By way of Isaac Aregbesola
The Financial and Monetary Crimes Fee (EFCC) has detained an Abuja businessman for allegedly defrauding a Ukrainian investor of greater than 120 million greenbacks in a scheme purportedly spanning just about 20 years.
EFCC Spokesman, Dele Oyewale, who showed the improvement to the Information Company of Nigeria (NAN) Abuja on Tuesday, mentioned the suspect was once arrested in his place of dwelling in Abuja on Monday, and has since been in custody.
He then again declined additional rationalization at the building.
In the meantime a supply on the fee conversant with the improvement, mentioned the suspect was once accused of advance rate fraud, legal breach of consider, legal conversion, acquiring cash beneath false pretence, robbery and cash laundering.
In step with the supply, the main points of the case display that his arrest follows collaboration with world investigators and data equipped by means of whistle-blowers inside his organisation.
“The suspect allegedly got thousands and thousands of greenbacks from the investor between 2007 and 2015 for mineral exploration and tool initiatives that had been by no means delivered, and the finances allegedly diverted for private use.
”The fee additionally exposed alleged transfers of billions of naira to firms and people related to the suspect together with his youngsters.
“His 28-year-old son, controls Battregen Restricted, which investigators described as a conduit for laundering finances.
”Between February and April 2025, Battregen reportedly gained roughly N1.4 billion in purported loans despite recording no earnings.
“In July 2025, an extra N953 million was once allegedly transferred to the son of which best N90 million was once returned.
”Investigators additionally recognized transfers of between N48 million and N50 million to the suspect’s 26-year-old daughter, and a relative and industry affiliate. They reportedly discovered no reliable industry function for the bills.”
The supply additional mentioned that the EFCC was once increasing its investigation and had appealed to contributors of the general public and the businessman’s former friends to supply additional knowledge.
The legitimate defined that the case involved a Ukrainian investor who reportedly misplaced really extensive property following Russia’s invasion of Ukraine in 2022.
”Investigators alleged that the suspect therefore entered into dealings with Inter RAO UES, a Russian state-owned undertaking, for mineral exploitation and effort initiatives.
”The allegations additionally lengthen to his previous industry dealings in Ukraine.
Within the mid-2000s, the suspect allegedly persuaded two Ukrainian businessmen to finance the privatisation of Jos Metal Rolling Mill in Plateau earlier than taking unique keep an eye on of the power, stripping it of property and forsaking loads of employees with out wages.
”He additionally allegedly shot and severely wounded certainly one of his industry companions all through a disagreement in Ukraine on April 28, 2008, earlier than fleeing to Nigeria.
“The report detailing the allegations says says the suspect had remained in Nigeria despite an Interpol pink understand,” the supply additionally advised NAN.(NAN)
Edited by means of Deborah Coker