EFCC Arrests Fred Ajudua Over $1.43m Fraud

Last updated: May 13, 2025. 8:51 pm

By Praise Ben

4 Min Read

EFCC Arrests Fred Ajudua

EFCC Arrests Fred Ajudua Over $1.43m Fraud.
Ajudua arrested over alleged $1.43m fraud dating to 1993
EFCC accuses him of forging documents to defraud Palestinian

Embattled Nigerian socialite and businessman, Fred Ajudua, has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) in Abuja.

His arrest on Tuesday follows a ruling by the Supreme Court on Friday, May 9, 2025, which revoked the bail earlier granted to him by the Court of Appeal, Lagos Division, and ordered his return to correctional custody in connection with a $1.43 million fraud case.

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EKO HOT BLOG reports that in a unanimous decision, the apex court faulted the Court of Appeal’s judgment that granted Ajudua bail, declaring it an error. The court subsequently ordered his remand and directed Justice Mojisola Dada of the Lagos State High Court to resume hearing on the long-standing criminal case.

Ajudua was initially arraigned before Justice Josephine Oyefeso of the Lagos High Court, but the EFCC later refiled the case and it was reassigned to Justice Dada.

The case dates back to a complaint lodged in a letter dated August 26, 1993, by the Embassy of the State of Palestine to Nigeria’s then Minister of Foreign Affairs, with a copy sent to the Inspector General of Police. The embassy alleged that Ajudua defrauded a Palestinian national, Ziad Abu Zalaf, of $1,043,000 under false pretences while Zalaf was based in Germany.

Following investigations, the EFCC filed a 12-count charge against Ajudua at the High Court of Lagos State in Ikeja. The commission alleged that Ajudua, in conspiracy with one Joseph Ochunor (still at large), obtained several sums of money from Zalaf under the guise of executing a fake business transaction.

According to the EFCC, Ajudua and Ochunor fraudulently collected $268,000 on April 2, 1993, and another $225,000 on May 12, 1993. They were also accused of forging documents from the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC) to convince the foreign victim of the transaction’s authenticity.

Though Ajudua was arraigned, the case faced numerous delays. His lawyer, Olalekan Ojo, SAN, applied for pre-trial bail on health grounds, which Justice Dada denied in July 2018 due to the protracted delays the case had suffered for over 13 years.

However, the Court of Appeal later overturned Justice Dada’s decision and granted bail, with Justice Mohammed Garba ruling that bail was a constitutional right. This allowed Ajudua to remain free under earlier conditions—until the Supreme Court’s recent decision reversed that stance.

Ajudua remains in EFCC custody as further legal proceedings are anticipated.