Mohammed Umar has been named the new acting chairman of the Economic and Financial Crimes Commission, EFCC.

Umar who was the director of operations of the antigraft agency took over the position from Ibrahim Magu who was yesterday suspended.

Magu was suspended after he was arrested following allegations of diverting recovered looted funds through a third party.

The allegations are contained in a memo by Abubakar Malami, attorney-general of the federation, AGF

He was immediately made to face a panel yesterday which was led by a retired president of the appeal court, Ayo Salami.