The Justice Isa Ayo Salami-led presidential investigative panel on the allegations levelled against the erstwhile acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, is probing him on his alleged link to a Kaduna-based Bureau de Change found to have made transactions of N336 billion, $435 million and 14 million Euros.
Sources hinted that the suspicion of Magu’s alleged link was raised before the panel by the Nigerian Financial Intelligence Unit (NFIU) which discovered the transactions.
The panel grilled Magu for the fifth day on Friday before closing for the day at about 7pm.
Magu is to explain before the panel what he knew about the Bureau de Change and the huge amount of money in its possession.
Magu’s link to a Lagos-based lawyer is also being verified by the Panel,as he was also said to have collected the sum of N28 million from the Kaduna-based Bureau de Change.
Besides, the panel is also interested in finding out whether there is any relationship between Magu and a relatively unknown Lagos-based pastor found with N573 million in his account.
The pastor is alleged to be a close associate of the former EFCC boss.
A source hinted that “From the issues before the committee, there are two big issues concerning Bureau de Change being allegedly linked to Magu in Kaduna; that Bureau De Change has been discovered by the NFIU to have transacted business in the region of N336 billion, $435 million and about 14 million Euros.
“There is one other allegation against Magu that there is a little-known pastor in Lagos associated with him that was discovered to have N573 million in his account.
It added that there was also a famous lawyer in Lagos that had taken N28 million from the Bureau de Change.
President Muhammadu Buhari had approved Magu’s suspension from office last Friday.