The Economic and Financial Crimes Commission (EFCC) has arrested a former Governor of Akwa Ibom State, Mr. Udom Emmanuel, over alleged fraud to the tune of N700 billion.

Investigation by New Telegraph revealed that Emmanuel was taken into custody shortly after appearing at the corporate headquarters of the anti-graft agency in Abuja, based on an earlier invitation.

Highly-placed establishment sources, who spoke in confidence with this newspaper, said the former governor will answer questions bordering on alleged money laundering, diversion of funds and stealing preferred against him by Network Against Corruption and Trafficking (NCAT).

He was said to have arrived at the Commission’s head office at about 12:30pm. One of the informed sources said:

“The Commission’s investigations have uncovered the (alleged) withdrawal of N31 billion in cash in one single account. The name of the account is ‘Office of the Governor’. The money was withdrawn in cash progressively between 2019 and 2023.

“The petitioner alleged that Emmanuel received N3 trillion from the Federation Account in eight years but left a debt profile of N500 billion and unpaid ongoing projects worth N300 billion. He was also alleged to be unable to account for N700 billion.

“The EFCC’s investigations are ongoing with Emmanuel being grilled by operatives.” EFCC’s Spokesperson, Dele Oyewale, could not be reached when contacted.