04
Mar
Mar
FORMER AKWA IBOM GOVERNOR UDOM EMMANUEL ARRESTED OVER ALLEGED N700 BILLION FRAUD
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CapitalTimesNews / 3 months
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- 2 min read
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Akwa Ibom State Governor Udom Emmanuel over allegations of a N700 billion fraud. The arrest occurred on Tuesday at the EFCC headquarters in Abuja, following an invitation to the former governor. Emmanuel, who served from 2015 to 2023, faces accusations of money laundering, fund diversion, and financial mismanagement during his tenure. A petition by the civil society organization, Network Against Corruption and Trafficking (NACAT), alleged that Emmanuel received over N3 trillion from the Federation Account but left behind a debt of N500 billion and N300 billion in unpaid ongoing projects. He is also said to be unable to account for N700 billion. Investigations reportedly revealed N31 billion withdrawn in cash from an account titled ‘Office of the Governor’ between 2019 and 2023. A source stated, “We have arrested the former governor of Akwa Ibom over an alleged N700 billion fraud. NACAT’s petition prompted our investigation. The petitioner alleged that Emmanuel received N3 trillion but left behind a debt of N500 billion and unpaid projects worth N300 billion. He is also unable to account for N700 billion.” The EFCC has not yet issued an official statement regarding the arrest, and the agency’s Head of Media and Publicity, Dele Oyewale, did not respond to inquiries by press time. In January 2025, NACAT had called for investigations into Emmanuel’s administration. The former governor’s aides dismissed the allegations as baseless, with his media assistant, Steven Abia, stating that Emmanuel remained unperturbed by the corruption claims.