Nigeria’s ex-Minister, 1 other arrested over alleged N3.6b fraud
By KEMI KASUMU
The Economic and Financial Crimes Commission (EFCC) has announced the arrest of a former Nigeria’s Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, over alleged N3.6 billion fraud and conspiracy.
The EFCC, in a statement posted on its official X handle, on Monday January 15, 2024, said that the ex-minister was arrested its operatives of the Lagos Zonal Command alongside one Geoffrey Ekenma on January 11, at No.2, Musa Yar Adua Way, New Owerri, Imo State.
Their arrest, the anti-graft agency said, followed a petition received from a new generation bank on the alleged fraud perpetrated through a company, Ebony Agro Industries Ltd., linked to the ex-Minister.
“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 up his obligations to the bank and all efforts to get him to repay the loan facility proved abortive,” the statement said.
The EFCC said that the suspects would be charged to court as soon as investigations are concluded.
The DEFENDER reports that Charles Chukwuemeka Ugwuh, born 3 December 1942, is an engineer and industrialist, who served as the Nigerian Ministry of Commerce and Industry from July 2007 through October 2008.
