Finance Minister, Adeosun Explains Why She Wrote Magu Over Recovered Loots

Minister of Finance, Kemi Adeosun has explained why she wrote a letter to the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, seeking clarification on loots recovered by the agency.

Adeosun had earlier in a letter dated February 9 asked Magu to provide more information on recovered loot, noting that there were conflicting figures in the figures.

Explaining further why the letter was sent, the Minister said the contents of the letter were misrepresented noting that it was a “standard letter aimed at improving controls over the recovered funds.”

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Adeosun in a statement signed by her Special Adviser on Media and Publicity, Oluyinka Akintunde, on Sunday said there was no ulterior motive behind the letter.


“There is no ulterior motive behind the letter as alleged in some media reports but to enable the reconciliation and harmonisation of the figures on recovered funds by the Government.

“For the avoidance of doubt, the EFCC has subsequently provided the requested information and reconciliation is ongoing,” the statement read in part.

Adeosun in the letter in the February 9 letter addressed to Magu notified him of the records of cash asset recoveries in the custody of the EFCC from May 2015 till date based on information available to the office of the Accountant General of the Federation (attached).

She said the use of recovery figures in media reports by the EFCC do not reconcile with the records of the ministry.


Written by PH

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