ABUJA: The Economic and Financial Crimes Commission (EFCC) has reportedly arrested Abuja-based businessman Innocent Ozoemena Ezuma, 57, over allegations that he defrauded a Ukrainian investor of more than $120 million in a scheme said to have spanned nearly two decades.
An EFCC official reportedly confirmed the arrest in Abuja on Monday, according to SaharaReporters, disclosing that Ezuma was being investigated for alleged advance-fee fraud, criminal breach of trust, money laundering and other financial offences.
Investigators allege that the businessman collected millions of dollars between 2007 and 2015 under the pretext of financing mineral exploration and power projects that were allegedly never delivered.
The investigation has reportedly expanded to include financial transactions involving companies, family members and associates linked to the businessman, with authorities examining transfers running into billions of naira.
One of the transactions under investigation reportedly involves Battregen Limited, a company allegedly controlled by Ezuma’s 28-year-old son, Bogdan Ekene Ezuma.
According to the report, the company received approximately ₦1.365 billion in purported loans between February and April 2025, despite recording no revenue during the period.
Investigators are also examining an alleged transfer of ₦953 million to Ezuma’s son in July 2025, of which only ₦90 million was reportedly returned.
The probe has further identified transfers ranging from ₦48 million to ₦50 million involving his 26-year-old daughter, Bozhena Ezuma, and other associates.
The EFCC reportedly suspects that some of the transactions may have been used to move proceeds of the alleged fraud. However, the legitimate business purposes of some transfers have yet to be established.
The transactions form part of a broader investigation into the movement of funds through companies and individuals allegedly connected to the businessman.
The reported transfers do not, on their own, establish criminal wrongdoing by the recipients.
The investigation reportedly extends beyond the alleged dealings with the Ukrainian investor to include transactions involving Russian state-owned energy company Inter RAO UES and the privatisation of the Jos Steel Rolling Mill in Plateau State.
Ezuma allegedly took control of the steel facility, stripped it of assets and left hundreds of workers without their wages.
The allegations raise questions about the management of the facility, the circumstances surrounding its privatisation and the financial dealings associated with its operations.
Further details about the transactions and the specific role allegedly played by Ezuma remain subject to investigation.
Investigators also reportedly allege that Ezuma shot and seriously wounded a business partner in Ukraine in 2008 before fleeing to Nigeria.
According to the report, he remains in Nigeria despite an Interpol Red Notice reportedly issued in connection with the matter.
The circumstances surrounding the alleged shooting, the status of any related proceedings in Ukraine and the precise nature of the international alert were not independently established in the information available for this report.
The anti-graft agency is reportedly broadening its investigation into the alleged fraud, the movement of funds and the businessman’s financial dealings.
The commission has also appealed to members of the public and the businessman’s former associates to provide relevant information that could assist investigators.
The allegations remain under investigation, and an arrest does not amount to a conviction. Any criminal liability must be established through the appropriate legal process.
By RapidoSpace News
