Former Minister In Custody Over Unpaid Loan
OpenLife Nigeria has reliably gathered that operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, for an alleged conspiracy and fraud to the tune of N3.6bn.
Ugwuh was arrested alongside Chief Geoffrey Ekenma on January 11, 2024, at No.2, Musa Yar Adua Way, New Owerri, Imo State, following a petition to the Commission from a new generation bank on the alleged fraud perpetrated through a company, Ebony Agro Industries Ltd., linked to the ex-Minister.
Investigations revealed that Ugwuh and Ekenma, Managing Director, Ebony Agro Industries Ltd., allegedly obtained a loan facility from the bank for the purchase and production of polished rice.
However, the suspect, according to the petitioner, failed to meet up his obligations to the bank and all efforts to get him to repay the loan facility proved abortive.
The suspects would be charged to court as soon as investigations are concluded
Born on 3 December 1942 in Obowo Local Government Area of the Okigwe zone of Imo State, Charles Ugwuh holds an MSc in Mechanical Engineering from the University of Birmingham, England.
In late 2006, while still president on MAN, Ugwuh competed in the PDP primaries to select their candidate for Imo State governor in the April 2007 elections but was defeated by Senator Ifeanyi Godwin Araraume.
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