EFCC arrests Abuja businessman over alleged $120m fraud involving Ukrainian investor
The Economic and Financial Crimes Commission (EFCC) has arrested Abuja-based businessman Innocent Ezuma over allegations of defrauding a Ukrainian investor of more than $120 million.
The commission’s spokesperson, Dele Oyewale, confirmed the arrest on Tuesday, saying the 57-year-old was apprehended at his Abuja residence on Monday and remained in custody.
“He was arrested. He is in our custody and investigations are ongoing,” Oyewale said.
Investigators are investigating Ezuma over alleged advance fee fraud, criminal breach of trust, criminal conversion, obtaining money under false pretences, theft, and money laundering.
The businessman allegedly received funds from the Ukrainian investor between 2007 and 2015 to finance mineral exploration and power projects that were never executed.
The funds were allegedly diverted for personal use, while investigators are examining the movement of billions of naira to companies and individuals linked to Ezuma, including his children.
The investigation also covers his business dealings in Nigeria and Ukraine, including a transaction involving the Jos Steel Rolling Mill in Plateau State.
Ezuma was also accused of obtaining financial support from two Ukrainian businessmen to acquire the Jos Steel Rolling Mill in Plateau State during its privatisation process, before allegedly taking sole control of the plant.
