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EFCC arrests ex-Minister Charles Ugwuh, 1 other over alleged N3.6bn fraud

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Ibrahim Ramalan
Ibrahim Ramalan
Ibrahim Ramalan is a graduate of Mass Communications from the Ahmadu Bello University (ABU) Zaria. With nearly a decade-long, active journalism practice, Mr Ramalan has been able to rise from a cub reporter to the exalted position of an editor; first as Arts Editor with the Blueprint Newspapers before resigning in 2019; second and presently as an Associate Editor of the Daily Nigerian online newspaper. He can be reached via ibroramalan@gmail.com, or www.facebook.com/ibrahim.ramalana, or @McRamalan on Twitter.
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The Economic and Financial Crimes Commission, EFCC, has arrested a former Minister of Commerce and Industry, Charles Ugwuh, over an alleged conspiracy and fraud to the tune of N3.6 billion.

EFCC Spokesperson, Dele Oyewale, told the News Agency of Nigeria in Abuja on Monday that Mr Ugwuh was arrested alongside Chief Geoffrey Ekenma on Jan. 11, in New Owerri, Imo.

Mr Ugwuh, an engineer, industrialist and a former President of Manufacturers Association of Nigeria, MAN, served as Minister of Commerce and Industry from July 2007 to October 2008.

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Mr Oyewale said that the arrest 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.

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“Investigations revealed that Ugwuh, a former President of Manufacturers Association of Nigeria, MAN, 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 suspects, 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,” he said.

Mr Oyewale said that the suspects would be charged to court as soon as investigations were concluded.
NAN

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