President Muhammadu Buhari has approved the establishment of a Judicial Commission of Enquiry to investigate the alleged financial impropriety and mismanagement of recovered assets leveled against the suspended acting chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, according to a news report by Leadership.

Buhari has named the following as members of the panel: Justice Isa Ayo Salami (rtd) - North Central (Kwara) - chairman; DIG Anthony Ogbizi Michael (NPF)- South-South - Deputy chairman; Muhammad Abubakar Babadoko (FMOJ)- North Central- member; Hassan Yahaya Abdullahi (DSS) - North Central (Member); Muhammad Shamsuddeen (OAGF)- North West (Member); Douglas Egweme (NFIU) - South-East (Member) and Barr Kazeem Attitebi - South-West - Secretary.

Ibrahim Magu was arrested on July 6, 2020, in front of the Wuse office of the EFCC and directed to appear before the Salami- led panel.

It is important to state that certain witnesses have testified against Magu while the latter was said to have been served with the allegations and terms of reference on Saturday, August 8.

It is not certain if the numbers of days already spent by the panel so far would be deemed as part of the 45-day timeline as the panel has been sitting in private, barring journalists from covering its proceedings.

Allegations against Magu included alleged discrepancies in the reconciliation records of the EFCC and the Federal Ministry of Finance on recovered funds, declaration of N504b as recovered funds instead of N543b found in the CBN recovery account.

He was also accused of insubordination to the Office of the Attorney General of the Federation, (AGF).

Magu was accused of not providing enough evidence for the extradition of Diezani Alison-Madueke and alleged late action on the investigation of P&ID leading to a legal dispute.