Economic and Financial Crimes Commission (EFCC) has arrested Innocent Ezuma, an Abuja-based businessman, over allegations that he defrauded a Ukrainian investor of more than $120 million.
Dele Oyewale, EFCC spokesperson, confirmed on Tuesday that Ezuma, 57, was arrested at his residence in Abuja on Monday and remained in the agency’s custody.
“He was arrested. He is in our custody and investigations are ongoing,” Oyewale said.
The businessman is being investigated over allegations of advance fee fraud, criminal breach of trust, criminal conversion, obtaining money under false pretences, theft and money laundering.
According to sources familiar with the investigation, Ezuma allegedly obtained funds from the Ukrainian investor between 2007 and 2015 for mineral exploration and power projects that were not executed.
The funds were allegedly diverted for personal use, while investigators are examining the movement of billions of naira to companies and individuals linked to the businessman, including his children.
The EFCC is said to be seeking information from members of the public and the businessman’s former associates as the investigation widens.
The allegations also extend to Ezuma’s business 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 provide 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.
The businessman was also accused of shooting and seriously injuring one of his business partners during a confrontation in Ukraine on April 28, 2008, before fleeing to Nigeria.
Although the EFCC confirmed the arrest, Oyewale did not address the allegations against Ezuma.
