Opinion
Magu’s Saga: Beyond The Facts
The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, was last month recommended for removal from office by the Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN) over alleged diversion of recovered loots, insubordination and others. Malami in the memo to President Muhammadu Buhari listed three names for possible replacement of Ibrahim Magu alongside his alleged atrocities.
A critical look at the litany of alleged offences will rather make one conclude that a high-wired politics is in motion to achieve a coded objective beyond the ‘watery’ indictment for removal of Magu from office. The pertinent question demanding answers is; does the country need the brouhaha if it is not to move the nation forward but merely for political motives? This is a period when schools have been under lockdown over the Covid-19 pandemic; many have lost their jobs; economy has been under coma and private businesses are struggling to survive.
Prominent and most ridiculous among the allegations is that the AGF, Malami, accused the EFCC boss of disclosing a total naira recovery of N504 billion but lodged N543 billion in the Recovery Account with the Central Bank of Nigeria (CBN). In the first place, did we complain that we got a deposit higher than what was declared? I believe the treasury too needs such a positive ‘discrepancy’ instead of the other way round which is common since independence.
By the discrepancy, it means the amount lodged in CBN Recovery Account which Magu cannot access after deposit exceeded the alleged disclosed figures by N39 billion. Without a doubt, it amounts to discrepancy but a positive one as the amount deposited in the treasury exceeded the amount possibly presented in a press briefing or in any other forum. The question is; is this a negative record to accuse Magu of re-looting the looted funds for having excess funds in the treasury than declared at a time?
Sensibly, it would only demand investigation if the deposited amount in the CBN Recovery Account is less than the declared amount and not as it presently stands. Except there is evidence that the total recovered amount exceeded the N543billion deposited in the treasury. It is also important to note that even the President cannot access the money in the CBN without the record reflecting it. Thus, the allegations vis-à-vis the recovered loot lack merit.
Other grounds in the memo to the president in which Malami anchored his recommendation are insubordination and misconduct which could be handled by the presidency without public knowledge. Hence, needless to interfere in the affairs of the presidency. The Chief of Staff to the President, Prof Ibrahim Gambari, as an experienced diplomat convincingly knows how to resolve such conflicts among the President’s appointees.
Also in the grounds are; alleged discrepancies in the reconciliation records of the EFCC and the Federal Ministry of Finance on recovered funds; not providing enough evidence for the extradition of ex-Minister of Petroleum Resources, Diezani Alison-Madueke; alleged late action on the investigation of Process and Industrial Development (P&ID) leading to legal dispute, and not respecting court order to unfreeze a N7billion judgment in favour of a former Executive Director of First Bank.
Others are alleged delay in acting on two vessels seized by Nigerian Navy leading to the loss of crude; favouring of some investigators called Magu’s Boys; reporting some judges to their presiding officers without deferring to the AGF; alleged sale of seized assets to cronies, associates and friends, and alleged issuance of investigative activities to some media prejudicial to some cases.
Of course, as stated earlier, other allegations are issues for the Presidency to look into but not as weighty as the alleged diversion of recovered loots merely on account of the discrepancy between the amounts deposited and declared. The good point in the story is that the recovered loots are intact and not tampered with except there is a record to establish it.
The pertinent question is; what are they investigating? That amount deposited with the CBN exceeded the amount EFCC earlier declared? So, should Magu be asked to take over the excess deposit?
Although other allegations are also important but the only charge that can lead to removal of Magu from office as EFCC boss is meddling or diversion of recovered loots which AGF in the ‘picture’ didn’t show forth. Malami, ironically, painted Magu as a ‘good samaritan’.
In conclusion, if the plot is a prelude to initiate another move for Magu’s confirmation by the Senate, if he has not been found wanting particularly in re-looting our recovered loots, he should be confirmed as the EFCC chairman rather than with this expensive drama. The country has numerous challenges facing it and therefore the polity cannot be subjected to such distractions. If Magu has benefitted in any way from the recovered loots or abused his office in anyway, let him face the music. Otherwise, let’s not unconsciously blackmail the nation in the eye of the international community.
Finally, the media on Monday accurately reported that Magu was arrested but authorities denied it including the anti-graft agency. Later, it was confirmed that Magu was detained overnight. Could someone be detained without arrest, a question begging for an answer? The action portrayed the nation’s media industry as undependable. Meanwhile, the report was accurate. Government cannot be involved in destroying the media for whatever reasons.
As it stands, Magu may if not found culpable be reinstated. Buhari’s administration will equally score a goal for entrenching a prominent democratic principle vis-à-vis rule of law that ‘nobody is above the law’. Ultimately, the media industry lost in the game for the ‘inconsistency’ in the reports of ‘Magu arrested’ and later, a disclaimer that he wasn’t arrested. But eventually, he was arrested whether by ploy or seriousness.
Umegboro is a public affairs analysts.
Carl Umegboro
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Empowering Youth Through Agriculture
Quote:”While job seeking youths should continuously acquire skills and explore opportunities within their immediate environment as well as in the global space through the use of digital platforms, government, corporate/ multinational organizations or the organised private sector should generate skills and provide the enabling environment for skills acquisition, through adequate funding and resettlement packages that will provide sustainable economic life for beneficiaries”.
The Governor of Rivers State, Sir Siminalayi Fubara, recently urged youths in the Rivers State to take advantage of the vast opportunities available to become employers of labour and contribute meaningfully to the growth and development of the State. Governor Fubara noted that global trends increasingly favour entrepreneurship and innovation, and said that youths in Rivers State must not be left behind in harnessing these opportunities. The Governor, represented by the Secretary to the State Government, Dr Benibo Anabraba, made this known while declaring open the 2026 Job Fair organised by the Rivers State Government in partnership with the Nigeria Employers’ Consultative Association (NECA) in Port Harcourt. The Governor acknowledged the responsibility of government to create jobs for its teeming youth population but noted that it is unrealistic to absorb all job seekers into the civil service.
“As a government, we recognise our duty to provide employment opportunities for our teeming youths. However, we also understand that not all youths can be accommodated within the civil service. This underscores the need to encourage entrepreneurship across diverse sectors and to partner with other stakeholders, including the youths themselves, so they can transition from being job seekers to employers of labour,” he said. It is necessary to State that Governor Fubara has not only stated the obvious but was committed to drive youth entrepreneurship towards their self-reliance and the economic development of the State It is not news that developed economies of the world are skilled driven economies. The private sector also remains the highest employer of labour in private sector driven or capitalist economy though it is also the responsibility of government to create job opportunities for the teeming unemployed youth population in Nigeria which has the highest youth unemployed population in the subSahara Africa.
The lack of job opportunities, caused partly by the Federal Government’s apathy to job creation, the lack of adequate supervision of job opportunities economic programmes, lack of employable skills by many youths in the country have conspired to heighten the attendant challenges of unemployment. The challenges which include, “Japa” syndrome (travelling abroad for greener pastures), that characterises the labour market and poses threat to the nation’s critical sector, especially the health and medical sector; astronomical increase in the crime rate and a loss of interest in education. While job seeking youths should continuously acquire skills and explore opportunities within their immediate environment as well as in the global space through the use of digital platforms, government, corporate/ multinational organizations or the organised private sector should generate skills and provide the enabling environment for skills acquisition, through adequate funding and resettlement packages that will provide sustainable economic life for beneficiaries.
While commending the Rivers State Government led by the People First Governor, Sir Siminilayi Fubara for initiating “various training and capacity-building programmes in areas such as ICT and artificial intelligence, oil and gas, maritime, and the blue economy, among others”, it is note-worthy that the labour market is dynamic and shaped by industry-specific demands, technological advancements, management practices and other emerging factors. So another sector the Federal, State and Local Governments should encourage youths to explore and harness the abounding potentials, in my considered view, is Agriculture. Agriculture remains a veritable solution to hunger, inflation, and food Insecurity that ravages the country. No doubt, the Nigeria’s arable landmass is grossly under-utilised and under-exploited.
In recent times, Nigerians have voiced their concerns about the persistent challenges of hunger, inflation, and the general increase in prices of goods and commodities. These issues not only affect the livelihoods of individuals and families but also pose significant threats to food security and economic stability in the country. The United Nations estimated that more than 25 million people in Nigeria could face food insecurity this year—a 47% increase from the 17 million people already at risk of going hungry, mainly due to ongoing insecurity, protracted conflicts, and rising food prices. An estimated two million children under five are likely to be pushed into acute malnutrition. (Reliefweb ,2023). In response, Nigeria declared a state of emergency on food insecurity, recognizing the urgent need to tackle food shortages, stabilize rising prices, and protect farmers facing violence from armed groups. However, without addressing the insecurity challenges, farmers will continue to struggle to feed their families and boost food production.
In addition, parts of northwest and northeast Nigeria have experienced changes in rainfall patterns making less water available for crop production. These climate change events have resulted in droughts and land degradations; presenting challenges for local communities and leading to significant impact on food security. In light of these daunting challenges, it is imperative to address the intricate interplay between insecurity and agricultural productivity. Nigeria can work toward ensuring food security, reducing poverty, and fostering sustainable economic growth in its vital agricultural sector. In this article, I suggest solutions that could enhance agricultural production and ensure that every state scales its agricultural production to a level where it can cater to 60% of the population.
This is feasible and achievable if government at all levels are intentional driving the development of the agricultural sector which was the major economic mainstay of the Country before the crude oil was struck in commercial quantity and consequently became the nation’s monolithic revenue source. Government should revive the moribund Graduate Farmers Scheme and the Rivers State School-to-Land agricultural programmes to operate concurrently with other skills acquisition and development programmes. There should be a consideration for investment in mechanized farming and arable land allocation. State and local governments should play a pivotal role in promoting mechanized farming and providing arable land for farming in communities. Additionally, allocating arable land enables small holder farmers to expand their operations and contribute to food security at the grassroots level.
Nigeria can unlock the potential of its agricultural sector to address the pressing needs of its population and achieve sustainable development. Policymakers and stakeholders must heed Akande’s recommendations and take decisive action to ensure a food-secure future for all Nigerians.
By: Igbiki Benibo
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