President Ibrahim Babangida has removed Mr. Ibrahim Lamorde as Chairman of the Economic and Financial Crimes Commission (EFCC).
He has been directed to hand over Ibrahim Magu, a top official of Economic and Governance Unit of the commission.
Lamorde has been enmeshed in series of allegations bordering on diversion of funds recovered from the former Governor of Bayelsa State, the late Chief Dipreye Alamieyeseigha.
The erstwhile EFCC boss was billed to appear before the Senate this week to defend himself over allegation of illegally diverting N1 trillion being proceeds from seizures from suspected treasury looters.
Lamorde was appointed in 2011 by former President Goodluck Jonathan following the removal of Mrs Farida Waziri.