Worried by the rate of corruption by past and present government officials, the Senate Committee on Financial Crimes and Anti-Corruption headed by Senator Chukwuka Utazi yesterday charged the Acting Chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu, to go after alleged looters in public institutions.

According to Ceoafrica, the Committee, which hosted the EFCC boss in a budget defence session, expressed dismay at what it called the phenomenal level of looting of government funds in recent years.

The Committee said it was imperative for the EFCC to bring the looters to book to serve as deterrent to others, and the lawmakers also asked the EFCC to go after the Central Bank of Nigeria (CBN) to fish out the looters in the bank and ensure they face the music.

According to the committee, the  commission also needs to go after serving directors, permanent secretaries, procurement officials, and others  within the ministries, Departments and Agencies (MDAs), as according to the committee, such levels of officials are custodians of antics of looting.

Senator Isa Misau, who raised the issue at the defence session said that it was shocking to see the discovery of $9.7m and £74, 000 traced to a former Group Managing Director of the NNPC, Mr Andrew Yakubu.

Lamenting that the huge funds starched away in hidden places were not being deployed to trading or any economic activities to enhance trading and business transactions, Misau stated that the magnitude of stealing in the public offices was assuming an alarming stage, and the stealing being done with impunity.

He said: “We have a lot of these people who buy properties running to billions of naira and they pay in cash. And today, we have such properties everywhere, Maitama, Asokoro, Utako and other places not occupied.

“It is painful that EFCC would just arrest some of these people and after a week in custody released them on bail and at the end, nothing is heard about their cases; this is not what we want in Nigeria.

“We urge you EFCC to look into law and come up with a proposed amendment to enable you hold those who steal government’s money in custody for longer period. If you can steal billions of naira and then you spend only one week in EFCC custody and you go home, more people would be encouraged to loot and steal more”.

However, Committee Chairman, Senator Utazi in his remarks commended the efforts of the EFCC in combating money laundering ’and sustaining the fight against corruption.

He charged them to always stand on the path of truth and also said that the senate would do all within its powers to enhance the commission’s assignment in accordance with the law.