Segun Akanni, Toronto, Canada 
Ibrahim Magu, the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), has been released on bail, TheCable understands.
He was arrested and detained on Monday, July 6, 2020, following a summons by the presidential panel probing his activities in office.
The details of his bail are still sketchy but it was gathered that he has returned to his residence in Abuja.
During his detention, Magu spent the night at Area 10, force criminal investigation department (FCID) of the police in Abuja.
His personal and official residences in Abuja were searched while his security aides were withdrawn.
He had earlier written to Mohammed Adamu, inspector-general of police, to demand bail but the IGP asked him to redirect his request to the Ayo Salami panel for appropriate attention.
Magu’s release comes hours after news broke that 12 EFCC directors had been suspended in connection with Magu’s probe.
Some of the directors affected by the action were involved in investigating Abubakar Malami, attorney-general of the federation.
Magu’s travails followed a memo by Malami accusing him of grave malfeasance. He was alleged to have mishandled the recovered loot and sold seized assets to his associates.
A slew of allegations has come to the fore since his arrest. He was alleged to have purchased a property in Dubai, United Arab Emirate using a pastor as a conduit.
He was also alleged to have laundered over N500 billion through a bureau-de-change in Kaduna.
Magu, through his lawyers, has denied the allegations.
Mohammaded Umar, former director of operations at the EFCC, has taken charge of the commission in acting capacity.
