The Economic and Financial Crimes Commission (EFCC) has said its operatives in Lagos have arrested a former minister, Charles Chukwuemeka Ugwuh, over an alleged N3.6 billion conspiracy and fraud in the commercial and industrial sector.
EFCC Head of Media and Publicity, Dele Oyewale, on Monday announced that Charles Chukwuemeka Ugwuh and Chief Geoffrey Ekenma were arrested on January 11, 2024 at No. 2, Musa Yar Adua Way, New Owerri, Imo State.According to Oyewale, the arrest was the result of a petition to the New Generation Bank Commission. The petition detailed the fraud involving Ebony Agro Industries Ltd, a company linked to the former minister.The statement said:“Investigations revealed that Ugwuh and Ebony Agro Industries Ltd. managing director Ekenma allegedly obtained a loan from a bank to buy and produce polished rice.”However, according to the petitioner, the suspect did not fulfill his obligations to the bank and all attempts to repay him the loan proved unsuccessful.”The EFCC said the suspects will be charged as soon as investigations are concluded..
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