Fred Ajudua: EFCC arrests Lagos socialite over $1.43 million fraud

The Economic and Financial Crimes Commission (EFCC) has arrested Lagos-based socialite and businessman, Fred Ajudua, in connection with an alleged $1.43 million fraud.

Ajudua was apprehended on Tuesday in Abuja, following a Supreme Court order issued on Friday, May 5, 2025, which revoked his bail and directed that he be remanded in a correctional facility.

According to Vanguard, a senior source at the EFCC confirmed the arrest, stating:

“Operatives of the Economic and Financial Crimes Commission (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 arrest marks a significant development in Ajudua’s decades-long legal saga with the anti-graft agency. He has faced numerous allegations of advance-fee fraud dating back to the 1990s.

The Supreme Court’s revocation of his bail came after an earlier ruling by the Court of Appeal in Lagos, which had granted him temporary reprieve. The apex court’s decision is seen as a signal of the judiciary’s growing resolve to ensure accountability in high-profile corruption cases.

There are unconfirmed reports that Ajudua may have absconded prior to his arrest, raising fresh concerns about the enforcement of court orders and the efficacy of monitoring mechanisms for defendants on bail.

Ajudua’s legal troubles began in 1993 when he was accused of defrauding a German businessman of $1.43 million. In 2016, the EFCC filed a 28-count charge against him for conspiracy and obtaining money under false pretences.

His prosecution has been repeatedly stalled by legal delays, health-related bail applications, and even a failed attempt to arrest him in 2007.

The EFCC has yet to release an official statement on the arrest as of the time of filing this report.