Controversial Bank, FCMB in trouble over N573m linked to Magu

First City Monument Bank is getting enmeshed in more controversies by the day as the chairman of the Presidential Investigation Commission of Inquiry on the EFCC, Justice Ayo Salami, lampooned the bank for its carelessness in handling an error that misled the commission and millions of Nigerians. Recall that the media space was awash with news of a N573m allegedly wired by Pastor Emmanuel Omale, General Overseer of Divine Hand of God Prophetic Ministries International, Abuja, to the United Arab Emirates to buy properties for Ibrahim Magu, suspended chairman of…

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Ex-banker involved in Diezani’s $153m loot trial testifies against Magu

An ex-banker, Dauda Lawal, on Saturday appeared before the Justice Ayo Salami-led presidential panel to give evidence against the suspended Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu. Lawal, a former staff of an old generation bank is currently standing trial before a Federal High Court in Lagos for allegedly receiving $25m out of the $153m loot traced to a former Minister of Petroleum Resources, Diezani Alison-Madueke. A source close to the panel told The Punch that the former banker was invited as part of a probe into…

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$2.5bn Fraud: UK blocking Diezani’s arrest -Magu

Ibrahim Magu, acting Chairman of the Economic and Financial Crimes Commission, on Monday, revealed that ex-Petroleum Minister, Diezani Allison Madueke, is in protective custody in the UK hence efforts to arrest the fugitive ex-minister has always met a brick wall. Magu, therefore, begged the United Kingdom to extradite Mrs. Alison-Madueke, to Nigeria to account for an allegedly missing $2.5bn. Magu, who addressed journalists preparatory to the passing out parade of the EFCC trainees at the Nigerian Defence Academy, Kaduna, alleged that the former minister stole Nigeria’s money. The EFCC boss…

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