EFCC re-looted 222 assets recovered from Maina, others ― Witness

Published March 5, 2021

Friday Olokor , Abuja

A witness , Ngozika Ihuoma , on Thursday , told a Federal High Court in Abuja , that the Economic and Financial Crimes Commission , under its former acting Chairman , Ibrahim Magu , mismanaged 222 assets worth N 1 . 63 tn .
The money was recovered by the defunct Pension Reform Taskforce Team.
Ihuoma appeared as the first defence witness in the ongoing trial of the erstwhile Chairman of the disbanded PRTT , Abdulrasheed Maina .
He told the court that Magu admitted before the Justice Ayo Salami Judicial Commission of Inquiry that he shared most of the properties based on a presidential directive.
“ Magu admitted before Salami that he shared and allocated most of these properties to his friends , associates and colleagues under some presidential directives , but failed to make available to the commission the evidence of that presidential directive, ” he said.
The witness told the court that he was a management consultant .
He said his firm , Crincad & Cari Nigeria Limited, was contracted by the PRTT for consultancy service .
He told the court that one of the choice properties the PRTT recovered and handed over to the EFCC was grossly undervalued from N 6 bn in 2011 and sold to a renowned lawyer in 2015 for N 1bn .
“ One of the properties in question located at No. 42 Gana Street , Maitama , was illegally acquired by a renowned lawyer while the property was still subject to litigation, ” the witness added , insisting that EFCC should be made to account for all the recovered assets .

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