The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu has revealed that the money stolen between 2011 and 2015 is well over N1.3 trillion.

According to Magu, the money stolen within this period was by 32 entities, both human and corporate.

Magu made the disclosure in his keynote address at the opening ceremony of the 2019 First Batch Conversion Training Programme to Procurement Cadre for Federal Parastatal and Agencies, organised by the Bureau of Public Procurement, BPP, in Lagos on Monday.

Magu, in a paper delivered on his behalf by the Commission’s Secretary, Ola Olukoyede decried the huge financial loss to the country and noted that a quarter of the money could have been used for education and infrastructure development in the country.

“One third of this money, using world bank rates and cost, could have comfortably been used to construct well over 500km of roads; build close to 200 schools; educate about 4000 children from primary to tertiary levels at N25million per child; build 20,000 units of two-bedroom houses across the country and do even more.

“The cost of this grand theft, therefore, is that these roads, schools and houses will never be built and these children will never have access to quality education because a few rapacious individuals had cornered for themselves what would have helped secure the lives of the future generations, thereby depriving them of quality education and healthcare, among others,” he added.

The EFCC boss further identified the fraudulent practices in procurement processes in Nigeria to include: kickbacks, conflict of interests, and fraud in the bidding process, bid suppression, collusive bidding, bid rotation and market division. Others according to him are: co-mingling of contracts, change order abuse, cost mischarging, defective pricing, false statement and claim, phantom vendors, product substitution, unnecessary purchases and purchases for personal use or resale.

https://all-gists..com/2019/03/13-Trillion-Stolen-Under-Jonathan-Regime-EFCC-Chairman.html?m=1

I will tell EFCC chairman to go and fvck his own mother. Or Jonathan issue will send him to grave.

Is EFCC chairman eyes blind to the impunity in BUHARI’s government? Don’t worry the war you are about to start will soon start

GEJ era has come and gone....


What are you doing or what will you do to those in power stealing now so d next EFCC chairman will not come and repeat the same statement...

Optional09:
I will tell INEC chairman to go and fvck his own mother. Or Jonathan issue will send him to grave.

Is INEC chairman eyes blind to the impunity in BUHARI’s government? Don’t worry the war you are about to start will soon start

INEC...??

Bros I no see INEC there oh..

Iyajison:



INEC...??

Bros I no see INEC there oh..

Thank you Jare, INEC has almost ran me mad lately and I love AAC and Sowore in particular tho

Mr chairman! What will benefit this Country right now is knowing how much is being stolen at the moment and the perpetrators.

After 4 years! Still no evidence of fight against corruption.

Arrest GEJ and jail him. He's a bloody thief

how much has been stolen since 2015 under this government

The buhari of 2019 will surely blame the buhari of 2015 for his inability to perform.

If x amount was stolen, how many thieves are in jail for the theft?

So how much has been stolen under Buhari
We pay your 1688 supplier with chinese yuan.check below for contacts info.

Leave dat man alone even if money got missing there was no hardship no increase in dollar or increase in goods n services d real thief is currently in Aso rock oppressing ,diverting, unleashing terror all manner of rubbish but There is God ooo we all will survive

Magun should also do well in telling us how much was stolen under this criminal administration of APC