The Economic and Financial Crimes Commission (EFCC) have re-arrested Lagos socialite and businessman, Fred Ajudua.
He was picked up in Abuja on Tuesday, May 13, 2025, and is now in EFCC custody.
Ajudua’s arrest follows a Supreme Court order directing his remand over an alleged $1.43 million fraud case.
The fraud allegation dates back over 30 years and involves a German firm reportedly swindled by Ajudua in a shady business deal.
The EFCC has been prosecuting Ajudua for allegedly defrauding the company during a bogus contract arrangement.
The case had stalled several times due to legal delays and multiple bail applications.
EFCC spokesperson Dele Oyewale refused to comment when asked about the arrest.
A source familiar with the case said, “The arrest became necessary after the Supreme Court revoked the bail granted by the Appeal Court.”
Supreme Court Overturns Bail, Orders Fresh Trial
On May 9, 2025, Nigeria’s Supreme Court ruled unanimously that the Lagos Division of the Appeal Court erred by granting Ajudua bail.
The apex court also directed Justice Mojisola Dada of the Lagos High Court to resume hearing the matter without further delay.
Justice Dada was reassigned the case after it was initially handled by Justice Josephine Oyefeso.
In July 2018, Ajudua was re-arraigned before Justice Dada. His request for bail on health grounds was refused.
Justice Dada ruled, “This is one of the oldest cases in Lagos State. Bail is refused. The defendant is to be remanded in prison custody.”
However, Ajudua’s lawyer, Olalekan Ojo, SAN, appealed that decision. Justice Mohammed Garba of the Appeal Court overturned it, arguing that “bail is a constitutional right.”
Ajudua was granted bail and remained free under the previous terms, until the Supreme Court’s recent reversal.
EFCC Also Pursuing Others in Billion-Dollar Forex Fraud
The EFCC has recently intensified its fight against financial crimes. Last month, it declared eight suspects wanted over a ₦1 trillion ($1 billion) Central Bank of Nigeria exchange (CBEX) fraud.
The anti-graft agency believes that billions of naira were fraudulently moved through forex allocations and fake business deals.
The agency continues to pursue high-profile corruption cases across Nigeria.
Fred Ajudua has long been linked to advance-fee fraud cases. His name often surfaces in public corruption and fraud discussions dating back to the early 2000s.
Ajudua’s re-arraignment is expected soon before Justice Dada in Lagos.
“He will face the full weight of the law,” a senior EFCC official said under anonymity.
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