EFCC Arrests Lagos Businessman Fred Ajudua Over $1.43 Million Fraud Case
The Economic and Financial Crimes Commission (EFCC) has arrested Fred Ajudua, a prominent Lagos-based businessman and socialite, in connection with a longstanding $1.43 million (₦2.89bn) fraud case.
Supreme Court Orders Arrest
Ajudua was apprehended in Abuja on Tuesday following a Supreme Court order issued on May 5, 2025, which revoked his bail and directed his remand in the Correctional Service. According to Vanguard, a high-ranking EFCC source confirmed the arrest.
“Operatives of the Economic and Financial Crimes Commission have arrested Lagos-based socialite Fred Ajudua pending his re-arraignment for an alleged $1.43 million fraud. He was arrested in Abuja and is currently in EFCC custody,” the source revealed.
Decades-Long Legal Battle
This arrest marks the latest development in a legal saga spanning decades between Ajudua and the anti-corruption agency. The former socialite has faced multiple advance-fee fraud allegations since the 1990s.
The Supreme Court’s decision to revoke bail followed an earlier ruling by the Court of Appeal, Lagos Division, reflecting the judiciary’s commitment to accountability in high-profile fraud cases. There are indications Ajudua may have absconded before his arrest, raising questions about enforcement of judicial orders.
History of Fraud Allegations
Ajudua’s legal troubles began in 1993 when he was accused of defrauding a German businessman of $1.43 million. Subsequent allegations include:
- Defrauding two Dutch nationals of $1.69 million (1999-2000)
- Allegedly swindling former Chief of Army Staff Lt.-Gen. Ishaya Bamaiyi of $8.4 million in 2004 while both were detained at Kirikiri Prison
In 2016, the EFCC filed a 28-count charge against him for conspiracy and obtaining money by false pretenses. The case has faced numerous delays, including health-related bail applications and a failed arrest attempt in 2007.
EFCC Declines Comment
When contacted for comment, EFCC spokesperson Dele Oyewale declined to provide additional details about the arrest.
Credit: Intel Region