LAGOS: The Economic and Financial Crimes Commission (EFCC) has re-arrested Lagos socialite Fred Ajudua in connection with a long-running $1.43 million fraud case dating back over two decades.
Sources familiar with the matter confirmed that EFCC operatives apprehended Mr Ajudua in Abuja on Tuesday, just days after the Supreme Court overturned a controversial 2018 bail earlier granted to him by the Lagos Division of the Court of Appeal.
The apex court’s ruling on Friday upheld the EFCC’s appeal, nullified the bail, and ordered Mr Ajudua’s remand in a correctional facility, paving the way for the resumption of trial proceedings.
The EFCC has been prosecuting Mr Ajudua since 2005 over allegations that he fraudulently obtained $1.043 million from a Palestinian businessman, Zad Abu Zalaf, in 1993 under false pretences.
The trial, described as one of the longest-running fraud cases in Nigeria, has been plagued by delays, adjournments, and multiple judge transfers.
Mr Ajudua faces 12 amended charges before Justice Mojisola Dada of the Lagos State High Court, Ikeja, including conspiracy, forgery, and using forged documents.
Justice Dada had initially denied Mr Ajudua bail, citing his repeated attempts to frustrate the judicial process. However, the Court of Appeal later granted him bail and ordered the case to be reassigned.
The EFCC challenged the decision, and the Supreme Court has now reversed both rulings, directing that the case continue before Justice Dada.
The case was first assigned to Justice M.O. Obadina in 2005 but was stalled when Mr Ajudua failed to appear in court on at least 24 occasions between 2005 and 2009.
The court struck out the case in 2009, only for it to be reinstated in 2017 following an EFCC application.
In June 2018, the matter was reassigned to Justice Dada, who finally arraigned Mr Ajudua. His subsequent bail and the order for a new trial judge sparked the EFCC’s appeal that has now culminated in the Supreme Court’s latest verdict.
Central to the prosecution’s case is the testimony of German luxury car dealer Michael Kreamer, who claimed he was introduced to Mr Ajudua through Mr Zalaf.
Kreamer told the court that in 1993, he handed over $550,000 in cash to Mr Zalaf as part of what he believed was a legitimate business arrangement with Mr Ajudua in Nigeria.
The transaction was allegedly backed by forged documents from the Central Bank of Nigeria and the Nigerian National Petroleum Corporation, purportedly provided by Ajudua and an accomplice, Joseph Ochunor (who remains at large).
The EFCC said Mr Ajudua received $268,000 on April 2, 1993, and another $225,000 on May 12, 1993, under the guise of business facilitation fees.
Mr Ajudua previously secured bail in a different case on medical grounds, citing a kidney condition and other health complications.
His lawyer, Norrison Quakers (SAN), attempted a similar argument in the current matter. But the EFCC objected, pointing to his history of absconding and delaying proceedings.
Justice Dada rejected the application, ruling that the trial had already suffered over 13 years of health-related delays, which she deemed unacceptable.
The Supreme Court, in its Friday ruling, also held that Mr Ajudua’s appeal challenging the reassignment of the case had become academic following the revocation of his bail.
The court directed the Lagos State Chief Judge to ensure that the trial resumes promptly before Justice Dada.
