From Fred Itua, Abuja
Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) have arrested an 82-year-old former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, over an alleged fraud to the tune of N3.6 billion.
Ugwuh, who served in the administration of late President Umaru Musa Yar’Adua between 2007-2008, was arrested alongside Geoffrey Ekenma, on January 11, 2024, at No.2, Musa Yar Adua Way, New Owerri, Imo State, following a petition to the commission 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, the Managing Director, Ebony Agro Industries Ltd., allegedly obtained a loan facility from the bank for the purchase and production of polished rice.
The spokesman of the EFCC, Dele Oyewale, in a statement, said 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 noted that the suspects would be charged to court as soon as investigations are concluded.