ABUJA — The Economic and Financial Crimes Commission (EFCC) has arrested Lagos-based businessman and socialite, Fred Ajudua, over an alleged $1.43 million advance-fee fraud, marking a significant development in a legal saga that has spanned over three decades.
Ajudua was apprehended on Tuesday in Abuja, days after the Supreme Court revoked his bail and ordered his immediate remand in a correctional facility. The court’s ruling, delivered on Friday, May 5, 2025, overturned an earlier decision by the Court of Appeal in Lagos which had granted him bail.
According to a top EFCC source who spoke with Vanguard, Ajudua is currently in the custody of the anti-graft agency pending his re-arraignment.
“Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Lagos-based socialite and businessman Fred Ajudua, pending his re-arraignment for an alleged $1.43 million fraud. He was arrested in Abuja on Tuesday and is currently in EFCC custody,” the source confirmed.
Ajudua’s legal troubles date back to 1993, when he was first accused of defrauding a German businessman of $1.43 million. The EFCC formally charged him in 2016 with a 28-count indictment bordering on conspiracy and obtaining money by false pretence.
His case has been fraught with delays, ranging from health-related bail requests to a botched arrest in 2007. The latest Supreme Court order signals a renewed judicial commitment to ensuring accountability in high-profile financial crime cases.
There are unconfirmed reports suggesting that Ajudua may have gone into hiding before his eventual arrest, raising fresh concerns about judicial compliance and enforcement mechanisms in Nigeria’s legal system.
As of press time, the EFCC has not issued an official statement regarding the arrest.
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