BREAKING: EFCC Arrests Former Minister For Loan Fraud Involving N3.6b

The Economic and Financial Crimes Commission (EFCC) has arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, for alleged conspiracy and loan fraud of about N3.6 billion.

According to a statement by the Head of Media and Publicity of the commission, Dele Oyewale, the ex-minister was arrested with Chief Geoffrey Ekenma on January 11, 2024, at No.2, Musa Yar Adua Way, New Owerri, Imo State.

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“However, the suspect, 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. The suspects would be charged to court as soon as investigations are concluded.”

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