The Economic and Financial Crimes Commission (EFCC) has arrested Abuja-based businessman Innocent Ezuma, 57, over allegations of defrauding a Ukrainian investor of more than $120 million.
Innocent Ezuma was arrested at his Abuja residence on Monday, October 19, and was still in the commission’s custody as of Tuesday, according to the report.
EFCC spokesperson Dele Oyewale confirmed the arrest but declined to provide further details.
Sources familiar with the investigation alleged that Ezuma received millions of dollars from the investor between 2007 and 2015 to fund mineral exploration and power projects that were never delivered.
The funds were allegedly diverted for personal use, while investigators are examining transfers worth billions of naira to companies and individuals linked to the businessman, including his children.
The investigation reportedly covers allegations of advance fee fraud, criminal breach of trust, obtaining money under false pretences, theft and money laundering.
Innocent Ezuma is also accused of involvement in controversial business dealings in Nigeria and Ukraine, including alleged irregularities surrounding the privatization of Jos Steel Rolling Mill in Plateau State.
A source further alleged that he shot and seriously injured a business partner in Ukraine in April 2008 before fleeing to Nigeria. These allegations have not been independently verified.
The EFCC has not publicly disclosed further details of the case.
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