EFCC arrests Abuja businessman for defrauding Ukrainian investor of $120m

The Economic and Financial Crimes Commission (EFCC) has arrested an Abuja businessman named Innocent Ezuma for allegedly defrauding a Ukrainian investor of over $120 million. The 57-year-old businessman was apprehended at his residence in Abuja on Monday, October 19, and is currently in custody. Dele Oyewale, a spokesman for the EFCC, confirmed the arrest to our correspondent on Tuesday.

Sources suggest that Ezuma was charged with various offenses, including advance fee fraud, criminal breach of trust, criminal conversion, obtaining money under false pretenses, theft, and money laundering. The alleged victim reportedly lost the funds between 2007 and 2015 for mineral exploration and power projects that were never delivered.

The EFCC is investigating the diversion of these funds for personal use and examining billions of naira transfers to companies and individuals connected to the businessman, including his children. Additionally, the commission is expanding its probe into Ezuma's previous business dealings in Ukraine and Nigeria, including his role in the privatization of Jos Steel Rolling Mill in Plateau State and an alleged shooting incident in Ukraine in 2008.