Crimes

EFCC arrests ex-Minister Charles Ugwuh over N3.6bn debt

A former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, has been arrested for an alleged “conspiracy and fraud” to the tune of N3.6 billion.

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) arrested Ugwuh alongside Chief Geoffrey Ekenma on January 11, 2024 at No.2, Musa Yar Adua way, New Owerri, Imo State.

The arrest followed 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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EFCC spokesman, Dele Oyewale, in a statement on Monday, January 15, stated that 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 Star

Editor

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