EFCC apprehends fred Ajudua over suspected involvement in $1.43m Fraud

Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested a Lagos- based socialite and businessman, Fred Ajudua in connection with a festering $1.43 million fraud case.

The arrest was made in Abuja on Tuesday and is in the custody of the EFCC pending his re-arraignment.

The arrest is not unconnected with a Supreme Court ruling on May 5, 2025, which revoked an earlier bail granted him by the Court of Appeal, Lagos Division.

EFCC Spokesperson, Dele Oyewale, declined to comment on the arrest though a source at the EFCC headquarters, speaking anonymously, confirmed the development.

According to the source, Ajudua was taken into custody pending his re-arraignment on the fraud charges.

Ajudua’s legal troubles stretch back decades, with numerous allegations of advance-fee fraud dating to the 1990s.

There are reports suggesting Ajudua may have evaded arrest for some time, prompting concerns about the enforcement of court orders and the robustness of judicial compliance mechanisms.

The fraud case that led to his initial prosecution involved a German businessman allegedly defrauded of $1.43 million in 1993.

Ajudua has also been accused of swindling two Dutch nationals of $1.69 million between 1999 and 2000, and of defrauding former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, of $8.4 million in 2004 during their time in Kirikiri Prison.

In 2016, the EFCC filed a 28-count charge against him for conspiracy and obtaining money under false pretenses.

That case has faced multiple delays over the years, including health-related bail applications and an unsuccessful arrest attempt in 2007.