 in connection with a suspected $1.43 million fraud.){kind=link}
Fred Ajudua, a Lagos-based businessman and socialite, has been apprehended by the Economic and Financial Crimes Commission (EFCC) in connection with a suspected $1.43 million fraud.
The arrest occurred in Abuja on Tuesday, following a Supreme Court ruling on May 5, 2025, that revoked his bail and ordered his detention in the Correctional Service.
An EFCC source, who spoke on the condition of anonymity, confirmed the development to Vanguard on Tuesday evening.
“Fred Ajudua, a Lagos socialite and businessman, has been arrested in Abuja by EFCC operatives and is currently in their custody, awaiting re-arraignment for alleged fraud,” the source revealed.
This arrest adds to the long-standing legal struggles faced by Ajudua, who has been involved in multiple fraud allegations since the 1990s.
The Supreme Court’s decision to revoke his bail came after the Court of Appeal in Lagos had previously granted him bail, signaling a strong stance by the judiciary in pursuing justice for high-profile fraud cases.
There are also reports suggesting that Ajudua might have fled before his arrest, prompting concerns about the enforcement of judicial orders and the overall effectiveness of compliance mechanisms.
Ajudua’s legal issues began in 1993 when he was accused of defrauding a German businessman of $1.43 million.
Additional accusations followed, including claims that he swindled two Dutch nationals out of $1.69 million between 1999 and 2000, and allegedly defrauded former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, of $8.4 million in 2004 while both were incarcerated at Kirikiri Prison.
In 2016, the EFCC brought a 28-count charge against Ajudua for conspiracy and obtaining money under false pretenses. However, the case has been marred by continuous delays, medical bail requests, and an earlier failed arrest attempt in 2007.
When approached for a comment, EFCC spokesperson Dele Oyewale declined to provide additional details about Ajudua’s recent arrest.