- Safiu Kehinde
The Economic and Financial Crimes Commission (EFCC) has arrested Lagos-based businessman and socialite, Fred Ajudua, over alleged $1.3 million fraud.
In what has been described as one of the oldest case in Lagos, Ajudua, had been in and out of court for allegedly defrauding a German company over three decades.
He was reportedly arrested by the EFCC on Tuesday and held in custody in compliance with the Supreme Court ruling on Friday, May 9, 2025.
The apex court had ordered his remand and revoked a bail granted him by the Court of Appeal, Lagos Division.
According to report, the Supreme Court faulted the Appeal Court’s ruling which granted Ajudua bail.
The apex court ordered the socialite’s return to correctional custody while also directing the trial judge, Justice Mojisola Dada, of the Lagos State High Court, to resume hearing of the criminal case.