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The real reasons why the Economic and Financial Times Commission (EFCC) has embarked on a fresh assault on the , has come to light.

And this is as espoused by Professor Itse Sagay.

The Chairman of the Advisory Committee Against Corruption, PACAC, Itse Sagay, has reacted to the probe of the Senate President, Bukola Saraki by the Economic and Financial Crimes Commission, EFCC.

Sagay explained that the anti-graft agency was investigating Saraki for alleged acquisition of properties by fraudulent means and not false declaration of assets, which he had been cleared by the courts.

EFCC had last week sealed off some properties belonging to Saraki located in Ikoyi, State while investigations the period he was of Kwara State from 2003 to 2011.

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The Senate President, however, described the action of the anti-graft agency as a witch-hunt, claiming that the property in question had been investigated by the commission several times in the past.

However, Sagay, while speaking with Independent said: “The investigation is not over. The earlier one was the issue of false declaration of assets. What they are doing now is acquiring properties by fraudulent means and siphoning money from the state.

“So, it is a totally different charge. Although, he was cleared up to the on the issue of declaration of false assets, this one is different.

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“That the court declared that a case is not proved does not mean that there is no guilt. So, this is a second approach, which permits the agency to actually have the property forfeited without proving guilt.

“All he has to do is to go through the first process of temporary forfeiture and then, the owner of the property (in this case, Saraki) will be invited by the court through an order to come and justify how he acquired the property, usually by affidavit.

“So, the two parties will come and if he cannot establish satisfactorily to the court that he earned the money by which he acquired the property, then he will lose it to the Federal Government.”

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Sorce: Daily Post

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Abass Sulaiman Adegoke, well known as Adegoke is a student of Federal Polytechnic Ede studying Civil Engineering, He is a media enthusiast, loves traveling, and has a special interest in personal development.

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News

BREAKING: Shoprite begins moves to leave Nigeria

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South African superstores, Shoprite Holdings Limited, has stated it will auction its outlets in Nigeria, The Nation can report.

The decision, it said, was informed by the COVID-19 pandemic, which it said has affected businesses worldwide.

In its “Operational and Voluntary Trading Update (52 Weeks Ended 28 June 2020)” released on Monday, the megastores with presence in virtually all parts of Nigeria said the retail supermarkets arm will be disposed.

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The update reads: “Following approaches from various potential investors, and in line with our re-evaluation of the Group’s operating model in Nigeria, the Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited.

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time.”

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Order Buhari To Publish Details Of Govt Loans Since 2015, SERAP Tasks Court

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THE Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court, Abuja to order Muhammadu Buhari to “publish details of loans that have been obtained by the government since May 29,  2015, including the interest rate, the total amount of debts so far incurred by this government as well as details of the  projects on which the loans have been spent.”

Joined as respondents in the suit number FHC/ABJ/ CS/785/2020 are the Attorney- General of the Federation and  Minister of Justice, Mr Abubakar Malami; Minister of Finance, Budget and National Planning, Ms Zainab Ahmed, and the director-general of the Debt Management Office, Ms Patience Oniha.

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SERAP is seeking “an order of mandamus to direct and compel President Buhari to tell Nigerians the names of countries and bodies that have given the loans, specific repayment conditions and whether any public officer solicited and/or received bribes in the negotiations for any of the loans and if there is a plan to audit the spending of the loans to resolve any allegation of mismanagement and corruption.

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SERAP is also asking the court to “direct and compel President Buhari to tell Nigerians if he would instruct the  Independent Corrupt Practices and other related offences Commission (ICPC) and the Economic and Financial Crimes  Commission (EFCC) to monitor the spending of all loans obtained since May 2015.”

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