The Economic and Financial Crimes Commission has arrested an Abuja-based businessman, Innocent Ezuma, 57, over allegations of defrauding a Ukrainian investor of more than $120m.
Ezuma was arrested at his residence in Abuja on Monday, October 19, and remained in the commission’s custody as of Tuesday.
The EFCC spokesperson, Dele Oyewale, confirmed the arrest to our correspondent when contacted on Tuesday but declined to provide further details.
Sources, however, said the businessman was being investigated for alleged advance fee fraud, criminal breach of trust, criminal conversion, obtaining money under false pretences, theft and money laundering.
According to one of the sources, Ezuma allegedly obtained millions of dollars from the Ukrainian investor between 2007 and 2015 for mineral exploration and power projects that were never delivered.
The source alleged that the funds were diverted for personal use, while investigators were examining transfers worth billions of naira to companies and individuals linked to the businessman, including his children.
Another source said the commission was expanding its investigation and seeking information from members of the public and the businessman’s former associates.
The source added that the allegations also concerned Ezuma’s previous business dealings in Ukraine and Nigeria.
“In the mid-2000s, he allegedly persuaded two Ukrainian businessmen to finance the privatisation of Jos Steel Rolling Mill in Plateau State before taking exclusive control of the facility, stripping it of assets and abandoning hundreds of workers without wages,” the source said.
The businessman was also accused of shooting and seriously injuring one of his business partners during a confrontation in Ukraine on April 28, 2008, before fleeing to Nigeria, the source added.
Oyewale reiterated that the agency arrested Ezuma at his Abuja residence on Monday but declined to disclose further details about the investigation.
