By Springs News NG Media Limited Reporter, Joseph Okafor

Former Akwa Ibom State Governor, Udom Emmanuel, has been arrested by the Economic and Financial Crimes Commission (EFCC) over allegations of misappropriating N700 billion in state funds.

Udom Emmanuel Arrested Over Multi-Billion Naira Fraud Investigation

Emmanuel, who served as governor from 2015 to 2023, was taken into custody on Tuesday after honoring an invitation from the anti-graft agency at its Abuja headquarters around 12:30 p.m.

Why EFCC Arrested Udom Emmanuel?

According to sources, the EFCC launched an investigation following a petition by the Network Against Corruption and Trafficking (NACAT). The petition accused Emmanuel of financial misconduct, including money laundering, diversion of funds, and misappropriation of public resources.

A top EFCC official revealed:
“We have arrested the former governor of Akwa Ibom over an alleged N700 billion fraud. A civil society organization, NACAT, petitioned the EFCC, leading to our investigation.”

Key Allegations Against Emmanuel

• Received N3 trillion from the Federation Account during his tenure but left the state with a debt profile of N500 billion.
• Unaccounted N700 billion despite numerous abandoned projects worth N300 billion.
• Withdrawal of N31 billion in cash from a single account named “Office of the Governor” between 2019 and 2023.

Ongoing EFCC Investigation

As of the time of this report, EFCC spokesman Dele Oyewale had not responded to media inquiries regarding Emmanuel’s arrest and ongoing investigations.

Stay updated with Springs News NG for further developments on this high-profile corruption case.