Abuja Businessman Rearrested by EFCC for Alleged N500m Fraud After Months on the Run

The Economic and Financial Crimes Commission (EFCC) announced on Monday that it had successfully re-arrested Stephen Akpa, a prominent businessman based in Abuja, in connection with an alleged N500 million fraud. The commission revealed this development through an official statement published on its website.

Originally taken into custody on December 2, 2022, at his office situated in Abuja’s Idu region, Akpa faced accusations of deceivingly obtaining N500 million. The arrest came following a petition filed against him, detailing the purported false pretenses. However, prior to his planned arraignment on five charges, the suspect managed to elude the administrative bail granted to him.

Despite concerted efforts to locate and apprehend Akpa, he had successfully evaded capture since then. The statement indicated, “Akpa was first arrested by the commission on December 2, 2022, at his office in the Idu axis of Abuja, following a petition alleging that he obtained the sum of N500,000,000 under false pretense. He was to be arraigned on a five-count charge when he jumped the administrative bail offered by the commission. All efforts to apprehend proved futile until August 9, 2023, when he was re-arrested. He will soon be arraigned in court.”

The EFCC expressed its resolve to bring Akpa to justice as he prepares to face the legal consequences of his alleged fraudulent activities.