The Economic and Financial Crimes Commission (EFCC) has arrested Lagos-based socialite and businessman Fred Ajudua, pending his re-arraignment for an alleged $1.43m fraud.
Ajudua was arrested on Tuesday in Abuja and is currently in EFCC custody.
Ajudua is standing trial for allegedly defrauding a German company over three decades ago.
The Supreme Court recently ordered his remand and revoked a bail granted by the Court of Appeal, Lagos Division.
In a unanimous ruling, the apex court held that the Appeal Court erred in granting bail and ordered Ajudua’s return to correctional custody.
The Supreme Court directed trial judge, Justice Mojisola Dada, of the Lagos State High Court, to resume hearing of the criminal case.
Earlier, Justice Dada had denied Ajudua’s bail application on health grounds, noting that the case had suffered repeated delays for over 13 years.
“This case is one of the oldest in Lagos State. Bail is refused and the defendant is to be remanded in prison custody,” she ruled.
Ajudua’s counsel, Olalekan Ojo, SAN, approached the Court of Appeal in Lagos, where Justice Mohammed Garba overturned Justice Dada’s decision, holding that bail was a constitutional right.
The Supreme Court, however ultimately reversed the Appeal Court’s decision, ordering Ajudua’s remand.
