. Released from police custody on bail, returns to Abuja residence
Suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, was on Wednesday evening released from police custody on bail, after 10 days in detention.
Magu was arrested on July 6, 2020 amid allegations of corruption and brought before the Justice Ayo Salami-led Presidential panel.
The suspended EFCC boss was accused of inability to account for the interest accrued to recovered funds amounting to about N550billion.
He was also accused of insubordination and purchase of property in Dubai, the United Arab Emirates.
Magu was arrested following a summons by the presidential panel probing his activities in office.
Details of his bail are, however, still sketchy as the terms for his release are not known. He was said to have since returned to his residence in Abuja.
While in detention, Magu spent the night at the Area 10 office of the Force Criminal Investigation Department of the police in Abuja.
The EFCC boss’ personal and official residences in Abuja were searched while his security details were withdrawn.
Magu had earlier applied to the Inspector-General of Police, Mohammed Adamu for bail, but the IGP asked him to redirect his request to the Justice Ayo Salami-led Presidential Panel for appropriate attention.
But the suspended EFCC boss’ release comes hours after the suspension of 12 directors of the commission in connection with his ongoing probe.
Some of the suspended directors, it was learnt, were part of the team investigating the Attorney-General of the Federation and Minister of Justice, Abubakar Malami.
Malami had accused Magu of grave malfeasance in a memo to President Muhammadu Buhari.
He was alleged to have mishandled recovered loot and sold seized assets to his associates.
Several other allegations had come to the fore since Magu’s arrest. He was alleged to have purchased a property in Dubai, United Arab Emirate using a pastor as a conduit.
The suspended anti-graft boss was also alleged to have laundered over N500 billion through a bureau-de-change in Kaduna.
But Magu, through his lawyers, has denied all the allegations.
Former Director of Operations, Mohammed Umar, has since taken charge of the commission in acting capacity.