Published • loading... • Updated
EFCC Arrests Abuja Businessman Over Alleged $120m Fraud
Investigators say the money was meant for mineral exploration and power projects that were never delivered, and some funds were routed through family-linked companies.
- On Monday, October 19, the Economic and Financial Crimes Commission arrested Abuja-based businessman Innocent Ozoemena Ezuma for allegedly defrauding a Ukrainian investor of more than $120 million between 2007 and 2015.
- Investigators allege Ezuma obtained funds for undelivered mineral exploration and power projects, following earlier alleged misconduct including asset stripping at Jos Steel Rolling Mill in Plateau State and a 2008 shooting in Ukraine.
- Authorities identified Battregen Limited, controlled by Ezuma's 28-year-old son Bogdan Ekene Ezuma, as a conduit for laundering funds, with transfers also traced to his 26-year-old daughter Bozhena Ezuma and associate Victor Ezuma.
- Between February and April 2025, Battregen allegedly received N1.365 billion in purported loans despite recording no revenue; an additional N953 million was transferred to the younger Ezuma in July 2025.
- Despite an Interpol red notice, Ezuma remained in Nigeria until his arrest; the EFCC is now expanding its investigation and appealing to the public and former associates for additional information.
Insights by Ground AI
14 Articles
14 Articles
EFCC arrests businessman over alleged $120m fraud
The Economic and Financial Crimes Commission, EFCC, has arrested Innocent Ozoemena Ezuma, an Abuja-based businessman accused of defrauding a Ukrainian investor of more than $120 million in a scheme allegedly spanning nearly two decades. Ezuma, 57, was arrested in Abuja on Monday, October 19. An official of the anti-graft agency who did not want to […] EFCC arrests businessman over alleged $120m fraud
·Nigeria
Read Full Article
Coverage Details
Total News Sources14
Leaning Left1Leaning Right0Center3Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 25%
C 75%
Factuality
To view factuality data please Upgrade to Premium
