The Economic and Financial Crimes Commission (EFCC) has arrested Lagos-based businessman and socialite, Fred Ajudua, in connection with an alleged \$1.43 million fraud.
Ajudua was picked up in Abuja on Tuesday following a Supreme Court order issued on May 5, 2025, which revoked his bail and directed that he be remanded in prison custody.
An EFCC source confirmed the arrest, saying Ajudua is currently in the custody of the commission, pending his re-arraignment.
This arrest adds a new chapter to a legal saga that dates back over three decades. Ajudua first came under public scrutiny in the 1990s for alleged involvement in advance-fee fraud.
The current case involves a \$1.43 million fraud charge filed against him in 1993, in which he is accused of defrauding a German businessman. Over the years, he has also faced other allegations, including defrauding two Dutch nationals of \$1.69 million between 1999 and 2000, and allegedly scamming former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, of \$8.4 million in 2004 while they were both held at Kirikiri Prison.
In 2016, the EFCC filed a 28-count charge against him for conspiracy and obtaining money by false pretence. The case has seen multiple delays due to health-related bail requests and legal technicalities.
Sources say Ajudua may have previously evaded arrest, raising questions about the enforcement of court rulings and the monitoring of high-profile suspects.
The Supreme Court’s recent ruling overturns a previous decision by the Court of Appeal in Lagos that had granted Ajudua bail, signaling a firm stance by the judiciary on high-profile financial crimes.