The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has revealed that the funds looted by former Minister of Petroleum Resources, Diezani Allison-Madueke could be used to keep the nation’s economy rolling if recovered.
Magu, who stated this, while receiving the “Institution of the Decade” award on behalf of the EFCC at the awards ceremony organised by Thisday Newspaper to mark its 25th anniversary at the Eko Hotels and Suites, Victoria Island, Lagos, also decried the refusal of the United Kingdom (UK), to extradite Allison-Madueke, to face trial for alleged money laundering in Nigeria.
In a statement issued by the Acting Head of Media and Publicity of the commission, Tony Orilade, the EFCC boss disclosed that the anti-graft agency had sufficient evidence to prosecute Allison-Madueke for the alleged financial malfeasance she committed while in office.
The looted funds, traced to Allison-Madueke and others, he noted, could be used to keep the wheel of the nation’s economy
“We don’t want to keep chasing everybody as a suspect. We want everybody who has stolen from the commonwealth to bring it back to Nigeria, so as to use the monies to provide the needed infrastructure,” he stated, disclosing that the commission would build more detention facilities and open additional zonal offices so as to bring the anti-corruption fight nearer home to the people.
Though Magu did not state the exact infrastructure or facilities of the economy Madueke’s looted funds can revive or build, the Buhari Media Support Group (BMSG) in August 2017 alleged that the stolen funds could fund infrastructure development in the country.
The group in a statement by its Chairman, Austin Braimoh, and Secretary, Cassidy Madueke, said that government could build six world-class airports in each geo-political zone with part of the funds.
It said that the recovered loot was also enough to have funded agricultural projects that would have generated employment for Nigerian youths.
It added that the N47.2 billion and 487.5 million dollars in cash and property traced to Alison-Madueke by the EFCC were also enough to complete the Lagos-Kano and Lagos-Calabar rail lines.