Alleged N3.6bn fraud: EFCC arrests former minister, one other 

THE Economic and Financial Crimes Commission (EFCC) has arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh and one other for alleged conspiracy and fraud totalling N3.6 billion.

The commission said operatives from its Lagos zonal command carried out the arrest.

It said the suspects would be charged in court as soon as investigations are concluded.

The EFCC Head of Media and Publicity, Dele Oyewale, disclosed this in a statement released on X on Monday, January 15.

Oyewale stated that Ugwuh was arrested alongside Geoffrey Ekenma on January 11, 2024, at No.2, Musa Yar Adua Way, New Owerri, Imo state.

He stated that a new generation bank had petitioned the commission about the alleged fraud through a company connected to the former minister, Ebony Agro Industries Ltd., which led to their arrest and detention.

The anti-graft agency claims that after conducting investigations, it was discovered that Ugwuh and Ekenma, the managing director of Ebony Agro Industries Ltd., had purportedly secured a bank loan facility to buy and produce polished rice.

According to Oyewale, the petitioner claimed that the suspect defaulted in paying the loan, adding all attempts to compel him to return the facility were unsuccessful.

The EFCC said the accused would face charges in court as soon as the investigations are concluded.

Ugwuh served as Minister of Commerce and Industry in the administration of late President Umaru Musa Yar’adua.

The ICIR reported that the EFCC arraigned the former minister of power and steel development, Olu Agunloye, before a Federal Capital Territory (FCT) High Court in Abuja.






     

     

    The EFCC made this known in a post on its X account on Wednesday, January 10.

    Agunloye served as minister under former President Olusegun Obasanjo between 1999 and 2003.

    On December 13, the Commission declared him wanted over an alleged $6 billion fraud.

    Meanwhile, in its Wednesday statement, EFCC stated that the ex-minister was arraigned on a seven-count charge bordering on fraudulent contract awards and other corrupt acts. 

     

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