As the probe suspended acting chairman of the Economic and Financial Crimes Commission, EFCC Ibrahim Magu entered five days, Saturday, he has been asked to explain his relationship with a Kaduna-based Bureau de Change found to have made transactions of N336 billion, $435 million and 14 million Euros.
The presidential investigative panel led by Justice Ayo Salami was informed of the link between Magu and the Bureau De Change by the Nigerian Financial Intelligence Unit (NFIU) which discovered the transactions.
Magu was questioned by the panel up to 7pm when it adjourned and is expected to begin with explanations on the link when the panel resumes.
Another issue that was raised bothers on the payment of N28 million by the Kaduna-based Bureau de Change to a Lagos based lawyer also said to have links with Magu.
In addition, the panel is probing how Magu came to know a Lagos based pastor in whose account was found N573 million as there were allegations that the pastor is Magu’s friend.