British Prime Minister Theresa May on Friday announced in an emotional address that she will step down as Conservative leader on June 7 after failing to persuade MPs to support her Brexit deal.
“It is and will always remain a matter of deep regret to me that I have not been able to deliver Brexit,”May, her voice breaking with emotion, said in a statement outside her Downing Street residence.
The resignation will signal the formal start of a leadership contest during which May would remain as caretaker prime minister.
“I will resign as leader of the Conservative and Unionist Party on Friday, 7th June,” May said.
“The process for electing a new leadership should begin in the following week,” she said.
The leadership race is expected to take several weeks.
Magu Re-Looted Interest On ₦550 Billion — Report
A presidential panel that Investigated the Economic and Financial Crimes Commission’s handling of recovered loot, has “seriously indicted” the acting chairman of the commission, Ibrahim Magu, the News Agency of Nigeria reported Saturday.
Mr Magu was arrested on Tuesday and has since then been interrogated by a panel headed by retired Justice Ayo Salami on allegations of mismanagement and lack of transparency in managing recovered assets by the commission.
He was later suspended and has remained in custody since then.
In his first public reaction to the Magu case, President Muhammadu Buhari on Saturday said there were serious allegations of fraud against the EFCC chief, and the administration acted after a preliminary review of the accusations.
“There is no better indication that the fight is real and active than the will to investigate allegations in an open and transparent manner against those who have been charged to be custodians of this very system,” the president said through his spokesperson, Garba Shehu.
Citing the report of the Presidential Committee on Audit of Recovered Assets inaugurated by President Muhammadu Buhari in 2017, the state-owned news agency, NAN, said there was a revelation how interests on N550 billion recovered by the EFCC in the period under review was allegedly re-looted.
NAN said the panel’s report that covered the period of May 29, 2015, to Nov. 22, 2018, also confirmed the concerns of the public about contradictory recovery figures emanating from Mr Magu.
“It is quite disturbing that conflicting figures are being circulated in the public space by EFCC as the amount of recovered funds,” it quoted the report as saying.
“For Foreign currency recoveries, EFCC reported a total naira equivalent of N46,038,882,509.87, while the naira equivalent of the foreign currency lodgments were N37,533,764,195.66, representing a shortfall of N8,505,118,314.21.
“These inconsistencies cast a serious doubt on the accuracy of figures submitted by the EFCC. It is the committee’s view that the EFCC cannot be said to have fully accounted for cash recoveries made by it.
“While EFCC reported total Naira recoveries of N504,154,184,744.04, the actual bank lodgments were N543,511,792,863.47. These discrepancies mean that EFCC’s actual lodgment exceeded its reported recoveries by N39,357,608,119.43.
“It must be pointed out that the discrepancy of more than thirty nine billion naira does not include interest accrued in this account since it was opened.
“It therefore cast serious doubt on the credibility of the figures and means that substantial amount of money has not been accurately accounted for.
“Failure to report on the interest on actual lodgments clearly establishes that interest element of over N550 billion has been re-looted relating to the period under review.
“This is an apparent case of manipulation of data in a very brazen and unprofessional manner and this has greatly eroded the public confidence in the anti-corruption efforts,’’ the report stated in part.
NAN also reports that the report revealed how the investigative reports on EFCC’s activities by the Nigeria Financial Intelligence Unit (NFIU) exposed acts of corruption and money laundering against some EFCC officials, including Mr Magu.
“The NFIU reports established that the Acting Chairman has been using different sources to siphon money from the EFCC, and in some cases collecting bribes from suspects.
The report said a particular Bureau de Change linked to the Acting Chairman based in Kaduna has more than 158 accounts and has been receiving huge sums of funds.
It also said N28 million was paid to a senior lawyer who is a close associate of the Acting Chairman.
NAN reports that the Salami probe panel is expected to continue sitting on Monday while Mr Magu’s lawyer, Oluwatosin Ojaomo, had on Friday applied for an administrative bail for his client, who is facing corruption and other charges before the panel.
Magu Used ‘Pastor’ To Buy ₦573 Million Property In Dubai — Report
A report by the Presidential Probe Panel has revealed details of how the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, allegedly used a cleric to launder funds abroad.
The News Agency of Nigeria (NAN) reports that Magu is currently being interrogated by the panel headed by retired Justice Ayo Salami over allegations of mismanagement and lack of transparency in managing recovered assets by the commission.
A copy of the report made available to NAN on Saturday in Abuja said one Pastor Emmanuel Omale of Hand of God Prophetic Ministry was used by Magu in laundering the funds.
Omale’s name was uncovered through an investigative report on EFCC’s activities by the Nigeria Financial Intelligence Unit (NFIU), and mentioned in the final report of the Presidential Committee on Audit of Recovered Assets (PCARA).
According to the report, the unknown clergy is alleged to have bought a landed property on behalf of Magu worth N573 million in Dubai, United Arab Emirate.
“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).
“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,’’ the report said.
NAN also gathered that efforts had been intensified to expose the real identity of the Pastor with a view to arraigning him for prosecution, if found culpable.
On the Diezani Alison Madueke case, the PCARA Report accused Magu of failure to cooperate with authorities in the United Kingdom to facilitate effective prosecution of the case.
“In the Diezani Alison Madueke case, the Acting Chairman is failing to further cooperate with the UK NCA to enable them charge the Former Minister to court in the UK.
“The Acting Chairman despite his knowledge that Mrs Madueke will not be extradited to Nigeria until after her trial in the UK, has consistently been accusing the UK government on the pages of print and electronic media of not wanting to extradite her to Nigeria,’’ the report maintained.
Magu was also accused of deliberately refusing to provide documentary evidence that would make the office of the nation’s Attorney-General to commence the extradition process of Diezani Madueke.
“This has strained the EFCC relationship with Europe most strategic partner,’’ the report further observed.
NAN reports that Magu, who is being held at the Police headquarters, Abuja, is expected to reappear before the Salami probe panel on Monday, to defend himself against several allegations.
Nigeria’s AGF, Malami Buys N300m Mansion For Newlywedded Son; Social Distancing Guidelines Flouted During Lavish Wedding
Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami (SAN) has purchased a N300m mansion in Abuja as a gift to his son who recently got married, Sahara Reporters reliably gathered.
The online news platform reports that Malami’s son, Abdul Aziz, who graduated from a university in Cyprus in 2018, is known among his circle to lead a flamboyant lifestyle purportedly fuelled by public funds at the disposal of his father, who remains one of the most powerful and influential figures in the administration of President Muhammadu Buhari.
It was also reported by SR that guests at the wedding ceremony of Abdul Aziz, were seen in a video of the pomp occasion dancing and communicating close to one another without wearing face masks while spraying wads of US dollars and naira notes on the newly married couple, in clear violation of the Nigeria Centre for Disease Control (NCDC) directive on social distancing as a result of the COVID-19 outbreak in the country.
Recall that part of the NCDC guidelines forbids social events like weddings where there are more than 20 persons in attendance.
But the video of the ceremony published by SaharaReporters on Friday clearly showed more than the stipulated number of persons at that ceremony.
Also, the open spraying of wads of cash at the event violates the Central Bank of Nigeria’s rule, which forbids anyone from abusing the naira by spraying and stepping on them in public.
Despite breaking the law in these regards, notwithstanding the fact he is Nigeria’s chief law officer, findings by SaharaReporters revealed that Malami had already made arrangements for a sizeable number of private jets to fly dignitaries from Abuja, Kano and Lagos to Kebbi State on Saturday for the second leg of the wedding where more display of opulence and gross disregard for the NCDC guidelines are expected to be showcased.
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