Economic and Financial Crimes Commission (EFCC) has arrested Lagos-based socialite and businessman, Fred Ajudua, in connection with a $1.43 million fraud case dating back over three decades.
Gatekeepers News reports that Ajudua was taken into custody in Abuja on Tuesday following a Supreme Court ruling that revoked his bail.
The Supreme Court, in a unanimous decision on May 9, 2025, ordered Ajudua’s remand in a correctional facility, stating that the Court of Appeal erred in granting him bail.
The apex court also directed Justice Mojisola Dada of the Lagos State High Court to resume hearing the case.
Ajudua’s trial has been ongoing since 2005, with multiple delays and adjournments. He was initially denied bail by Justice Dada in 2018 due to the protracted nature of the case. However, the Court of Appeal later overturned this decision, granting Ajudua bail.
The EFCC challenged this ruling at the Supreme Court, which ultimately ruled in their favor.
Justice Dada had previously ruled, “This case is one of the oldest in Lagos State. Bail is refused and the defendant is to be remanded in prison custody.”
The Supreme Court’s decision has now paved the way for Ajudua’s re-arraignment and the continuation of the trial.
