The Economic and Financial Crimes Commission (EFCC) has arrested Lagos businessman and socialite Fred Ajudua in Abuja over allegations linked to a $1.43 million fraud. His arrest followed a Supreme Court ruling on May 5, 2025, which cancelled his bail and ordered that he be taken into custody.
A source within the EFCC, who requested anonymity, confirmed the arrest on Tuesday evening, stating that Ajudua is currently being held in EFCC custody pending his re-arraignment.
This arrest adds to Ajudua’s long history of legal battles with the anti-graft agency, stretching back to the 1990s. The Supreme Court’s decision came after the Court of Appeal in Lagos had previously granted him bail. The new ruling is seen as part of an effort to strengthen accountability in major fraud cases.
Reports also suggest Ajudua may have attempted to evade arrest before being located in Abuja, prompting renewed concerns about the enforcement of court directives.
Ajudua’s troubles with the law began in 1993 when he was accused of defrauding a German national of $1.43 million. Over the years, further allegations emerged, including claims that he duped two Dutch citizens of $1.69 million between 1999 and 2000, and allegedly deceived former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, out of $8.4 million in 2004 while they were both held at Kirikiri Prison.
In 2016, the EFCC brought 28 charges against him, including conspiracy and obtaining money under false pretenses. However, the case has seen numerous delays, health-related bail applications, and a previously failed arrest attempt in 2007.
When reached for comment, EFCC spokesperson Dele Oyewale declined to disclose further information about the situation.
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