BREAKING: Former Minister Arrested For Alleged N3.6b Loan Fraud
- EFCC operatives have arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh
- The anti-graft agency said Ugwuh was arrested over alleged conspiracy and loan fraud of about N3.6 billion
- According to the EFCC, Ugwuh was arrested with Chief Geoffrey Ekenma on January 11, 2024, in Owerri, Imo state.
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FCT, Abuja - A former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, has been arrested for alleged conspiracy and loan fraud of about N3.6 billion.
The Head of Media and Publicity of the Economic and Financial Crimes Commission (EFCC), Dele Oyewale disclosed this in a statement.
Source: Twitter
This was contained in a statement issued by the anti-graft agency via its X page (formerly known as Twitter) @officialEFCC, on Monday, January 15.
Oyewale said Ugwuh was arrested with Chief Geoffrey Ekenma on January 11, 2024, at No.2, Musa Yar Adua Way, New Owerri, Imo State.
The statement said:
“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 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.”
Court begins trial of ex-minister Agunloye
Meanwhile, Legit.ng reported that an FCT high court, Apo, Abuja, commenced the trial of a former minister of Power and Steel Development, Olu Agunloye.
This development was confirmed in a statement released by the EFCC on Friday, January 12, and Justice J. O. Onwuegbuzie would preside over the trial.
Agunloye is facing trial from the EFCC on seven charges related to the fraudulent award of contracts and official corruption, amounting to $6 billion.
These charges violate Section 22(4) of the Corrupt Practices and Other Related Offences Act of 2000.
EFCC says it'll revisit Tinubu’s minister fraud case
EFCC reacted to the alleged N70 billion fraud case against the minister of State for Defence, Bello Matawalle, while he was the governor of Zamfara state.
The EFCC’s acting Director of Public Affairs, Wilson Uwajuren, said the anti-graft agency will revisit the fraud against Matawalle.
Uwajuren stated this while addressing protesters under the ageis of Zamfara Alternative Forum (ZAF) on Friday, January, 12.
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Source: Legit.ng
