The Economic and Financial Crimes Commission (EFCC) has arrested a 57-year-old Abuja-based businessman, Innocent Ezuma, over allegations of defrauding a Ukrainian investor of more than $120 million.
Ezuma was arrested at his residence in Abuja on Monday, October 19, and remained in EFCC custody as of Tuesday, October 20.
The commission’s spokesperson, Dele Oyewale, confirmed the arrest but declined to provide further details about the investigation.
According to Punch, sources familiar with the case said Ezuma was being investigated for alleged advance fee fraud, breach of trust, obtaining money under false pretences, theft and money laundering.
The businessman allegedly received millions of dollars from the Ukrainian investor between 2007 and 2015 to finance mineral exploration and power projects that were never completed.
Investigators are also examining allegations that the funds were diverted for personal use, including transfers worth billions of naira to companies and individuals linked to Ezuma, among them his children.
Sources further alleged that Ezuma convinced two Ukrainian businessmen to finance the privatisation of Jos Steel Rolling Mill in Plateau State in the mid-2000s before taking control of the facility, disposing of its assets and leaving hundreds of workers without salaries.
He was also accused of seriously injuring a business partner during a confrontation in Ukraine on April 28, 2008, before returning to Nigeria. BuyMaps
The EFCC is reportedly expanding its investigation and seeking information from Ezuma’s former business associates and members of the public.