A presidential panel that investigated the Economic and Financial Crimes Commission’s handling of recovered loot, has indicted the acting chairman of the commission, Ibrahim Magu.
Magu was arrested on Tuesday and has since then been interrogated by a panel headed by retired Justice Ayo Salami on allegations of mismanagement and lack of transparency in managing recovered assets by the commission.
In his first public reaction to the Magu case, President Muhammadu Buhari said there were serious allegations of fraud against the EFCC chief, and the administration acted after a preliminary review of the accusations.
Citing the report of the Presidential Committee on Audit of Recovered Assets inaugurated by President Muhammadu Buhari in 2017, News Agency of Nigeria said there was a revelation how interests on 550 billion naira recovered by the EFCC was allegedly re-looted.
