The Economic and Financial Crimes Commission (EFCC) has arrested former Akwa Ibom State Governor, Udom Emmanuel, over an alleged N700 billion fraud.
Money Laundering, Diversion of Funds Allegations
Emmanuel was taken into custody after honoring an EFCC invitation on Tuesday to respond to allegations of money laundering, fund diversion, and embezzlement. The charges were filed by the Network Against Corruption and Trafficking (NCAT).
He arrived at the EFCC headquarters at about 12:30 PM for questioning.
N31 Billion Cash Withdrawal Uncovered
Investigations by the EFCC reportedly traced a staggering N31 billion withdrawal from a single account named “Office of the Governor.” The funds were allegedly withdrawn in cash between 2019 and 2023.
Petitioners claim that during his eight-year tenure, Emmanuel received N3 trillion from the Federation Account but left the state with:
A debt burden of N500 billion
Uncompleted projects worth N300 billion
Unaccounted funds totaling N700 billion
The EFCC has confirmed that interrogations are ongoing, with Emmanuel being grilled by investigators.
Efforts to reach EFCC spokesperson, Dele Oyewale, for comments were unsuccessful.
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