How EFCC Chairman Was Arrested For Diverting Ceased Funds To His Personal Account

It's no longer news that the Acting Economic And Financial Crimes Commission (EFCC) Chairman Ibrahim Magu was arrested by the DSS and now being charged for diverting funds they ceased from fraudsters and looters to his personal account.

He is also being accused of running the EFCC like a drugs cartel and facing a panel to defend himself.

The question on every Nigerian lips is that, why would a leader of a force that fights corruption engage in corruptible acts. Many on the streets are asking, could his salary not have been enough. 

Facing the panel, Magu said he gave the Nigerian vice president, Professor Yemi Osinbajo 4 billion naira after he told him to release part of the recovered loot. The vice president said he did not collect any 4 billion naira from him. 

Magu was arrested after Abubakar Salami, Nigeria's attorney general wrote a letter to Buhari about how the EFCC Chairman is diverting recovered loot, insurbodination and misconduct.

Presidential Advisory Committee Against Corruption (PACAC) reacted to report of the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu facing the panel.

A statement signed by a PACAC member Femi Odekunle, they insisted Ibrahim Magu is a victim of power play orchestrated by the Attorney General of the federation and Minister of justice, Abubakar Malami. 

 The Presidential Committee as well pointed accusing fingers at Malami of taking advantage of his closeness to the president to lead a war against Magu who didn't adhere to his request.

At the panel, Magu was asked to account for the 380 houses, 539 billion naira gotten from the sale of ceased assets, 504 billion declared by the commission, seven vessels loaded with crude oil, and assets worth 37 billion Naira he owns.

Over 20 allegations have been leveled against him as he has been suspended as the EFCC chairman.

Sources say Magu is being held on the ground floor of the Federal Criminal Investigation Department (FCID) Area 10 and his family are allowed to visit him.

The DSS are still searching Magu's house, as Magu continues to face the panel to clear himself.