Chairman of Nigeria’s Economic and Financial Crimes Commission Ibrahim Magu arrested for financial fraud

The acting Chairman of Nigeria’s Economic and Financial Crimes Commission, Ibrahim Magu, has been arrested for financial fraud.

Magu was arrested on Monday afternoon in Abuja and is currently undergoing interrogation at the DSS Headquarters In Aso Drive.

Local news publications reported that the security agents who arrested him on Monday afternoon in the capital Abuja took him straight to the presidential villa to appear before a presidential panel sitting at the Banquet Hall of the villa. He was joined there by Rotimi Oyedepo, an EFCC counsel.

While some reports said the panel is investigating allegations of corruption and insubordination levelled against him by the Attorney-General of the Federation. Abubakar Malami, other said Magu was reportedly arrested over allegations that he owns four properties and that he was allegedly transferring funds abroad through a third party, according to some reports.

Local newspapers recalled that the DSS in a 2016 report accused Magu of living beyond his means, in a N40 million mansion paid for by Umar Mohammed, a retired air commodore who is allegedly involved in shady deals.

Earlier reports suggested that he was arrested by the Department of State Services but the agency said it did not arrest him.

“The Department of State Services (DSS) wishes to inform the public that it did not arrest Ibrahim MAGU, Acting Chairman of the Economic and Financial Crimes Commission (EFCC) as has been reported by sections of the media. The Service, has since, today, 6th July, 2020, been inundated with enquiries over the alleged arrest,” Peter Afunanya, the SSS spokesperson, said in a statement.

Chief White House Correspondent for

Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.

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