The Economic and Financial Crimes Commission (EFCC) has arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, for alleged conspiracy and loan fraud of about N3.6 billion.
According to a statement by the Head of Media and Publicity of the commission, Dele Oyewale, the ex-minister was arrested with Chief Geoffrey Ekenma on January 11, 2024, at No.2, Musa Yar Adua Way, New Owerri, Imo State.
The arrest of the two suspects was said to have followed “a petition to the commission from a new generation bank on the alleged fraud perpetrated through a company, Ebony Agro Industries Ltd., linked to the ex-minister.
The statement said: “Investigations revealed that Ugwuh and Ekenma, Managing Director, Ebony Agro Industries Ltd., allegedly obtained a loan facility from the bank for the purchase and production of polished rice.
“However, the suspect, according to the petitioner, failed to meet up his obligations to the bank and all efforts to get him to repay the loan facility proved abortive. The suspects would be charged to court as soon as investigations are concluded.” CONTINUE READING…………….
VOICE AIR MEDIA – Osun Online Investigative Reporting Platform Of The Year (2023), Courtesy Osun Online Publishers (OOPA).
FOR your Advert Placement, Press Release, Conference, Featured Story, Interviews, Media & Publicity And Happenings Around You
Contact: 0811142174 (WhatsApp too), voiceairmedia@gmail.com.
...Cleric Preaches Generosity, Obedience ...As Beneficiaries Shower Encomiums An Osogbo-born successful young entrepreneur and astute…
THE Peoples Democratic Party has recorded a major victory in the Gwagwalada Area Council election…
Osun Payroll: UNIOSUN To Seek Legal Action Over Audit Report Of Consultant On VC, Staff…
News Update There is a palpable tension among Residents of Eleyewo in the Ilu-Abo area…
News Update The Nigeria Union of Journalists, Osun State Council warmly congratulates His Imperial Majesty,…
THE police command in Ondo State says it arrested 13 suspects linked to the All…