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Nigeria News – NFIU vandalised as N510bn is traced to BDC ‘with links to Magu’

Nigeria News – NFIU vandalised as N510bn is traced to BDC ‘with links to Magu’

Nigeria News –

The workplaces of the Nigerian Financial Intelligence System (NFIU) were vandalised on Thursday night after the presidential panel probing Ibrahim Magu asked for the transaction history of a Kaduna-based bureau de change (BDC), sources acquainted with the examination have told TheCable.

The panel was told that the BDC, which allegedly has links to the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), has just recently transacted services worth over N500 billion in different currencies– N336 billion, $435 million and EUR14 million.

However, there was a twist in the tale when the panel asked that the deal history of the BDC be made available by NFIU, the main national agency that manages disclosures and intelligence in the financial sector.

Its workplaces were then vandalised, requiring members of the panel to look for audience with President Muhammadu Buhari, who immediately authorized the suspension of Magu from workplace and the overhaul of EFCC security personnel to avoid disturbance with the examinations.

Magu had actually been suspended by Abubakar Malami, the attorney-general of the federation, because Monday with the tacit approval of Buhari however it was not formally announced.

There is an unsolved controversy on the extent of the supervisory powers of the AGF over the EFCC– which is one of the grievances Malami listed in his memo to the president– however Buhari’s approval has actually lastly sealed Magu’s fate.

The panel, led by Ayo Salami, previous president of the court of appeal, was also told that an unknown Lagos-based pastor who is extremely near to Magu has N573 million in his bank account.

The pastor will be invited and questioned by the panel, TheCable found out.

Magu was jailed on Monday by a combined team of authorities of the Department of State Services (DSS) and force criminal investigation department (FCID) after failing to honour 2 invitations from the panel.

He has actually been detained since then and the cops authorities on Thursday withdrew his security.

Magu is a commissioner of police by rank.

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