The Economic and Financial Crimes Commission (EFCC) has arrested Lagos socialite and businessman Fred Ajudua over an alleged $1.43 million fraud.
Ajudua was picked up in Abuja on Tuesday following a Supreme Court ruling on Friday, May 5, which revoked his bail and ordered that he be remanded in correctional custody.
Confirming the development, a source at the EFCC headquarters in Abuja told Vanguard: “Operatives of the Economic and Financial Crimes Commission (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 adds another twist to a long-running legal battle between Ajudua and the anti-graft agency.
The former socialite has been dogged by multiple fraud allegations since the 1990s.
The Supreme Court’s decision reversed an earlier ruling by the Court of Appeal, Lagos Division, which had granted Ajudua bail. The latest judgment signals the judiciary’s firm stance on high-profile fraud cases.
There are, however, indications that Ajudua may have gone into hiding before his arrest, raising questions about the enforcement of court orders.
His troubles began in 1993 when he was accused of defrauding a German businessman of $1.43 million.
More allegations followed, including a $1.69 million scam involving two Dutch nationals between 1999 and 2000, and a controversial case involving former Chief of Army Staff Ishaya Bamaiyi, who accused Ajudua of defrauding him of $8.4 million in 2004 while they were both in custody at Kirikiri Prison.
In 2016, the EFCC filed a 28-count charge against him for conspiracy and obtaining money by false pretence.
The case has faced several setbacks, including delays, health-related bail applications and a failed attempt to arrest him in 2007.