He was arrested over allegations that he owns four properties and that he was allegedly transferring funds abroad through a third party.
Jul 06, 2020Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has been arrested by the Department of State Services. The DSS in a 2016 report revealed that accused of living in an N40m mansion paid for by one Umar Mohammed, a retired air commodore who is allegedly involved in shady deals.
“Magu is currently occupying a residence rented for N40m at N20m per annum. This accommodation was not paid [for] from the commission’s finances, but by one Umar Mohammed, air commodore retired, a questionable businessman who has subsequently been arrested by the secret service.
“For the furnishing of the residence, Magu enlisted the Federal Capital Development Authority to award a contract to Africa Energy, a company owned by the same Mohammed, to furnish the residence at the cost of N43m.“Investigations show that the acting EFCC chairman regularly embarked on official and private trips through a private jet owned by Mohammed.
“In one of such trips, Magu flew to Maiduguri alongside Mohammed with a bank MD who was being investigated by the EFCC over complicity in funds allegedly stolen by the immediate past petroleum minister, Diezani Alison-Madueke.“Furthermore, the EFCC boss has so far maintained a high-profile lifestyle. This is exemplified by his preference for first-class air travels. On 24 June 2016, he flew Emirate airlines first-class to Saudi Arabia to perform lesser hajj at the cost of N2.9m. This is in spite of Mr. President’s directive to all public servants to fly economy class.
“Magu has fostered a beneficial relationship with Mohammed who by his confession approaches clients for possible exploitation, favours, and associated returns,” the DSS report said.