Abuja bizman arrested over alleged $120m fraud

Abuja-based businessman Innocent Ezuma, 57, has been arrested by the Economic and Financial Crimes Commission (EFCC) over allegations of defrauding a Ukrainian investor of more than $120 million. Ezuma was taken into custody at his residence in Abuja on Monday, October 19, and remained in the commission's custody as of Tuesday. The EFCC spokesperson, Dele Oyewale, confirmed the arrest to reporters on Tuesday but did not provide additional details about the investigation. According to sources, Ezuma is being probed for multiple offenses, including advance fee fraud, criminal breach of trust, criminal conversion, obtaining money under false pretences, theft, and money laundering. Sources indicated that Ezuma allegedly obtained millions of dollars from the Ukrainian investor between 2007 and 2015 for mineral exploration and power projects that were never completed. These funds, according to the sources, were reportedly diverted for personal use. Investigators are looking into transfers worth billions of naira to entities and individuals connected to Ezuma, including his children. The investigation is reportedly expanding, with the EFCC seeking information from the public and Ezuma’s former associates. The allegations also involve Ezuma’s past business activities in both Ukraine and Nigeria. One source claimed that in the mid-2000s, Ezuma convinced two Ukrainian businessmen to fund the privatization of Jos Steel Rolling Mill in Plateau State before assuming sole control of the facility. This move allegedly resulted in the removal of assets and the abandonment of hundreds of workers without pay. Additionally, Ezuma is accused of shooting and seriously injuring one of his business partners during a confrontation in Ukraine on April 28, 2008, before fleeing to Nigeria. Oyewale reiterated that Ezuma was arrested at his Abuja residence on Monday but declined to offer further specifics about the ongoing probe. Separately, Mustapha Lamido, son of former Jigawa Governor Sule Lamido, denied charges of bribery and gratification brought against him, his father, and others by the EFCC. Mustapha appeared as the fifth defense witness before trial judge Ijeoma Ojukwu of the Federal High Court in Abuja. The EFCC is prosecuting Sule Lamido along with his two sons, Aminu and Mustapha, on N1.35 billion money laundering charges. The other defendants include Aminu Abubakar, Bamaina Company Nigeria Ltd, Bamaina Aluminium Ltd, Speeds International Ltd, and Batholomew Darlington Agoha. The EFCC alleges that Sule Lamido misused his position while governing Jigawa State from 2007 to 2015, receiving kickbacks from firms awarded government contracts. However, the defendants have pleaded not guilty to all the charges. Mustapha, testifying through defense lawyer Joe Agi, a Senior Advocate of Nigeria (SAN), stated that the allegations in the 37-count indictment were false. He maintained that all sub-contracts awarded by Dantata and Sawoe Construction Company to his companies were properly executed and paid for. He also denied that any bribes or gratifications were indirectly given to his father, who was governor at the time. Mustapha explained that he began his business career in 2002 with a car dealership, borrowing N1 million from his father to start the venture. He described how he operated independently, managing Speeds International Ltd without his father’s involvement. He also detailed the history of Bamaina Company Nigeria Ltd, which he said was established in 1984 and engaged in petroleum product distribution until an attack during the 2011 post-election violence in Kano destroyed much of their documentation.