President Muhammadu Buhari, acting on the recommendation of the Justice Ayo Salami panel has suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, till further notice as investigation into his activities at the commission continues.

Magu will however face further inquest by the panel and relevant agencies which will lead to his prosecution if necessary.

Meanwhile, the Presidency says the ongoing interrogation of Magu is to clear himself of weighty allegations levelled against him.

A presidency source, who preferred not to be named, told State House correspondents in Abuja on Tuesday that the probe of Magu was an affirmation that nobody under “the present administration is above scrutiny’’.

The source, who could neither confirm nor deny the suspension of Magu as reported by traditional and social media outfits, maintained that the investigation of the EFCC boss was to reinforce the Buhari administration’s commitment to transparency and accountability.

He affirmed that the holder of an elevated office such as the chairman of the EFCC must be above suspicion.

According to the source, the Buhari administration will not prejudge anyone as it can be counted on to uphold justice and fairness.

The source said: “The panel investigating allegations against Ag. EFCC Chairman had been sitting for some weeks now.

“In consonance with the principle of fairness and justice, it was needful that the Ag. Chairman be given opportunity to respond to the allegations, which are weighty in nature.

“Under the Muhammadu Buhari administration, nobody is above scrutiny. Repeat: nobody.

“The investigation is to reinforce transparency and accountability, rather than to vitiate it.

“Accountability for our actions or inactions is inalienable part of democracy.

“In such elevated position as that of EFCC Chairman, the holder of the position must be above suspicion.

“There’s no prejudgment – absolutely none. The Buhari administration can be counted on to uphold fairness and justice at all times.”

A presidency source had earlier confirmed that Magu was on Tuesday afternoon suspended from office following the ongoing investigation by the presidential panel, headed by retired Justice Ayo Salami.