EFCC Arrests Ex-Akwa Ibom Gov Over Alleged N700bn Fraud

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Akwa Ibom State Governor Udom Emmanuel over allegations of an N700 billion fraud.

The arrest occurred Tuesday at the EFCC headquarters in Abuja following an invitation to the former governor.

Emmanuel, who served from 2015 to 2023, faces accusations of money laundering, fund diversion, and financial mismanagement during his tenure.

Impeccable sources informed Vanguard that the arrest stemmed from a petition by the civil society organisation Network Against Corruption and Trafficking (NACAT). The petition alleged that Emmanuel received over N3 trillion from the Federation Account but left behind a debt of N500 billion and N300 billion in unpaid ongoing projects. He is also said to be unable to account for N700 billion.

Investigations reportedly revealed N31 billion withdrawn in cash from an account titled ‘Office of the Governor’ between 2019 and 2023.

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A source stated, “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 a debt of N500 billion and unpaid projects worth N300 billion. He is also unable to account for N700 billion. Emmanuel arrived at our office around 12:30 p.m. and was arrested shortly after.

Our investigations uncovered N31 billion withdrawn in cash from the ‘Office of the Governor’ account.”

Meanwhile, the EFCC has not yet issued an official statement regarding the arrest, and the agency’s Head of Media and Publicity, Dele Oyewale, did not respond to inquiries by press time.

In January 2025, NACAT had called for investigations into Emmanuel’s administration. The former governor’s aides dismissed the allegations as baseless, with his media assistant, Steven Abia, stating that Emmanuel remained unperturbed by the corruption claims.