How Efcc boss magu and minister of Justice Malami clash over sale of seized assets

How Efcc boss magu and  minister of Justice Malami clash over sale of seized assets

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Fresh facts have emerged on the alleged sale of forfeited assets by the office of the Attorney General of the Federation and the Economic and Financial Crimes Commission which pitted the two government institutions against each other.

Investigations by one of our correspondents revealed that the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), and the suspended EFCC Acting Chairman, Ibrahim Magu, at different times gave separate authorisations for the sale of seized assets.

Rather than harmonise the disposal of assets forfeited by alleged looters and other individuals arraigned on charges of financial and cyber crimes, findings indicated that their respective offices had separately invited auctioneers to bid for the sale of luxury homes, cars, trucks, sea vessels, crude oil and other valuables running into billions of naira.

The Ministry of Justice and the EFCC had placed several auction notices in the Federal Tenders Journal and other media inviting the public for auction sales of some seized assets.

In February 2018, for instance, the ministry placed an advertisement inviting auctioneers, marine engineers, valuers and consultants for valuation and disposal of vessels, ships, boats, trucks, vehicles and petroleum products. The notice was placed on a subscription-based online portal punch..

The ministry hinged the move on the decision of the Federal Government  to “clear its territorial waters, ports, dockyards, agency offices/stations and highways of obsolete and unauthorised vessels, barges, boats, ships, trucks, vehicles and the cargo in furtherance of National Security of the Federation and recovery of its assets policy.”

On December 19, 2019, the anti-graft agency auctioned 244 trailers and tankers forfeited to the Federal Government by illegal oil dealers. Eleven auctioneers participated in the bid.