BREAKING: EFCC arrested Lagos-based businessman Fred Ajudua in Abuja over alleged N2.89bn ($1.43m) fraud.
Fred Ajudua, a businessman and socialite from Lagos, has been arrested by the Economic and Financial Crimes Commission (EFCC) in connection with a long-standing fraud case involving $1.43 million (approximately 2.89 billion naira).
His arrest occurred in Abuja on Tuesday, following a Supreme Court order issued on May 5, 2025, which revoked his bail and mandated that he be held in the Correctional Service.
This information was confirmed by a reliable source at the EFCC headquarters in Abuja.
According to the source, “EFCC operatives have arrested Lagos-based socialite and businessman Fred Ajudua, pending his re-arraignment for an alleged $1.43 million fraud. He was taken into custody in Abuja on Tuesday.”
This arrest adds another chapter to Ajudua’s lengthy legal battle with the anti-corruption agency, which has spanned decades. Once a prominent socialite, Ajudua has faced multiple allegations of advance-fee fraud since the 1990s.
The Supreme Court’s decision to revoke his bail came after an earlier ruling by the Court of Appeal in Lagos, which had granted him bail.
The apex court’s ruling underscores the judiciary’s commitment to ensuring accountability in high-profile fraud cases.
There are concerns that Ajudua may have attempted to flee before his arrest, raising questions about the enforcement of judicial orders and the effectiveness of compliance measures.
Ajudua’s legal issues date back to 1993, when he was accused of defrauding a German businessman of $1.43 million. He has faced additional allegations, including defrauding two Dutch nationals of $1.69 million between 1999 and 2000, and allegedly swindling former Chief of Army Staff Lt.-Gen. Ishaya Bamaiyi of $8.4 million in 2004 while both were incarcerated at Kirikiri Prison.
In 2016, the EFCC filed a 28-count charge against him for conspiracy and obtaining money under false pretenses. The case has experienced numerous delays, health-related bail applications, and a failed arrest attempt in 2007.
When asked for comments, EFCC spokesperson Dele Oyewale declined to provide further details about the arrest.
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