Magu under fresh fire

• Dogara complains of Nigeria’s suspension from EGMONT Group

The embattled acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has come under fresh condemnation over Nigeria’s suspension from the Egmont Group.

Earlier, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, had accused Magu of being responsible for Nigeria’s suspension from the global anti-corruption group over his ambition not to allow the autonomy of the Nigerian FinancialAntiIntelligence Unit (NFIU) in the amendment of the EFCC Act by the National Assembly as prescribed by the Group. The Justice Minster had chided Magu that the suspension affects the credibility of the anti-corruption war in Nigeria under his leadership.

Again, The Speaker of the House of Representatives, Right Honourable Yakubu Dogara, has joined the AGF in acknowledging that Nigeria’s suspension from the Egmont Group came is a rude shock, noting that All Progressives Congress (APC) government is committed to the fight against corruption. Dogara had remarked that the suspension is a major setback to the Federal Government’s fight against corruption.

It is, however, not indicated whether the House leadership will apply any sanction but the Speaker assured the House will do what is required to get Nigeria out of the suspension, including cutting Magu’s wing and power greed.

Hosting the Director-General of Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), a unit of the Economic Community of West African States (ECOWAS), Adama Coulibaly, accompanied by the Director of the Nigeria Financial Intelligence Unit, (NFIU). Francis Usani, in his office, the Speaker disclosed that the National Assembly is working towards ensuring that Nigeria is reabsorbed into the group within the shortest time possible.

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“No nation can survive as an island; it will take the collective cooperation by agencies in different countries to combat both terrorism and corruption, and, unfortunately, we are facing the two in Nigeria, with Boko Haram violence in the North East.

“It is impossible to fight terrorism and corruption without strong legal framework,” Dogara declared.

He indicated that two bills on anti-terrorism and anti-money laundering and mutual assistance on reparation of corruption proceeds pending before the House will soon be passed into law.

He explained that the House is yet to pass the bill seeking to grant total autonomy to the NFIU, as forwarded from the Senate, because there is the need to meet with key stakeholders and players, to know their expectations so as to avoid Nigeria’s expulsion from the group.

Interestingly, the issue that led to Nigeria’s suspension is till before the House of Representatives, it is anticipated that since the Senate had endorsed the autonomy of the NFIU, the House can only complement that legislation despite Magu’s objection, and get the country out of suspension.

Coulibaly had earlier said he came to Nigeria on advocacy visit, on the hosting of GIABA statutory meetings slated for November, in Nigeria, and to assess Nigeria’s application to join the Financial Action Task Force, FATF.

The Egmont Group of Financial Intelligence Units is an informal network of 156 Financial Intelligence Units FIUs, which collect information on suspicious or unusual financial activity from the financial industry and other entities or professions required to report transactions suspected of being money laundering or terrorism financing.

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