Crime
Former Commerce Minister Arrested in N3.6bn Fraud Case
The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) apprehended Charles Chukwuemeka Ugwuh, a former Minister of Commerce and Industry, alongside Chief Geoffrey Ekenma on January 11, 2024.
The arrest follows an alleged conspiracy and fraud totaling N3.6bn, as reported in a petition from a new generation bank.
READ ALSO: EFCC Reopens Money Laundering Cases For 13 Former Governors And Ministers.
The arrest took place at No.2, Musa Yar Adua way, New Owerri, Imo State. Investigations revealed that the duo, linked to the company Ebony Agro Industries Ltd., purportedly secured a loan facility from the bank for the purchase and production of polished rice.
The petitioner claims that Ugwuh failed to fulfill his obligations, leading to unsuccessful attempts to recover the loan. Both suspects are expected to face court charges in the coming days.
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