The Economic and Financial Crimes Commission (EFCC) has arrested an Abuja businessman, Mr. Sunday Adebayo, over allegations of defrauding a Ukrainian investor of $120 million. According to multiple reports, Adebayo, who owns several businesses in the Nigerian capital, is said to have duped the investor in a real estate deal. The EFCC is yet to disclose when the facility began operating or provide further details about the case. The news of Adebayo’s arrest has sparked concerns among investors and business owners in Abuja, with many expressing worries about the increasing cases of fraud and cybercrime in the city. This development comes barely a month after the EFCC arrested another Abuja businessman, Mr. Emmanuel Iwu, over alleged $50 million fraud. Nigerians are advised to be vigilant when conducting business transactions to avoid falling victim to fraudsters. The EFCC’s spokesperson, Wilson Uwujaren, confirmed the arrest but did not provide further details, citing ongoing investigations. In a similar case last year, the commission arrested and charged a former Minister of Petroleum Resources, Diezani Alison-Madueke, with multiple counts of fraud and money laundering.
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