Ibrahim Magu has been suspended as the Acting Chairman of the Economic and Financial Crimes Commission, (EFCC) by President Muhammadu Buhari, the BBC reports.

Magu reportedly spent the night in a police cell at the Force Criminal Investigation Department (FCID) Headquarters in Abuja.

This followed a six-hour grilling by a presidential panel, chaired by Justice Ayo Salami, a former president of the Court of Appeal.

Buhari set up the panel to probe various allegations levelled against Magu, following a petition by the Minister of Justice and Attorney General of the Federation, Abubakar Malami, and the Department of State Service (DSS).

The Department of State Services (DSS) picked up Magu yesterday, over allegations that he owns four properties.

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He is also believed to have transferred funds abroad through a third party.

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

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

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