The Economic and Financial Crimes Commission (EFCC) has arrested Udom Emmanuel, the former governor of Akwa Ibom State, over an alleged fraud case involving N700 billion.

Emmanuel, who was in office from 2015 to 2023, arrived at the EFCC’s headquarters in Abuja around 12:30 p.m. on Tuesday, March 4. He was invited by the agency to answer questions about allegations of money laundering, fund diversion, and theft.

According to reports, he was taken into custody after honoring the invitation. The EFCC has not yet released an official statement on the case, but sources suggest that the investigation is ongoing.

“We have arrested the former governor of Akwa Ibom over an alleged N700 billion fraud. A civil society organisation called the Network Against Corruption and Trafficking petitioned the EFCC, prompting our investigation. The petitioner alleged that Emmanuel received N3 trillion from the Federation Account over eight years but left behind a debt profile of N500 billion and unpaid ongoing projects worth N300 billion. He was also alleged to be unable to account for N700 billion. Emmanuel arrived at our office around 12:30 p.m. and was arrested shortly after.”

The source also revealed that investigations found N31 billion was withdrawn in cash from a single account called the “Office of the Governor.”

“Over investigations have uncovered the withdrawal of N31bn in cash in one single account. The name of the account is Office of the Governor. The money was withdrawn in cash progressively between 2019 and 2023,” the source said.

More details are expected as the case unfolds.