The DSS spokesman, Peter Afunanya, debunked the news that Magu was arrested by the agency but he did not explain why he was compelled by operatives to appear before the panel for interrogation.

In a statement titled “Magu not arrested by DSS,” Afunanya wrote, “The Department of State Services wishes to inform the public that it did not arrest Ibrahim Magu, acting Chairman of the Economic and Financial Crimes Commission as has been reported by sections of the media.

“The service has since, today, July 6, 2020, been inundated with enquiries over the alleged arrest.”

Despite the DSS’ denial, however, a source told one of our correspondents that Magu was actually arrested.

“He was actually arrested. He didn’t honour an invitation sent to him, so they plotted and cornered him.

“His driver was forced out of the vehicle and he was driven down to the venue,” the source claimed.

Sources confirmed to newsmen that the investigation into the missing funds followed a formal complaint by Malami against Magu.

 Malami had reportedly complained to Buhari about Magu’s conduct and advised that he should be relieved of his appointment.

He was also said to have accused Magu of insubordination and discrepancies in the figures of funds recovered by the EFCC, disposing of assets, especially buildings seized from corrupt politicians and others, without approval, or knowledge of the AGF’s office, which is the supervisory ministry of the EFCC.

The AGF listed various offences allegedly committed by Magu, for which he should be sacked.

It was gathered that the Governor of Central Bank, Godwin Emefiele  and the Minister of Finance, Zainab Ahmed, would also make submissions before the panel on the funds and real estates recovered by the EFCC in order to reconcile them with the records being held by their respective offices.

A source stated, “The President set up a panel to interrogate Magu on the missing funds and discrepancies in the records of recovered funds from politically-exposed persons.

“The justice minister had earlier directed the police to investigate the allegations against Magu, but the government discovered that the police were hiding some information and were not thorough in their investigations. So, they directed the DSS to be part of the investigating team.

“Malami said some of the funds recovered by the EFCC were not in the CBN accounts and he has all the records. The panel is expected to invite the CBN Governor and the Minister of Finance to shed further light on the issue.”