No hiding place for defecting politicians — Magu

The acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, yesterday said the commission would not stop the investigation and prosecution of politicians defecting from one political party to the other.

According to him, the commission has the capacity to investigate anybody.

Speaking at a meeting with media executives in Lagos, Magu said the commission was able to recover stolen assets worth N106.5 billion, $ 1.635 million and 25, 575 Euro between January and August this year.

He said the commission had in thelast three years, “consistently recorded improvements in the area of prosecution of persons for corruption and recovery of stolen assets.

“So far this year, we have had the honour of sending two former governors to jail for 14 years each. It has never happened before. As I speak with you, the commission has recorded over 158 convictions. At this rate, I am confident that we will surpass the record of 189 convictions achieved in 2017.

“In term of asset recovery, the figures from January to August 2018 stood at N106, 516,222,383 billion, $1, 635,925.81 billion and 25,575 Euro. Remarkable as this feat is, we are not resting on our oars. We believe there is still a lot to be done, which is the reason we are actively seeking the support of all stakeholders, including the media.”

Magu said the EFCC had been obtaining information about some Nigerians spending looted funds outside the country.