Mr. Ibrahim Magu has been suspended as the acting Chairman of the Economic and Financial Crimes Commission (EFCC).
The suspension is said to have been approved by President Muhammadu Buhari.
This development comes a day after he was arrested and detained by security operatives in Abuja.
He had appeared before a panel probing allegations of gross misconduct and misappropriation of funds levelled against him.
The panel is headed by Justice Ago Salami and is sitting at the Conference Center of the Presidential Villa.
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