The Economic and Financial Crimes Commission (EFCC) has apprehended Fred Ajudua, a prominent businessman and socialite based in Lagos, following an alleged $1.43 million fraud case.
The arrest occurred in Abuja on Tuesday, May 13, 2025, after the Supreme Court revoked his bail in a ruling made on May 5, 2025, and ordered that he be detained in prison until further proceedings. This latest action adds another layer to a long-standing legal battle that has seen Ajudua at the center of numerous fraud allegations over the years.
A highly placed EFCC official, who chose to remain anonymous, confirmed the arrest. The source revealed to reporters that Ajudua, who had previously been granted bail by the Court of Appeal in Lagos, was taken into custody after the Supreme Court decision overturned that ruling.
“Operatives of EFCC have arrested Lagos-based socialite and businessman, Fred Ajudua, pending his re-arraignment for an alleged $1.43 million fraud. He was arrested in Abuja on Tuesday and is currently in EFCC custody,” the source disclosed.
The arrest of Ajudua marks a new chapter in a legal saga that has persisted for decades. His legal troubles began in 1993 when he was accused of defrauding a German businessman of $1.43 million.
Over the years, Ajudua has faced several other accusations, including defrauding two Dutch nationals of $1.69 million in the late 1990s and allegedly swindling Lt.-Gen. Ishaya Bamaiyi, former Chief of Army Staff, of $8.4 million while both were incarcerated at Kirikiri prison in 2004.
The case, which has been ongoing for years, has been riddled with numerous delays. In 2016, the EFCC filed a 28-count charge against Ajudua, accusing him of conspiracy and obtaining money under false pretenses.
Despite these serious charges, Ajudua has managed to secure multiple delays, often citing health concerns as the basis for his bail requests. One of the most notable incidents occurred in 2007 when an attempt to arrest him failed.
The latest ruling by the Supreme Court and Ajudua’s arrest underline the judiciary’s commitment to bringing high-profile fraud cases to trial, irrespective of the years of legal back-and-forth.
