Alleged $1.4m Fraud : Why EFCC Arrested Fred Ajudua In Abuja
The Economic and Financial Crimes Commission, EFCC, has arrested Fred Ajudua, a Lagos-based socialite and businessman, in connection with an alleged $1.43 million fraud.
The arrest took place in Abuja, yesterday, following a Supreme Court order issued on May 5, 2025, which revoked his bail and directed that he be remanded in prison custody.
A highly placed source at the EFCC headquarters in Abuja, who spoke in confidence, on the development, yesterday evening.
The source said: “Operatives of EFCC have arrested Lagos-based socialite and businessman, Fred Ajudua, pending his re-arraignment for an alleged $1.43 million fraud. He was arrested in Abuja on Tuesday and is currently in EFCC custody.”
The arrest marks the latest chapter in a legal battle spanning decades between Ajudua and the anti-corruption agency.
Ajudua has faced numerous allegations of advance-fee fraud since the 1990s.
The Supreme Court’s decision to revoke his bail followed an earlier ruling by the Court of Appeal, Lagos Division, which had granted him bail.
The apex court’s ruling reflects the judiciary’s resolve to uphold accountability in high-profile fraud cases.
Ajudua’s legal troubles dates back to 1993, when he was accused of defrauding a German businessman of $1.43 million.
He has since faced further 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 detained at Kirikiri prison.
In 2016, the EFCC filed a 28-count charge against him for conspiracy and obtaining money by false pretences. The case has been plagued by repeated delays, health-related bail applications, and a failed arrest attempt in 2007.
When contacted for comment, EFCC spokesperson, Dele Oyewale declined to provide further details regarding the arrest.
