Eniola Olayemi

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde, was on Monday told to proceed on terminal leave, the Presidency has announced.

He has been replaced by Ibrahim Magu of the Economic and Governance Unit of the EFCC.

President Muhammadu Buhari personally broke the news to Lamorde during a private meeting at the State House on Monday.

A statement signed by Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said Lamorde was proceeding on terminal leave ahead of the expiration of his four-year tenure in February 2016.

The statement reads: “President Muhammadu Buhari has approved the appointment of Mr. Ibrahim Mustafa Magu as the Acting Chairman of the Economic and Financial Crimes Commission .

“Mr. Magu, who is an Assistant Commissioner of Police, is to take over from Mr. Ibrahim Lamorde who is proceeding on terminal leave ahead of the formal expiration of his tenure in February next year.”

A Senate committee in August launched a probe into allegations that Lamorde had diverted stolen assets and cash recovered by the Economic and Financial Crimes Commission.

He denied the claims that N1tr had gone missing at the commission. The former police officer was scheduled to appear before the Senate committee Tuesday regarding the accusations.

Lamorde took over as chairman of the anti-graft agency on November 23, 2011 after his predecessor, Mrs Farida Waziri, was dismissed by former President Goodluck Jonathan.

Magu is remembered as a no-nonsense investigator of the commission at its inception.

He was removed along with several other key officials by Waziri when she became chairman in 2008 under late President Umaru Yar’Adua.