EFCC arrests businessman for the second time over N500m fraud

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Esther A

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Jul 28, 2022
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Nigeria
EFCC arrests businessman for the second time over N500m fraud

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The Economic and Financial Crimes Commission (EFCC) have arrested a businessman for the second time over N500m fraud. This businessman is based in Abuja and has been identified as Stephen Akpa.

The EFCC revealed this on Monday via a statement from their Media and Publicity amr. They shared that they had re-arrested this businessman over an alleged N500m fraud.

They initially arrested him on the 2nd of December 2022, at his office which is located in the Idu area in Abuja. The first arrest had come after a petition which was accusing him of obtaining N500m under false pretences had come.

He then jumped the administrative bail which had been granted to him ahead of his planned arraignment on five counts. Ever since then, he fled and has been on the run. They have been unable to arrest him till now.

They said “He was to be arraigned on a five-count charge when he jumped the administrative bail offered by the commission. All efforts to apprehend proved futile until August 9, 2023, when he was re-arrested"
The commission then revealed that this man will soon be arraigned in court.