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Banks creating fertile ground for corruption —Magu

Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, Tuesday accused banks of aiding corruption, saying “banking sector is creating a fertile ground for corruption”.


He said it was unfortunate that some banks encourage looting by creating an “enabling environment” for it.

Speaking during an interactive session with the commission’s external lawyers and civil society organisations in Lagos, Magu said it was as if the banks were telling looters: “Go and steal and I’ll hide it for you,” which he said must stop.

“We’ll zoom in on the banks. We need to stop them from creating an enabling environment for corruption to thrive,” he said.

Speaking with newsmen on whether the commission would invite wife of former President Goodluck Jonathan, Patience, for questioning over the $15,591,700 she claims belongs to her, Magu said investigation was ongoing.

“We are on it. You see, we work for the long-term. We must complete out preliminary investigations before we come out,” he said.

Magu told the forum that EFCC sometimes spends up to nine months investigating a case before inviting suspects for questioning, adding that no one who has stolen public funds would be spared.

“We’ll not spare anybody. We can’t protect anyone from answering to the people. Determination is key. I believe we’ll go a long way, and that our tomorrow will be better than our today,” he said. The EFCC Chairman said the commission did not characterise all lawyers as “rogues”, saying the statement was misinterpreted.

According to him, just as there were bad eggs within the EFCC, there were also corrupt lawyers. “We can’t just come out and condemn people,” he said.

Magu said EFCC has begun an in-house cleansing to weed out corrupt staff.

“You need to be here to know that corruption is fighting back. Corrupt people have people on their payroll. They have easy money. We’re very serious, so we want to cleanse the inside,” he said.

Executive Director, Coalition Against Corrupt Leaders (CACOL), Mr Debo Adeniran, urged the commission to invite Mrs Jonathan for questioning.

According to him, the law empowers the commission to question anyone who lives above their means as to how they came about their wealth.

Lagos lawyer Wahab Shittu, who also serves as EFCC’s external counsel, said the war against corruption cannot be fought by the commission alone. He urged Nigerians to support EFCC.

“EFCC is our collective enterprise. If it fails, all of us have failed. Corruption hurts us all. So, fighting it should be a collective responsibility,” he said.

National President, Committee for the Defence of Human Rights, Mr Malachy Ugwummadu, said there was a growing concern about EFCC’s respect for the rule of law. He urged the commission to look into it.

A c t i v i s t - l aw y e r, Jiti Ogunye urged the commission to be careful about issuing sensitive statements, such as the one issued ahead of the rescheduled Edo State governorship election saying that Peoples Democratic Party (PDP) candidate, Pastor Osagie Ize-Iyamu, was still under investigation.

He said such statements create the impression that EFCC works primarily in the interest of the party in power.

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