The Economic and Financial Crimes Commission (EFCC) has arrested Abuja-based businessman Innocent Ezuma over allegations that he defrauded a Ukrainian investor of more than $120 million.
The EFCC spokesperson, Dele Oyewale, confirmed on Tuesday that the 57-year-old businessman was arrested at his residence in Abuja on Monday and remained in the agency’s custody as investigations continued.
“He was arrested. He is in our custody and investigations are ongoing,” Oyewale said.
Ezuma is being investigated over allegations of advance fee fraud, criminal breach of trust, criminal conversion, obtaining money under false pretences, theft and money laundering.
Sources familiar with the investigation alleged that he received funds from the Ukrainian investor between 2007 and 2015 for mineral exploration and power projects that were never executed. The money was allegedly diverted for personal use, while investigators are examining billions of naira reportedly transferred to companies and individuals linked to the businessman, including his children.
The EFCC is also said to be seeking information from members of the public and Ezuma’s former associates as the investigation expands.
The allegations extend to the businessman’s dealings in Nigeria and Ukraine, including a transaction involving the Jos Steel Rolling Mill in Plateau State. In the mid-2000s, Ezuma allegedly persuaded two Ukrainian businessmen to finance the privatisation of the steel plant before taking exclusive control of the facility.
He was further accused of stripping the mill of its assets and leaving hundreds of workers without their wages.
Another allegation concerns an incident in Ukraine on April 28, 2008, when Ezuma was accused of shooting and seriously injuring one of his business partners during a confrontation before fleeing to Nigeria.
Although the EFCC confirmed Ezuma’s arrest, its spokesperson did not comment on the specific allegations against him.
