Abdulazeez Abdulwahab
OPERATIVES of the Economic and Financial Crimes Commission (EFCC) have arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, for an alleged conspiracy and fraud to the tune of Three Billion, Six Hundred Million Naira (N3.600,000,000.00) only.
Ugwuh was arrested alongside Chief Geoffrey Ekenma on 11th January 2024 at No.2, Musa Yar Adua Way, New Owerri, Imo State, following 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.
According to the EFCC, Investigations revealed that Ugwuh 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 suspect, according to the petitioner, failed to meet his obligations to the bank and all efforts to get him to repay the loan facility proved abortive.
The suspects would be charged in court as soon as investigations are concluded.
Charles Chukwuemeka Ugwuh headed the Nigerian Ministry of Commerce and Industry from July 2007 to October 2008. He is a member of the Peoples Democratic Party (PDP).
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