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Former-Minister Charles Ugwuh, One Other In EFCC Net Over Alleged N3.6bn Fraud
The EFCC stated that the suspects would be charged to court once investigations are concluded.
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Command, has arrested former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, and Chief Geoffrey Ekenma for alleged conspiracy and fraud amounting to N3.6 billion.
VerseNews reports that the arrest took place at No.2, Musa Yar Adua Way, New Owerri, Imo State, following a petition from a new generation bank regarding fraud linked to the company Ebony Agro Industries Ltd., associated with the ex-Minister.
The suspects, who obtained a loan facility from the bank for the purchase and production of polished rice, allegedly failed to fulfill their obligations and all efforts to get him to repay the loan facility proved abortive, prompting the arrest.
The EFCC stated that the suspects would be charged to court once investigations are concluded.
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