The commander of the security outfit has confirmed the incident.
An Ebubeagu operative was on Saturday shot dead at the venue of the All Progressives Congress (APC) campaign rally in Ebonyi State, South-east Nigeria.
The slain operative identified as Ajason Aja was reportedly killed by a colleague over N1000.
Ebubeagu is a security outfit backed by the Ebonyi State Government.
Mr Aja and his colleagues were part of the Ebubeagu team drafted to the Isu community, in the Onicha Local Government Area of Ebonyi State, to provide security at the APC governorship rally in the area.
After the rally, the team was directed to secure the APC flags for subsequent rallies when an altercation occurred between Mr Aja and his colleague over the sharing of money.
Each of the Ebubeagu operatives was meant to get N1,000, PREMIUM TIMES learnt.
During the altercation, Mr Aja rushed for his rifle, but his colleague was said to have swiftly pulled a pistol, shot him in the head, and died instantly.
Ebubeagu Commander in Ebonyi State, Friday Nnana-Ujor, confirmed the death of the Ebubeagu operative on Monday.
He, however, said the attacker was not an operative of the security outfit.
"No, it was not an Ebubeagu person that shot him.
"It was people that packed (their car) behind a Sienna bus that killed him. The person that did that was sent to do so. People are thinking that it was an Ebubeagu personnel that killed the person, but it is not true.
"It is because the gun they used in killing the person was Pump Action. No Ebubeagu person goes to the rally ground with arms," Mr Nnana-Ujor said.
"We are investigating the matter and very soon we will arrest the culprit and call journalists to hear from him. I don't want people to think that it's politics. Just exercise some patience," he said.
Ebubeagu was set up by governors of the South-east to complement the efforts of security agencies in the region in crime-fighting.
Many people have, however, accused the security outfit of carrying out illegal arrests, abduction, torture and extra-judicial killings.
Ebubeagu operatives, like other security agencies, have been targets of deadly attacks by gunmen in the South-east
For instance, the pregnant wife of Ebubeagu commander in Afikpo South Local Government Area, Ebonyi State, was killed on New Year's Day.