EFCC Arrests ex-Governor Udom Emmanuel Over Alleged N700 Billion Fraud

By MOHAMMED DANBABA

ABUJA – The Economic and Financial Crimes Commission (EFCC) has arrested former Akwa Ibom State Governor, Udom Emmanuel, over allegations of a N700 billion fraud.

The arrest took place on Tuesday, March 5, 2025, at the EFCC headquarters in Abuja following an official invitation extended to the former governor. Emmanuel, who served as governor from 2015 to 2023, is facing serious allegations of financial mismanagement, money laundering, and fund diversion during his tenure.

EFCC Investigates Udom Emmanuel Over N700 Billion Fraud

According to sources within the anti-graft agency, the investigation into Udom Emmanuel’s financial dealings was triggered by a petition filed by the civil society organisation, Network Against Corruption and Trafficking (NACAT). The petition alleged that Emmanuel received over N3 trillion from the Federation Account during his eight-year tenure but left behind a staggering debt of N500 billion and N300 billion in unpaid projects. The most damning accusation claims that N700 billion remains unaccounted for.

Alleged N31 Billion Withdrawn in Cash from Government Account

Further investigations revealed that between 2019 and 2023, a total of N31 billion was allegedly withdrawn in cash from an account under the title ‘Office of the Governor.’

A source within the EFCC confirmed the arrest, stating:

“We have arrested the former governor of Akwa Ibom over an alleged N700 billion fraud. NACAT’s petition prompted our investigation. The petitioner alleged that Emmanuel received N3 trillion but left behind N500 billion in debt and unpaid projects worth N300 billion. Our findings uncovered that N31 billion was withdrawn in cash from the ‘Office of the Governor’ account.

EFCC Yet to Release Official Statement

Despite the widespread reports of Udom Emmanuel’s arrest, the EFCC has yet to issue an official statement regarding the case. Efforts to reach the agency’s Head of Media and Publicity, Dele Oyewale, for confirmation were unsuccessful as of press time.

NACAT’s Call for Investigation Into Emmanuel’s Administration

The arrest comes just months after NACAT publicly called for an in-depth investigation into Emmanuel’s administration. In January 2025, the organisation raised concerns over alleged misappropriation of funds and irregular financial transactions during his tenure as governor.

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Udom Emmanuel’s Response to Corruption Allegations

Reacting to the allegations, Udom Emmanuel’s aides have dismissed the claims as politically motivated and baseless. His media assistant, Steven Abia, insisted that the former governor is unperturbed by the corruption accusations and remains confident that he will be exonerated.

“These are fabricated allegations aimed at tarnishing the image of a leader who served his state diligently. The EFCC investigation will prove his innocence in due time,” Abia stated.

Public Reactions and Calls for Accountability

The arrest of the former Akwa Ibom governor has sparked widespread reactions among Nigerians. Many have taken to social media to demand transparency and accountability in the handling of state funds.

While some believe the EFCC’s actions signal progress in Nigeria’s fight against corruption, others argue that selective prosecution remains a concern. Political analysts suggest that this case could set a precedent for holding former public officials accountable for financial misconduct.

What’s Next for Udom Emmanuel?

Legal experts predict that Emmanuel may face a lengthy legal battle if the EFCC presses formal charges against him. If found guilty, the former governor could be subjected to severe penalties, including asset forfeiture and imprisonment.

The coming weeks will be crucial in determining the trajectory of the case and whether Emmanuel will be granted bail or remain in EFCC custody pending further investigations.

Conclusion

As the EFCC intensifies its fight against corruption, the arrest of Udom Emmanuel over an alleged N700 billion fraud has once again highlighted the importance of financial accountability in governance. Nigerians will be closely watching as the investigation unfolds, hoping for justice and transparency.

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Dayo Adesulu, online editor, SEO expert.