Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Akwa Ibom State Governor, Udom Emmanuel, over allegations of a ₦700 billion fraud.

Emmanuel was taken into custody on Tuesday after voluntarily honouring an invitation from the EFCC to respond to allegations of money laundering and fund misappropriation levelled against him by the Network Against Corruption and Trafficking.

According to the petition, Emmanuel received ₦3 trillion from the Federation Account over an eight-year period but left behind a debt profile of ₦500 billion, along with unfinished projects valued at ₦300 billion. He is also accused of being unable to account for ₦700 billion in state funds.

EFCC officials have commenced investigations, questioning Emmanuel about the alleged financial irregularities.

When contacted, EFCC spokesperson Dele Oyewale was unavailable for comment.

Emmanuel served as Governor of Akwa Ibom State from 2015 to 2023 under the Peoples Democratic Party (PDP).

Meanwhile, last Friday, the EFCC arraigned former Abia State Governor, Theodore Orji, alongside four others before the Abia State High Court over allegations of misappropriating approximately ₦47 billion.

The other defendants in the case include Orji’s son, Engineer Chinedum Orji; former Abia State Commissioner of Finance, Dr Philip Nto; government contractor, Obioma King; and former Abia State Director of Finance, Romas Madu.

They were charged before the Chief Judge, Justice Lilian Abai, on a 16-count indictment relating to conspiracy, theft, and the illegal conversion of billions of naira intended for various government programmes.

The allegations include the misappropriation of ₦22.5 billion allocated as security votes between 2011 and 2015, the theft of ₦13 billion from a loan facility granted by Diamond Bank, and the unlawful diversion of ₦12 billion from the Paris Club refund.

Additionally, the defendants are accused of converting ₦10.5 billion from a First Bank loan meant for the Abia State government and its local councils, along with ₦2 billion from Central Bank of Nigeria (CBN) funds designated for small and medium enterprises.

All five defendants pleaded not guilty and were granted bail. The trial is scheduled for 18 and 19 June 2025.