BREAKING: Why EFCC Arrested Ex-Minister, Charles Ugwuh | READ DETAILS
Faith Ukanwa
Jan 15, 2024
BREAKING: Why EFCC Arrested Ex-Minister, Charles Ugwuh | READ DETAILS
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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).
[caption id="" align="alignnone" width="299"] Charles Chukwuemeka Ugwuh[/caption]
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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.
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[caption id="" align="alignnone" width="330"] Chief Geoffrey Ekenma[/caption]
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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.
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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.
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"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.
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The suspects would be charged to court as soon as investigations are concluded" the release added.
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— Faith Ukanwa