The Economic and Financial Crimes Commission (EFCC) announced that its operatives in Lagos have apprehended ex-Minister Charles Chukwuemeka Ugwuh for an alleged N3.6 billion conspiracy and fraud in the Commerce and Industry sector.
EFCC’s Head of Media and Publicity, Dele Oyewale, disclosed on Monday that Charles Chukwuemeka Ugwuh and Chief Geoffrey Ekenma were arrested on January 11, 2024, at No.2, Musa Yar Adua Way, New Owerri, Imo State.
According to Oyewale, the arrest resulted from a petition by a new generation bank to the Commission. The petition outlined alleged fraud involving a company, Ebony Agro Industries Ltd., connected to the former Minister.
The statement said:
- “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 up his obligations to the bank and all efforts to get him to repay the loan facility proved abortive.”
EFCC said the suspects would be charged to court as soon as investigations are concluded.
What you should know
- Charles Ugwuh was a former president of the Manufacturers’ Association of Nigeria (MAN) in the Peoples Democratic Party, PDP primaries for Imo State governor in the April 2007 elections.
- He lost the primary but was appointed Minister for Commerce & Industry 2007 by the late President Umaru Yar’Adua.
- In September 2007, Charles Ugwuh headed a Nigerian delegation to China for a “Nigeria-China Business and Investment Forum”. He noted the expanding investment from China and expressed hopes that both sides will continue to push economic and trade cooperation to a new level.
- Meanwhile, On 29 October 2008, President Umaru Yar’Adua sacked 20 members of his cabinet, including Charles Ugwuh.
