Arrested for suspected ?3.6 billion loan fraud is the former minister of commerce

According to the EFCC, Ugwuh's arrest followed a plea by a bank.Charles Ugwuh, a former minister of commerce and industry, was detained on suspicion of a ?3.6 billion fraud and conspiracy.The Economic and Financial Crimes Commission (EFCC) announced Ugwuh’s arrest in a statement on Monday, January 15, 2024.By appointment, Ugwuh became a minister under the late President Umaru Yar'Adua. When the late president reorganized his cabinet, he was fired along with nineteen other officials. The former minister and Chief Geoffrey Ekenma were detained on January 11, 2024, at No. 2, Musa Yar Adua Way, New Owerri, Imo State, according to the EFCC.In the statement signed by the Head of Media and Publicity of the commission, Dele Oyewale, the anti-graft agency said Ugwuh’s arrest followed a petition by a new generation bank.