.

The NMA is also using this opportunity to call on the Minister of Health, Dr. Muhammad Ali Pate, to urgently intervene before the situation escalates further. At a time when the country is grappling with critical challenges in the healthcare sector—and the President is actively working to reverse the “japa” trend and restore stability through the Renewed Hope Agenda—it would be deeply unfortunate for such avoidable crises to undermine those efforts. Supporting doctors who have chosen to remain in Nigeria is essential to rebuilding trust and encouraging others, both at home and abroad, to return and contribute to the nation’s healthcare revival.

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BREAKING: Tinubu honours Abiola, Kudirat, Soyinka, Onanuga others in State of the Nation address

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President Bola Ahmed Tinubu has conferred national honours on more than 80 Nigerians—both living and deceased—during his inaugural State of the Nation address in honour of this year’s Democracy Day.

The President, who reeled the names out with other messages while addressing a joint session of the National Assembly to mark 26 years of uninterrupted democratic rule in Nigeria on Thursday, also announced the granting of full pardon to the heroes of the Ogoni Struggle, identified as the Ogoni nine.

The president used the solemn occasion to commemorate key figures in the June 12 pro-democracy movement, notably Chief Moshood Kashimawo Olawale Abiola, his late wife Alhaja Kudirat Abiola, and environmental rights activist Ken Saro-Wiwa.

Alhaja Kudirat Abiola was posthumously awarded the Commander of the Federal Republic (CFR) for her role in resisting military rule, a struggle that ultimately led to her assassination. Tinubu described her as the “heroine of the June 12 struggle.”

Also honoured was the late Major General Shehu Musa Yar’Adua, who received the Grand Commander of the Federal Republic (GCFR), the highest national honour typically reserved for heads of state.

He was recognised for mobilising political resistance to military rule and advancing democratic reforms.

Other posthumous recipients included key figures in Nigeria’s pro-democracy movement: Professor Humphrey Nwosu (CON), who chaired the National Electoral Commission during the 1993 elections; Rear Admiral Ndubuisi Kanu (CON); Pa Alfred Rewane (CFR); Bagauda Kaltho (OON); Chima Ubani (OON); Dr. Beko Ransome-Kuti (CON); Chief Alao Aka-Bashorun (CON); and Chief Frank Kokori (CON), among others.

The list extended to civil rights advocates, journalists, politicians, and unionists who lost their lives in the pursuit of justice and democracy.

Honourees included Emma Ezeazu, Bamidele Aturu, Fredrick Fasehun, Professor Festus Iyayi, Dr. John Yima Sen, Alhaja Gambo Sawaba, Dr. Edwin Madunagu, Dr. Alex Ibru, Chief Bola Ige, Pa Reuben Fasoranti, Senator Ayo Fasanmi, Senator Polycarp Nwite, and Dr. Nurudeen Olowopopo.

In a move described as symbolic of national reconciliation, Tinubu posthumously recognised Ken Saro-Wiwa and his fellow environmental activists known as the Ogoni Nine, who were executed in 1995 under the regime of General Sani Abacha.

Saro-Wiwa was awarded the Commander of the Order of the Niger (CON), while Saturday Dobee, Nordu Eawo, Daniel Gbooko, Paul Levera, Felix Nuate, Baribor Bera, Barinem Kiobel, and John Kpuine were each awarded the Officer of the Order of the Niger (OON).

The President further announced that he would invoke his constitutional powers to grant a full state pardon to the Ogoni Nine and others, whose names will be released following consultations with the National Council of State.

Living icons of democratic activism and intellectual freedom were also celebrated. Nobel Laureate Professor Wole Soyinka was awarded the Grand Commander of the Order of the Niger (GCON), while renowned journalism scholar Professor Olatunji Dare received the Commander of the Order of the Niger (CON).

Related NewsProminent journalists and media pioneers were similarly honoured: Kunle Ajibade (OON), Nosa Igiebor (OON), Dapo Olorunyomi (OON), Bayo Onanuga (CON), Ayo Obe (OON), Dare Babarinsa (CON), and Seye Kehinde (OON).

Among the human rights lawyers and activists honoured were Femi Falana, SAN (CON), Barrister Felix Morka (CON), Barrister Ledum Mitee (CON), and Professor Shafideen Amuwo (CON).

Other notable recipients included Bishop Matthew Hassan Kukah (CON), Senator Shehu Sani (CON), Governor Uba Sani (CON), Senator Tokunbo Afikuyomi (CON), Honourable Labaran Maku (OON), Dr. Tunji Alausa (CON), Mr. Nick Dazang (OON), Hon. Abdul Oroh (OON), Barrister Luke Aghanenu (OON), Odia Ofeimun (CON), Hon. Olawale Osun (CON), Dr. Amos Akingba (CON), and Professor Segun Gbadegesin (CON).

Further commendations went to Professor Julius Ihonvbere, Professor Bayo Williams, Senator Abu Ibrahim, Professor Bolaji Akinyemi, Dr. Kayode Shonoiki, and Senator Ameh Ebute, who were also recognised with honours ranging from Commander to Grand Commander of the Federal Republic.

Veteran journalist and Vanguard Newspapers founder Uncle Sam Amuka Pemu was honoured with a Commander of the Order of the Niger (CON), a day before his 90th birthday.

President Tinubu also formally decorated the current presiding officers of the National Assembly, who had previously received national honours:

Senate President Godswill Obot Akpabio (GCON)

Speaker of the House of RepresentativesTajudeen Abbas (GCON)

Deputy Senate President Barau Jibrin (CFR)

Deputy Speaker Benjamin Kalu (CFR)

“The honours were not just symbolic, but a national acknowledgment of those who defended truth, fought repression, and expanded Nigeria’s democratic space”, Tinubu said.

He called on Nigerians, particularly political leaders, to uphold the values of the June 12 movement in their actions and policies.

“We must rededicate ourselves to the ideals of June 12: freedom, transparent and accountable government, social justice, active citizen participation, and a just society where no one is oppressed”, he said.

President Tinubu concluded his address with a call for national reflection and progress, urging the country to move beyond symbolic recognition and build a future anchored on the sacrifices of past heroes.

 

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