Close Menu
Straightnews

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Kidnap: Court Convicts Policeman, Bus Conductor to Die by Hanging in Akwa Ibom

    February 25, 2026 --- 10:20 pm

    Akwa Ibom Govt Inaugurates AKSU Governing Council

    February 25, 2026 --- 9:45 am

    US Congress Seeks Sanctions and Visa ban on Individuals Linked to Nigerian Christians’ Persecution

    February 25, 2026 --- 7:32 am
    Facebook X (Twitter) Instagram
    Trending
    • Kidnap: Court Convicts Policeman, Bus Conductor to Die by Hanging in Akwa Ibom
    • Akwa Ibom Govt Inaugurates AKSU Governing Council
    • US Congress Seeks Sanctions and Visa ban on Individuals Linked to Nigerian Christians’ Persecution
    • Tinubu Appoints Disu As New Inspector-General Of Police After Egbetokun’s Resignation
    • Police Bust Drug Enclaves in Itu, Arrest 18 in Major Crackdown
    • TV News Anchor Queries party for Recording more votes than Registered Voters
    • Prof Slams UI for Producing 58 First-Class Law graduates in a Session
    • Akwa Ibom: Drowning the Jinx of Private Sector Investment
    Facebook X (Twitter) Instagram
    Straightnews
    • Home
    • About Us
      • About StraightNews
      • Our Philosophy
      • Editorial Board
    • News
      • Nationwide News
      • Community News
      • Regional News
        • North Central
        • North East
        • North West
        • South East
        • South South
        • South West
    • Nigeria
      • Politics
      • Economy
      • Education
      • Security
      • Energy
      • Agriculture
      • Health
      • Labour
      • Environment
      • Technology
      • Real Estate
      • Transportation
      • Judiciary
      • Electricity
    • Foreign
      • Africa
        • West Africa
        • South Africa
        • North Africa
        • East Africa
      • America
      • Asia
      • Europe
    • Social
      • Photo Gallery
      • Entertainment
      • Events
      • Fashion
      • Fitness
      • Short Stories
      • Lifestyle
      • Relationship
      • Travel
      • Specials
        • Personality Interview
        • Special Reports
        • Profile
    • Articles
      • Editorial
      • Opinion
      • Essay
    • Contact Us
    • Sports
    Straightnews
    Home»Nigeria»Economy»5% Compensation: Magu, Whistle Blower’s Counsel Disagree
    Economy

    5% Compensation: Magu, Whistle Blower’s Counsel Disagree

    Our ReporterBy Our ReporterNovember 10, 2017 --- 7:24 pmUpdated:November 10, 2017 --- 10:50 pmNo Comments4 Mins Read
    WhatsApp Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    WhatsApp Facebook Twitter LinkedIn Pinterest Email

    The dust surrounding claim by Economic and Financial Crimes Commission (EFCC) over payment of five per cent promised the young man who blew the whistle on the massive stash of money recovered from an apartment in Ikoyi, Lagos is not yet clear.

    In a statement issued by the spokesman of the EFCC, Wilson Uwujaren for the acting chairman of the commission, Ibrahim Magu in Vienna, Austria, on Thursday, November 9 during the ongoing 7th session of the conference of states parties to the United Nations Convention Against Corruption, Uwujaren quoted Magu as saying that the whistle blower was already a millionaire by virtue of the percentage he was officially entitled to.

    “We are currently working on the young man because this is just a man who has not seen one million naira of his own before. “So, he is under counseling on how to make good use of the money and also the security implication. “We don’t want anything bad to happen to him after taking delivery of his entitlement. He is a national pride,” Magu said.

    On April 7, EFCC operatives broke into a four-bedroom apartment on Osborne Towers, Ikoyi, and pulled out $43 million, £27,800 and N23 million stashed in a wardrobe.

    The commission said the discovery followed an operation triggered by a whistle blower’s alert received by its Lagos office. The EFCC boss called on Nigerians who want a positive change in the country to take advantage of the whistle blowing policy announced by the government early this year.

    He noted that aside from contributing to the eradication of corruption, potential whistle blowers also stood to “benefit from the illicit acquisition by the looters. So, we encourage more whistle blowers to come forward with genuine information that will lead to recoveries from looters of public treasuries. That is part of the ways we can put an end to the looting madness in the public sector,” Magu noted.

    But in a swift reaction to EFCC’s statement, counsel to the unidentified whistle-blower, who gave information leading to the recovery of huge sum recovered from Flat 7B Osborne Towers, Ikoyi, Lagos, Yakubu Galadima, disputed that his client has not been paid the promised five percent.

    Galadima described the claim by the acting Chairman of the commission, Ibrahim Magu that his client has been paid and being counseled on how to use the money as false.

    Addressing journalists on the premises of the Lagos State High Court in Ikeja on Friday, Galadima insisted that EFCC had abandoned his client, adding that the Commission was not aware of his client’s whereabouts let alone counseling him.

    “The EFCC does not even know the whereabouts of my client. He is presently living from hand to mouth having been abandoned by the commission.

    “We have written to the President and even to Magu himself and we have yet to get any form of response. I even sent Magu an SMS this morning debunking the allegation that my client has been paid; but as I speak, I have yet to get a response from him,” Galadima said.

    On June 7, Federal High Court that sat in Lagos ordered the final forfeiture of the money to the federal government.  Meanwhile, Justice Saliu Saidu of a Federal High Court in Lagos on Thursday, November 9, ordered the temporary forfeiture to the federal government of flat 7B, Osborne Towers, Ikoyi, Lagos.

    The judge issued the orders following an ex parte application by the Economic and Financial Crimes Commission (EFCC). NAIJ.com gathered that the property housed the sums of $43.3 million, £27,800, and N23 million in cash. The judge issued the orders following an ex parte application by the Economic and Financial Crimes Commission (EFCC).

    Source: Naij.com

     

    Austria Economic and Financial Crimes Commission EFCC Ibrahim Magu Nations Convention Against Corruption Wilson Uwujaren
    Share. WhatsApp Facebook Twitter Pinterest LinkedIn Tumblr Email
    Our Reporter
    • Website

    Related Posts

    Tinubu Appoints Disu As New Inspector-General Of Police After Egbetokun’s Resignation

    February 25, 2026 --- 5:02 am

    Trump Ignores Supreme Court, Pushes US Global Tariffs To 15%

    February 23, 2026 --- 5:06 am

    613 New ASPs in Akwa Ibom Urged to embrace Professionalism, Rule of Law

    February 17, 2026 --- 6:36 pm

    Comments are closed.

    Search
    Our Picks
    Don't Miss
    Crime

    Kidnap: Court Convicts Policeman, Bus Conductor to Die by Hanging in Akwa Ibom

    By straightnewsng.comFebruary 25, 2026 --- 10:20 pm0

    Aniefiok Christopher A policeman and a commercial bus conductor are to die by hanging for…

    Akwa Ibom Govt Inaugurates AKSU Governing Council

    February 25, 2026 --- 9:45 am

    US Congress Seeks Sanctions and Visa ban on Individuals Linked to Nigerian Christians’ Persecution

    February 25, 2026 --- 7:32 am

    Tinubu Appoints Disu As New Inspector-General Of Police After Egbetokun’s Resignation

    February 25, 2026 --- 5:02 am

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    About Us
    About Us

    The publication is committed to the principles of development journalism. We are prepared to change the public perception that the profession is a harbinger of hate, blackmail, sycophancy, prejudice and falsehood.

    We pledge to use journalism practice to give voice to the voiceless and to give people of all shades of opinions an opportunity to tell their stories.
    We're accepting new partnerships right now.

    Recent Posts
    • Kidnap: Court Convicts Policeman, Bus Conductor to Die by Hanging in Akwa Ibom
    • Akwa Ibom Govt Inaugurates AKSU Governing Council
    • US Congress Seeks Sanctions and Visa ban on Individuals Linked to Nigerian Christians’ Persecution
    • Tinubu Appoints Disu As New Inspector-General Of Police After Egbetokun’s Resignation
    • Police Bust Drug Enclaves in Itu, Arrest 18 in Major Crackdown
    Facebook X (Twitter) Instagram Pinterest
    • Advertise With Us
    © 2026 Straightnews Wire Limited

    Type above and press Enter to search. Press Esc to cancel.