EFCC Arrests Ex-Minister, One Other For Alleged N3.6bn Fraud

By
Kazeem Tunde
-
24
EFCC OFFICE
CaptionsPic 6 Head Office Complex of the Economic and Financial Crimes Commission (EFCC) inaugurated by President Muhammadu Buhari in Abuja on Tuesday (15/5/18)02538/15/5/2018/Callistus Ewelike/NANPic 7. From left: Secretary General, Commonwealth Agencies of Africa, Ms. Patricia Scotland; Former President of South Africa, Mr Thabo Mbeki; President Muhammadu Buhari and the Chairman, Economic and Financial Crimes Commission (EFCC) Mr Ibrahim Magu during the inauguration of EFCC Head OFFICE Complex in Abuja on Tuesday (15/5/18)02539/15/5/2018/Callistus Ewelike/NANPic 8. From left: Secretary General, Commonwealth Agencies of Africa, Ms. Patricia Scotland; Former President of South Africa, Mr Thabo Mbeki; President Muhammadu Buhari; Speaker, House of Representatives, Yakubu Dogara; Secretary to the Government of the Federation, Mr Boss Mustapha and the Chairman, Economic and Financial Crimes Commission (EFCC) during the inauguration of EFCC Head OFFICE Complex in Abuja on Tuesday (15/5/18)02540/15/5/2018/Callistus Ewelike/NAN

EFCC Arrests Ex-Minister, One Other For Alleged N3.6bn Fraud

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, for an alleged conspiracy and fraud to the tune of N3.6bn.

Ugwuh was arrested alongside Chief Geoffrey Ekenma on January 11, 2024 at No.2, Musa Yar Adua way, New Owerri, Imo State, following a petition to the Commission from a new generation bank on the alleged fraud perpetrated through a company, Ebony Agro Industries Ltd., linked to the ex-Minister.

Investigations revealed that Ugwuh and Ekenma, Managing Director, Ebony Agro Industries Ltd., allegedly obtained a loan facility from the bank for the purchase and production of polished rice.

However, the suspect, according to the petitioner, failed to meet up his obligations to the bank and all efforts to get him to repay the loan facility proved abortive.

The suspects would be charged to court as soon as investigations are concluded.

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