How Magu used a pastor to launder funds, purchase posh mansion in Dubai

0
272
launder funds

How Magu used a pastor to launder funds, purchase posh mansion in Dubai

The Presidential Committee on Audit of Recovered Assets (PCARA) says Ibrahim Magu, suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), allegedly used a cleric to launder funds abroad, reports TheCable Newspaper.

Magu is currently being interrogated by a panel headed by Ayo Salami, former president of the appeal court.

He has been accused of not being transparent in managing assets recovered by the commission.

In the report of the PCARA, which probed the federal government assets recovered by the EFCC from May 2015 to May 2020, one Emmanuel Omale, a pastor at Hand of God Prophetic Ministry, was said to have been used by Magu to launder funds.

Omale’s name was reportedly uncovered during an investigation on EFCC’s activities by the Nigeria Financial Intelligence Unit (NFIU).

According to the report, the cleric bought a landed property worth N573 million in Dubai, United Arab Emirates, on behalf of Magu.

“Another individual who is helping in laundering funds for the Acting Chairman and who has been referred to in several petitions is one Pastor Emmanuel Omale (Hand of God Prophetic Ministry),” the report read.

“He is reported to have travelled to Dubai with Mr Magu and his name was used in purchasing property in Dubai for Mr Magu.

“As an unknown pastor, the NFIU’s report showed huge movement of funds ranging from N573,228,040.41.”



Add 0802 030 1137 to receive SKYTREND NEWS alerts on whatsApp;
For adverts enquiries, call or whatsapp 0802 030 1137,
Send Articles & News Stories To editor@skytrendnews.com.

READ ALSO! Skytrend Consulting: Financial services and accounting solutions company

READ ALSO! Why The North Remains Headquarters Of Poverty In Nigeria — Kingsley Moghalu

READ ALSO! For failing to give out ‘adequate loans’, 12 banks fined N499bn

READ ALSO! Nigerian Central Bank Approves Disbursement Of Loans For Creative Industries At 9%

READ ALSO! How To Empower Yourself And Generate Income From Mutual Funds

READ ALSO! Is N-Power Truly Empowering Nigerian Youths?

READ ALSO! TraderMoni: Poverty Alleviation Or Political Leverage?