EFCC Grills Ex-Akwa Ibom Gov Emmanuel for Alleged ₦700bn Fraud

Former Governor of Akwa Ibom State, Udom Emmanuel, has been arrested by the Economic and Financial Crimes Commission (EFCC) over an alleged N700 billion fraud. The arrest was made on Tuesday, after Emmanuel responded to an invitation from the anti-corruption agency.

According to sources, Emmanuel’s arrest is connected to a petition from a civil society organization, the Network Against Corruption and Trafficking. The petition alleged that Emmanuel received N3 trillion from the Federation Account during his tenure but left the state with a debt of N500 billion and uncompleted projects valued at N300 billion.¹

The EFCC’s investigation revealed that Emmanuel is unable to account for N700 billion. He is reportedly being accused of money laundering, fund diversion, and embezzlement. Further investigations uncovered cash withdrawals amounting to N31 billion from a single account named “Office of the Governor” between 2019 and 2023.

Emmanuel’s arrest is the latest development in the EFCC’s efforts to tackle corruption in Nigeria. The agency has been actively investigating and prosecuting cases of corruption, including those involving high-profile individuals.

It’s worth noting that the EFCC has been working to uncover and prosecute corrupt activities in various sectors, including banking. In a separate case, the agency uncovered a criminal syndicate of bankers who specialized in forging signatures of deceased bank customers and stealing from their accounts [2].