By Abiola Olawale
The Economic and Financial Crimes Commission (EFCC) has reportedly arrested a Lagos-based socialite and businessman, Fred Ajudua, in Abuja, over an alleged connection with an alleged $1.43 million fraud.
The reported arrest, which was said to have taken place on Tuesday, May 13, 2025, follows a Supreme Court order issued on May 9, 2025, revoking Ajudua’s bail and mandating his remand in a correctional facility.
According to reports, Ajudua was reportedly detained pending his re-arraignment for allegedly defrauding a Palestinian businessman, Zad Abu Zalaf, of $1.043 million in 1993.
The arrest marks the latest chapter in a legal battle spanning decades between Ajudua and the anti-corruption agency.
The EFCC had alleged that Ajudua, alongside an accomplice, Joseph Ochunor (currently at large), forged documents from the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC) to perpetrate the scam.
Additional charges involve the alleged defrauding of two Dutch nationals of $1.69 million between 1999 and 2000 and the swindling of former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, of $8.4 million in 2004 while both were detained at Kirikiri Prison.
Fred Ajudua’s legal troubles date back to 1993 when he was first accused of defrauding a German businessman.
The case has faced numerous delays, with Ajudua reportedly failing to appear in court on at least 24 occasions between 2005 and 2009, leading to the case being struck out in 2009.
It was reinstated in 2017 following the EFCC’s application.
