In a renewed clampdown on high-profile financial crimes, operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Fred Chijindu Ajudua, a controversial Lagos-based businessman and former lawyer, over his alleged involvement in a $1.43 million fraud case.
The arrest, confirmed by sources within the EFCC, stems from longstanding accusations that Ajudua defrauded a former Chief of Army Staff, Lt. Gen. Ishaya Bamaiyi (retd.), of $1.43 million while they were both in custody at the Kirikiri Maximum Correctional Centre in Lagos between 2004 and 2005.
According to investigations, Ajudua allegedly obtained the money under false pretences, claiming it was meant to facilitate legal services, secure bail, and bribe judges and court officials to ensure Bamaiyi’s release from custody. The funds were reportedly delivered in instalments by Bamaiyi’s family members and associates, believing the claims to be legitimate.
The case, which has dragged on for years in the Lagos State High Court, resurfaced this week with the EFCC taking the bold step of arresting Ajudua for further questioning as part of efforts to revive prosecution and ensure accountability.
Fred Ajudua, a name long associated with elaborate advance-fee fraud schemes—popularly known in Nigeria as “419”—has faced multiple fraud allegations spanning decades. Though he once practised law, he has spent several years battling charges related to defrauding foreign businessmen, politicians, and associates under the guise of legal and diplomatic connections.
In this latest development, EFCC officials are reportedly building a fresh case file that includes new statements, bank records, and forensic evidence to strengthen prosecution. The commission maintains that Ajudua’s arrest is part of a broader commitment to securing convictions in high-profile economic crime cases that have stalled due to legal technicalities and delays.
Legal observers note that while Ajudua has been granted bail in past proceedings, his re-arrest could signal a shift in strategy by the anti-graft agency, which has been under pressure to secure more convictions, especially in cases involving elite suspects.
Meanwhile, the EFCC has assured the public that justice will not be compromised, stressing that financial crimes—regardless of how long they take—will be pursued to their logical conclusion.
Fred Ajudua is expected to face further court appearances in the coming days, as the agency prepares to present its renewed case before the Lagos State High Court.
