Breaking News

EFCC Arrests Ex-Minister, Charles Ugwuh, One Other for Alleged N3.6bn Fraud

Written by Admin


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

A statement by the Head, Media and Publicity EFCC,Mr Dele Oyewale says Ugwuh was arrested alongside Chief Geoffrey Ekenma on in Imo State, following a petition by the Commission from a new generation bank on the alleged fraud perpetrated through a private Agro Industries linked to the ex-Minister.

Investigations revealed that Ugwuh and Ekenma, Managing Director, Ebonyi 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 suspects would be charged to court as soon as investigations are concluded.


Leave a Comment