Breaking: DSS Arrests EFCC Chairman, Ibrahim Magu

… owns four properties abroad

… involve in money laundering

… converting seized properties to personal use

Ibrahim Magu, Acting Chairman of the Economic and Financial Crimes Commission (EFCC), has been arrested by the Department of State Services (DSS).

The premier news learnt that he was arrested over twenty-four allegations bordering on fraud, money laundering, ill-gotten wealth owns four properties in different part of the world.

He is also alleged to have transferred funds abroad through a third party and mismanagement of public funds.

In 2016, DSS accused the EFCC boss of living in a N40m mansion paid for by one Umar Mohammed, a retired Air Commodore.

The DSS report said on December 2010, the Police Service Commission (PSC) found Magu guilty of action prejudicial to state security – withholding of EFCC files, sabotage, unauthorized removal of EFCC files and acts unbecoming of a police officer, and awarded him severe reprimand as punishment.

It is noted that Magu is “currently occupying a residence rented for N40m at N20m per annum. The 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”.

DSS stated that 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”

In one of such trips, the report added that 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.

“ 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.

When EFCC spokesman, Dele Oyewale was contacted for reaction his phone line was not going through.