EFCC boss was reportedly arrested over allegations that he owns four properties and that he was allegedly transferring money abroad through a third party.
Magu, who is yet to be confirmed as the substantive head of the anti-graft agency, has been in the news of recent for different fraudulent allegations.
The Attorney General of the Federation has also recommended the dismissing of the EFCC boss over fraud charges.
Exposing some of Magu’s alleged fraudulent activities, Infoxclusivereporters quoted a 2016 report by the DSS, which accused Magu of living in an N40m mansion paid for by one retired air commodore Umar Mohammed, who is allegedly involved in shady deals.
“In 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.
“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.
“For the furnishing of the residence, Magu enlisted the Federal Capital Development Authority to award a contract to Africa Energy, a company owned by the same Mohammed, to furnish the home at the cost of N43m.
“Investigations show that the acting EFCC chairman regularly embarked on official and private trips through a private jet owned by Mohammed.
“In one of such trips, 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.
“Furthermore, the EFCC boss has so far maintained a high-profile lifestyle. His preference for first-class air travel exemplifies this. 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 despite 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, favors and associated returns,” the DSS report said.