CCB to prosecute Magu over dormant account, ‘Port Harcourt property’

The Code of Conduct Bureau (CCB) will arraign Ibrahim Magu, the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), before the Code of Conduct Tribunal (CTC) any moment from now, TheCable understands.

According to sources in the know, Magu is to be prosecuted for allegedly failing to list a bank account in his asset declaration form.

TheCable understands that the First Bank account had not been operated by Magu for five years and gone dormant.

The CCB, TheCable learnt, has also listed a property in Port Harcourt, Rivers state, allegedly owned by the police commissioner as part of the evidence to be used against him at the tribunal.

Magu had previously been accused of owning properties in Dubai, Lagos and Abuja — but it now appears there is no substance to the allegations.

His team has maintained that he owns only one house and it is in Karu, Nasarawa state.

“We thought they said he owned houses in Dubai and Banana Island but now it is a phantom property in Port Harcourt that is being linked to him,” a member of his team told TheCable.

– The Cable