The Senate yesterday for the second time in three months rejected the nomination of Ibrahim Magu as substantive chairman of the Economic and Financial Crimes Commission, not thanks to some governors, senators and high-profile suspects under the anti-graft agency’s radar.
Magu was first denied confirmation by the upper legislative chamber on December 15, 2016.
The grouse of the governors against Magu was EFCC’s ongoing probe of the alleged diversion of N19 billion from the London-Paris Club loan refund.
The Point gathered that seven governors were said to be involved in the scheme to stop Magu at all costs.
It was also learn that some senators resolved to save their colleagues, when they could not elicit a commitment from Magu to ‘find solutions’ to ongoing investigation and trial of 10 members of the upper chamber.
The 10 senators, allegedly led by a former governor from one of the North-East states, specifically asked Magu to terminate their trial by the EFCC, during a meeting held with the EFCC acting boss.
But sources close to the meeting, who pleaded anonymity, said that Magu, however insisted that the law must take its full course.
It was also learnt that Magu’s rejection by the Senate was a product of high level conspiracy, as some high profile suspects, were said to be part of the plot just to pay Magu back in his own coins.
The Point learnt that the N19 billion in question was deducted from the N388.304 billion, part of the N522.74 billion released to 35 states as refund of over-deductions on the London-Paris Club loans.
President Muhammadu Buhari had approved the release of the first tranche of refund, following protests by states against what they called ‘over deductions for external debt service between 1995 and 2002’, pending a final reconciliation of records.
Each state was entitled to a cap of N14.5 billion, which was 25 per cent of the amounts claimed.
The EFCC had however, it was learnt, through intelligence intercepted information on how N19 billion was diverted to the Nigerian Governors Forum accounts and some private accounts.
The Point learnt that “all attempts to prevail on Magu to halt the investigation failed and the governors have no choice than to engage in lobbying to truncate his confirmation.”
The source added, “Although a governor from the North-East did his best to persuade his colleagues to spare Magu, some of the governors vowed not to take the risk.
“At a point, the governors sent emissaries to the acting EFCC chairman, including some government officials, but he did not shift ground.
“The position of the governors was that the Presidency was in the picture of the deductions from the loan refunds, but the EFCC’s probe was seen as an embarrassment to them.
“Before Magu goes after them, they decided to cut him to size. These governors found willing partners in some National Assembly leaders, who were implicated in the loan refund.”
One of the intermediaries in the negotiation between the governors and Magu was quoted as saying, “This chap almost secured confirmation, but he bungled it by probing the loan refund.
“Each time a commitment was secured from him, the more he has been intensifying investigation of the N19 billion. We told him it was a sensitive case.”
It was also learnt that a businessman allegedly interceded for Magu, but he made a u-turn when he was told that he too was under investigation by EFCC over the the loan refund.
The lawmakers, it was learnt were miffed that no fewer than 10 of the senators were either on trial or being investigated by the anti-graft agency.
Another highly-placed source also disclosed that the upper chamber saw the EFCC’s invitation of the wife of the Senate President for interrogation as a desecration of the hallowed chambers of the Senate.
He said, “Despite the fact that Senate President Bukola Saraki, has purportedly forgiven Magu, the questioning of his wife has been a lingering memory. There are always fears that Magu could be more drastic in his action if confirmed.
“And the fears came to fore during the lobbying for confirmation when the Magu refused to yield ground.”
It was also discovered that Peoples Democratic Party senators were also part of the plot because they felt that investigation of corrupt practices by the EFCC tilted towards opposition leaders.
“The ongoing subtle probe of the Senate Minority Leader, Godswill Akpabio and his wife by the EFCC was considered as an affront after Magu had lobbied the PDP Caucus,” The Point further learnt.
It was also discovered that Magu had also stepped on some high profile toes in the course of doing his job, and most of these toes have the wherewithal to stop Magu on his tracks.
Rumours were rife that some high-profile corruption suspects budgeted N2.2 billion to ensure that Magu was not confirmed as substantive head of EFCC.
Yet, a source said, “The problem with Magu is that he has no godfather to fight his cause. And Senate politics is about influence wielding, building contacts and high-wire relationship.”
The Point also learnt that the mutual confidence crisis with President Buhari’s kitchen cabinet and the mutual interagency suspicion between the EFCC and the Department of State Services also contributed to Magu’s ordeal.
A government source disclosed that “Magu has limited contacts in government. His sympathisers are President Buhari, Vice President Yemi Osinbajo, the President’s wife, Hajiya Aisha Buhari, the Secretary to the Government of the Federation, Babachir Lawal, the National Security Adviser, Gen. Babagana Monguno and the Chairman of PACAC, Prof. Itse Sagay, among others.”
On the role of the DSS, the source said, “I think the DSS was uncomfortable with the lack of inter-agency cooperation between it and the EFCC.
“There was a time the DSS advised Magu to stay action on an operation in the South-South, but the EFCC went ahead. It led to mutual suspicion”
