The Economic and Financial Crimes Commission (EFCC) has arrested Udom Emmanuel, the former governor of Akwa Ibom State, over an alleged N700 billion fraud.
Emmanuel, who served as governor from 2015 to 2023, was taken into custody after honoring an EFCC invitation to answer allegations of money laundering, diversion of funds, and stealing.
A civil society organization, the Network Against Corruption and Trafficking, petitioned the EFCC, prompting the investigation. The petitioner alleged that Emmanuel received N3 trillion from the Federation Account over eight years but left behind a debt profile of N500 billion and unpaid ongoing projects worth N300 billion. He was also alleged to be unable to account for N700 billion.
Investigations uncovered the withdrawal of N31 billion in cash from a single account named “Office of the Governor.” The money was withdrawn progressively between 2019 and 2023. This discovery has raised questions about the transparency and accountability of Emmanuel’s administration.
The EFCC has not issued an official statement regarding the arrest. However, sources confirm that Emmanuel was arrested shortly after arriving at the EFCC’s corporate headquarters in Abuja. The commission’s spokesperson, Dele Oyewale, could not be reached for comment as his phone was switched off.
The arrest of Udom Emmanuel, the former governor of Akwa Ibom State, by the Economic and Financial Crimes Commission (EFCC) over an alleged N700 billion fraud has significant implications for the state, the country, and the fight against corruption.
The arrest could lead to a re-evaluation of the state’s finances and governance structure, potentially leading to reforms and improvements in the way the state is managed.
Also the arrest could lead to a re-evaluation of the state’s finances and governance structure, potentially leading to reforms and improvements in the way the state is managed.