Thursday, 18 July 2024.

Top 5 This Week

Related News

Former Minister in EFCC net over alleged N3.6bn fraud

By Joe Udo

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

Ugwuh was arrested alongside Chief Geoffrey Ekenma on 11 January 2024 by the Lagos Zonal Command EFCC Officials 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.

Former Minister in EFCC net over alleged N3.6bn fraud
Charles Chukwuemeka Ugwuh and Chief Geoffrey Ekenma

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.

READ ALSO | Security of Cross Riverians remains my top priority – Gov Otu

“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,” a statement by the EFCC said.

Get Faster News Update By Joining Our: WhatsApp Channel

Joe Udo
Joe Udo
Joe Udo is a creative writer and a Blogger with several years of experience.

Latest News