By Joshua Tosin Ogunsakin 
The Economic and Financial Crimes Commission, EFCC, has arrested Fred Ajudua, a Lagos-based socialite and businessman.
Ajudua was arrested on Tuesday in Abuja in connection with an alleged $1.43 million fraud.
The arrest followed a Supreme Court order issued on Friday, 5th May 2025, which revoked his bail and directed that he be remanded in the Correctional Service.
Vanguard reports that a highly placed source at the EFCC headquarters in Abuja informed it of the development on Tuesday.
“Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Lagos-based socialite and businessman Fred Ajudua, pending his re-arraignment for an alleged $1.43 million fraud. He was arrested in Abuja on Tuesday and is currently in EFCC custody,” the source said.
The arrest marks the latest chapter in a legal battle spanning decades between Ajudua and the anti-corruption agency.
Ajudua had faced numerous allegations of advance-fee fraud since the 1990s.
The Supreme Court’s decision to revoke his bail followed an earlier ruling by the Court of Appeal, Lagos Division, which had granted him bail.
The apex court’s ruling reflects the judiciary’s resolve to uphold accountability in high-profile fraud cases.
However, there are indications that Ajudua may have absconded prior to his arrest, raising concerns about the enforcement of judicial orders and the effectiveness of compliance mechanisms.
Ajudua’s legal troubles date back to 1993, when he was accused of defrauding a German businessman of $1.43 million.
The EFCC in 2016 filed a 28-count charge against him for conspiracy and obtaining money by false pretences.
The case has been bedeviled by repeated delays, health-related bail applications, and a failed arrest attempt in 2007.
EFCC is yet to comment on the development at the time of filing this report.