The Minister of Finance, Mrs Kemi Adeosun, has disclosed that her memo to the Chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, on recovered loots was standard procedure that had no ulterior motive behind it.
Adeosun’s memo dated February 9, 2018, informed the EFCC of the need to reconcile details of cash assets recovered between May 2015 and January 2018.
The minister said there was a disparity between records available with the Office of the Accountant General of the Federation and the ministry on one hand and what the anti-graft body usually used in media reports as records of cash assets recoveries in its custody.
The minister asked the EFCC boss to ensure the reconciliation of its records with the Ministry of Finance.
The memo, which leaked over the weekend, attracted harsh criticism from Nigerians, who accused the government of insincerity in details of recovered loot since the beginning of the current administration in May 2015.
However, Premium Times quoted the minister as saying that the memo to the EFCC boss had no ulterior motive behind it.
In a letter signed by her media aide, Oluyinka Akintunde, the minister explained, “The attention of the Honourable Minister of Finance, Mrs. Kemi Adeosun, has been drawn to media reports misrepresenting her innocuous letter to the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, on cash recoveries by the Federal Government.
“The minister wishes to state explicitly that the letter dated 9th February, 2018, was a standard letter aimed at improving controls over the recovered funds.
“There is no ulterior motive behind the letter as alleged in some media reports but to enable the reconciliation and harmonisation of the figures on recovered funds by the government.”
Thr minister added that EFCC has since complied with the memo and harmonising with the ministry and Accountant General’s Office was currently ongoing.