EFCC arrests ex-governor Udom Emmanuel for alleged N700bn fraud

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Udom Emmanuel, former Akwa Ibom State Governor, over an alleged N700 billion fraud.

The ex-Governor was arrested after honouring an EFCC invitation on Tuesday to respond to charges of money laundering, diversion of funds, and theft, as alleged by the Network Against Corruption and Trafficking (NCAT).

He arrived at the EFCC office at around 12:30 pm.

Investigations by the commission have reportedly uncovered the withdrawal of N31 billion in cash from a single account named Office of the Governor. The money was allegedly withdrawn in cash progressively between 2019 and 2023.

The petitioner alleged that Emmanuel received N3 trillion from the Federation Account over eight years but left a debt profile of N500 billion and unpaid ongoing projects worth N300 billion. He is also accused of failing to account for N700 billion.

EFCC’s investigations are ongoing, with Emmanuel currently being interrogated by operatives.

Mr. Dele Oyewale, spokesperson for the EFCC, was unavailable for comment when contacted.