Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Lagos-based socialite and businessman, Fred Ajudua, in connection with an alleged $1.43 million fraud case. His arrest comes ahead of his re-arraignment and follows a recent Supreme Court ruling revoking his bail.
Ajudua was taken into custody in Abuja on Tuesday and is currently being held by the anti-graft agency. EFCC spokesperson Dele Oyewale declined to comment on the development.
The case, which dates back over three decades, involves allegations that Ajudua defrauded a German firm. He is standing trial at the Lagos State High Court.
On May 9, 2025, the Supreme Court ordered Ajudua’s remand, stating that the Court of Appeal erred in previously granting him bail. The apex court also directed Justice Mojisola Dada of the Lagos State High Court to resume proceedings in the long-delayed trial.
Ajudua was initially arraigned before Justice Josephine Oyefeso, but the EFCC later refiled the case and it was reassigned to Justice Dada. At his re-arraignment in July 2018, his bail application was denied due to the case’s prolonged delays—spanning more than 13 years.
Justice Dada ruled, “This case is one of the oldest in Lagos State. Bail is refused and the defendant is to be remanded in prison custody.”
However, Ajudua’s legal team, led by Olalekan Ojo (SAN), secured bail through the Court of Appeal, where Justice Mohammed Garba held that bail was a constitutional right and allowed him to remain under existing bail terms.
