Magu’s EFCC allows  millions of dollar vessels to sink  despite Navy’s warnings

“A disturbing example is the two vessels that allegedly sunk at the NNS Beecroft Naval Base, Lagos and the NNS Pathfinder Naval Base in Port Harcourt without trace under the watch of the acting Chairman of the EFCC.

“The vessels named MT GOOD SUCCESS, MV PSV DERBY and MV THAMES were allowed to sink in spite of several warnings from the Navy on the need to evacuate the petroleum products in the vessels.

“The total value of the assets lost due to the negligence runs into millions of the  United States  dollars

“The (suspended) acting Chairman has yet to provide a report on what happened to these vessels,”  the report said.

According to NAN, PCARA’s  report also revealed that the few consultants hired by the EFCC were not managing a substantial number of the recovered assets and that the EFCC had no capacity to manage the entire assets on its own.

The committee, therefore, alerted the nation to the economic and environmental implications of this negligent of duty by the commission.

It also stated that the EFCC made conflicting submissions or returns to it in respect of the non-cash assets which substantially affected the committee’s assignment.

The report read in part, “For instance, the EFCC stated 836 as the number of recovered properties  in the original returns it made to the President on July 4, 2017.

“However, in its first  returns to PCARA on  December 13, 2017, the EFCC short changed the system and gave the figure of 339 thereby failing to account for 497 properties

“It is interesting to note that when the acting chairman was further queried on this lapse, he made further contradictory second return of 504 on March 9, 2018 thereby bridging the gap to 332 properties.’’

The committee identified lack of internal control mechanisms/systems within the EFCC and the lack of adequate returns by the EFCC departments and  zonal offices as reasons for these discrepancies and inconsistencies by the commission.

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