Alleged ₦700bn Fraud: EFCC arrests ex-Akwa Ibom Gov Emmanuel

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a former governor of Akwa Ibom State, Udom Emmanuel, for alleged N700 billion Fraud.

Emmanuel was arrested after he honoured an invitation of the EFCC on Tuesday to answer allegations of money laundering and diversion of funds preferred against him by the Network against Corruption and Trafficking.

The petitioner alleged that Emmanuel received N3 trillion from the Federation Account in eight years but left a debt profile of N500bn and unpaid ongoing projects worth N300bn. He was also alleged to be unable to account for N700 billion.

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The EFCC’s investigations are ongoing, with Emmanuel being grilled by operatives.

EFCC’s spokesperson, Dele Oyewale, could not be reached when contacted.

Emmanuel served as governor of Akwa Ibom State from 2015 to 2023 under the platform of the People’s Democratic Party (PDP).