For more than three years Ibrahim Magu was blocked from becoming the substantive chairman of the Economic and Financial Crimes Commission, EFCC by the Nigerian Senate.
This will likely change now that President Muhammadu Buhari has been returned for another four years in office by the Independent National Electoral Commission, INEC.
The case of the EFCC boss is one of the factors that will determine Buhari’s second term presidency, close watchers of the nation’s politics say.
Nigeria Stocks Exchange Suffered A Hit
Just few hours before Buhari was declared winner of the election the Nigerian Stock Exchange, NSE suffered a hit, indicating what to expect in the next four years, financial analyst said.
A member of the US Congress, Chris Smith said there clear are evidence that the election was rigged by the ruling party.
“I am very concerned by credible reports that the vote is being tampered with. To avoid any manipulation of the tally, it is critical that the Independent National Electoral Commission (INEC) announce without delay actual results — which are certified by party agents and observers — at each polling unit as the vote is tabulated,” Smith said
This suggestion seems to suggest the anxiety that now pervades the nation since Buhari was announced winner, particularly after his opponent, Atiku Abubakar rejected the results announced by INEC.
For instance, stocks at the Nigerian Stock Exchange, NSE fell by N85b in response to the declaration.
Reno Omokiri, a popular critic and aide to former President Goodluck Jonathan has warned that the nation’s economy will face hiccup with Buhari as president for another four years.
Just today alone, the Nigerian Stock Exchange lost ₦85 billion ‘celebrating’ your #NextLevel. Wait until tomorrow, those who were ‘sleeping’ will celebrate by taking their investment elsewhere. You seem not to understand the true state of Nigeria right now!” Omokiri said in a tweet.
President Buhari has promised to intensify war against graft even as his government has recently put the Chief Justice of the Federation, CJN Walter Onnoghen on trial for failure to fully declare his assets to the Code of Code Bureau.
Magu will be very instrumental to President Buhari war on corruption, critics say.
Announcing the results few hours ago, Professor Mahmoud Yakubu, chairman of INEC said President Buhari scored over 15,191, 847 votes while his closest rival in the election Atiku Abubakar of the Peoples’ Democratic Party, PDP scored over 11,255, 978 votes.
“That Muhammadu Buhari having satisfied the requirement of the law and scored the highest votes is hereby declared the winner,” Yakubu said
The president and his vice, Yemi Osinbajo received the certificate of return from the INEC chairman few minutes ago.
Magu Will Be Confirmed EFCC Chairman
With Buhari second term in office, critics say the coast has now cleared for the EFCC boss, particularly now that APC has majority senators in the Upper legislative chamber.
The President has vowed to intensify the anti-corruption war in his new term.
He also promised to send more people to jail on corruption charges.
Justice Onnoghen May Be Jailed
One of the likely casualties is Justice Onnoghen who has been put on trial by the CCT.
Justice Onnoghen was removed from office after he was accused of acquiring shell of offshore properties which he failed to declare as required by law.
It’s widely believed that the administration will try to use Justice Onnoghen case as an example to prove that it’s serious about its anti-graft battle.
He may not have much problem achieving these goals considering that he’s likely to work with a friendly National Assembly dominated by lawmakers from his party.
Ahmed Lawan To Emerge Senate President
The magazine learned that the current Senate Leader, Ahmed Lawal will likely emerge Senate President to replace Bukola Saraki who lost the election to return to the senate.
Ibrahim Oloriegbe of the APC will replace Saraki as Senator representing Kwara Central having won the senatorial election last Saturday.
Dogara Will Lose Speakership
The same is likely to happen in the House of Representatives where Yakubu Dogara is not expected to be re-elected Speaker, though he won the election to return to the lower chamber.
Both Saraki and Dogara have been accused of working against the party’s interest after they were elected in 2015 to lead the two chambers.
Saraki Will Be Punished
Apart from losing his position as the number three in the nation’s political hierarchy, the Kwara strongman should expect worst, critics say.
The ruling party will punish Saraki for his “treachery” against the party, an APC stalwart in Lagos told the magazine in the aftermath of the election.
According to him, Saraki will be stripped of immunity as Senate President by the time Buhari is sworn in for second term.
“That will open up more legal battle against crimes he allegedly committed,” the politician said.
One of such cases is his alleged involvement in a robbery operation in Offa, Kwara state last year.
Police have arrested some suspect who allegedly indicted the senate president.
Even though the Attorney General of the Federation, Abubakar Malami has written to the police on the issue exonerating Saraki, the belief is that the case may be brought back as punishment for his rebellion against the party.
His protégé, Senator Dino Melaye may also suffer same fate, sources in APC told the magazine.
Melaye has won election returning him Senator representing Kogi West, having defeated the candidate of ruling APC, Smart Adeyemi.
But that will not be enough to save him because he has been penciled down for punishment, sources also told the magazine.
Melaye is facing two counts bordering on giving false information to the Police in 2017.