EFCC Arrests Ajudua for $1.43 Million Fraud After Supreme Court Revoked Bail

The Economic and Financial Crimes Commission (EFCC) has arrested Lagos socialite and businessman, Fred Ajudua, in connection with a $1.43 million fraud case.

According to reports, Ajudua’s arrest was made possible by a Supreme Court order, which revoked his bail and directed his remand at a correctional facility.

The EFCC had been investigating Ajudua for his alleged involvement in the fraud case, which dates back to 1993.

Ajudua’s legal troubles began over three decades ago, when he was first accused of defrauding a German businessman. Since then, he has faced multiple allegations of fraud, including defrauding two Dutch nationals of $1.69 million and allegedly collecting $8.4 million from a former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, in 2004.

The EFCC’s arrest of Ajudua is seen as a significant step towards bringing him to justice and recovering the allegedly stolen funds.

The commission has been cracking down on high-profile fraud cases in recent months, and Ajudua’s arrest is the latest in a series of moves to hold wealthy and influential individuals accountable for their actions.

Ajudua is currently being held in custody, pending his re-arraignment and trial.

The EFCC has promised to provide more updates on the case as it unfolds.