BREAKING: Why EFCC Arrested Ex-Minister, Charles Ugwuh | READ DETAILS
A former minister for Commerce and Industry, Charles Chukwuemeka Ugwuh, has been arrested by operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC).
Ugwuh was arrested alongside Chief Geoffrey Ekenma on January 11, 2024 at No.2, Musa Yar Adua way, New Owerri, Imo State, over alleged N3.6billion fraud.
The duos arrest follows 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.
According to a release by the EFCC, investigations revealed that Ugwuh and Ekenma, Managing Director, Ebony Agro Industries Ltd., allegedly obtained a loan facility from the bank for the purchase and production of polished rice.
“However, 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 suspects would be charged to court as soon as investigations are concluded” the release added.
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