Notorious businessman taken into custody in Abuja ahead of re-arraignment by EFCC
The Economic and Financial Crimes Commission (EFCC) has arrested Lagos-based businessman and controversial socialite, Fred Ajudua, days after the Supreme Court revoked his bail in connection with a longstanding $1.43 million fraud case.
Ajudua was taken into custody in Abuja on Tuesday, marking a significant turn in a case that has dragged on for more than three decades.
The arrest follows a ruling delivered by the apex court on Friday, May 9, 2025, which overturned an earlier judgment by the Lagos Division of the Court of Appeal that had allowed Ajudua to remain on bail.
An EFCC official, who spoke to Vanguard under condition of anonymity, confirmed the development.
“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 source said.
Ajudua has long been linked to numerous advance-fee fraud cases, dating back to the 1990s. His most prominent case involves the alleged defrauding of a German businessman of $1.43 million in 1993.
He also stands accused of swindling two Dutch nationals out of $1.69 million between 1999 and 2000, as well as allegedly defrauding former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, of $8.4 million while both were inmates at Kirikiri Prison in 2004.
In 2016, the EFCC filed a 28-count charge against him, including conspiracy and obtaining money by false pretence. However, the case has suffered multiple delays due to health-related bail applications, court appeals, and an unsuccessful arrest attempt in 2007.
Following the Supreme Court’s recent order, reports emerged suggesting that Ajudua had gone into hiding to avoid arrest. His capture in Abuja on Tuesday ends weeks of speculation about his whereabouts.
The EFCC has yet to announce a date for his re-arraignment, but officials say preparations are underway to resume legal proceedings against the embattled businessman.
