From Power to Prosecution: EFCC Arrests Udom Emmanuel for Alleged N700bn Loot

Operatives of the Economic and Financial Crimes Commission have arrested a former governor of Akwa Ibom State, Udom Emmanuel, over an alleged N700 billion fraud.

Emmanuel, who served as governor between 2015 and 2023, reportedly arrived at the EFCC’s corporate headquarters in Abuja around 12:30 p.m. on Tuesday following an invitation from the anti-graft agency.

A source, who spoke on condition of anonymity because he was not authorized to speak to the press, told our correspondent that Emmanuel was arrested after honoring the EFCC’s invitation to answer allegations of money laundering, diversion of funds, and stealing.

“We have arrested the former governor of Akwa Ibom over an alleged N700 billion fraud.

“A civil society organization called the Network Against Corruption and Trafficking petitioned the EFCC, prompting our investigation,” the source said.

He added, “The petitioner alleged that Emmanuel received N3 trillion from the Federation Account over eight years but left behind a debt profile of N500 billion and unpaid ongoing projects worth N300 billion. He was also alleged to be unable to account for N700 billion.

“Emmanuel arrived at our office around 12:30 p.m. and was arrested shortly after.”

The source further revealed that investigations uncovered the withdrawal of N31 billion in cash from a single account named “Office of the Governor.”

He added, “Over investigations have uncovered the withdrawal of N31bn in cash in one single account. The name of the account is Office of the Governor. The money was withdrawn in cash progressively between 2019 and 2023.”

Efforts to reach the EFCC’s Head of Media and Publicity, Dele Oyewale, were unsuccessful, as calls to his number indicated that it was switched off at the time of filing this report.