The Economic and Financial Crimes Commission (EFCC) has arrested a former Akwa Ibom Governor Udom Emmanuel for alleged N700billion fraud.
Emmanuel was arrested after honouring an invitation of the EFCC on Tuesday to answer charges of money laundering, diversion of funds and stealing preferred against him by Network against Corruption and Trafficking (NCAT).
He arrived the EFCC’s office around 12:30pm.
The commission’s investigations have uncovered the withdrawal of N31billion in cash in one single account.
The petitioner alleged that Emmanuel received N3trillion from the Federation Account in eight years but left a debt profile of of N500billion and unpaid ongoing projects worth N300billion.
He was also alleged to be unable to account for N700billion.
The EFCC’s investigations are ongoing with Emmanuel being grilled by operatives.