Magu: Treasury Looters Stranded, Unable to Access Loot

The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, yesterday declared that treasury looters in Nigeria were stranded and unable to access looted public funds following intensified anti-graft war waged by the commission.

This comes as the 17 million strong National Association of Barbers and Cosmetology Employers of Nigeria (NABCEAN) said its members were yet to receive palliatives or loans from government.

Speaking while receiving the group in his office, Magu said looters of public funds were stranded and unable to access looted funds as a result of restrictions placed on the accounts containing such funds.

He said the gap between the rich and the poor had shrunk as a result of the war against corruption. “They are stranded. They have a lot of money but they don’t know what to do with it. We will stop them. I will shave them dry.

“We don’t have problem with any looters because we know we will get them,” he said.

He urged the group led by a United States-based Mr. Barile Ngbobu, to mobilise his group in diaspora and Nigeria to take ownership of the anti-graft campaign. The leader of group said beauty and cosmetology industry remained the second fasted growing industry in

Nigeria with the capacity to generate $97billion annually and noted that the association had an important role to play in the anti-graft campaign.

The Vice Chairman of the NABCEAN, Ms. Fatima Momoh, said that in spite of the COVID-19 intervention funds available to the federal government, the group whose membership spans 36 states was yet to receive any palliatives or loans disbursed to small and medium scale enterprises by government.