₦1.66tn Assets Recovered From Maina Re-Looted By The EFCC – Witness

On Thursday, a witness, Ngozika Ihuoma, told the Federal High Court in Abuja, that the Economic and Financial Crimes Commission (EFCC), under its former boss, Ibrahim Magu, mismanaged 222 assets worth of ₦1.66tn.

The money was recovered by the defunct Pension Reform Task Force Team.

Ihuoma appeared as the first defense witness in the ongoing trial of the former Chairman of the disbanded PRTT, Abdulrasheed Maina.

The witness told the court that Magu admitted before the Justice Ayo Salami judicial Commission of Inquiry that he shared most of the properties based on the 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.

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According to the witness, he was a management consultant.

He added that 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 undervalued grossly from N6bn in 2011 and sold to a renowned lawyer in 2015 for N1bn.

“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.