EFCC Arrests Abuja Businessman Innocent Ezuma Over Alleged $120 Million Ukrainian Investor Fraud

• The EFCC arrested Abuja-based businessman Innocent Ozoemena Ezuma, 57, on Monday, October 20, 2026, over an alleged $120 million fraud
• Investigators allege Ezuma collected millions from a Ukrainian investor between 2007 and 2015 under the guise of financing mineral and power projects
• The probe into the businessman uncovered suspicious transfers worth billions of naira linked to Ezuma's son, daughter, and other associates

An Abuja-based businessman, Innocent Ozoemena Ezuma, 57, has been arrested by the Economic and Financial Crimes Commission (EFCC) over allegations that he defrauded a Ukrainian investor of more than $120 million across a scheme that reportedly lasted nearly two decades.

An EFCC official confirmed the arrest in Abuja on Monday, telling reporters that Ezuma faces investigation on charges including advance fee fraud, criminal breach of trust, and money laundering.

How Innocent Ezuma's alleged fraud unfolded

Investigators say Ezuma allegedly received millions of dollars from the Ukrainian investor between 2007 and 2015, purportedly to finance mineral exploration and power generation projects that were never delivered.

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The probe into the Nigerian businessman subsequently uncovered a trail of alleged suspicious financial transfers connected to companies and family members allegedly linked to him.

A company called Battregen Limited, reportedly controlled by his 28-year-old son, Bogdan Ekene Ezuma, allegedly received N1.365 billion ($1,025,213.49) in what were described as loans between February and April 2025, despite generating no revenue during that period.

A further N953 million ($715,948.87) was allegedly transferred to his son in July 2025, with only N90 million (approximately $67,596.49) returned.

The Guardian Nigeria reported that investigators also identified payments ranging from N48 million (about $36,060) to N50 million (approximately $37,553) made to his 26-year-old daughter, Bozhena Ezuma, and other associates.

The EFCC also flagged alleged dealings involving Russian state-owned energy firm Inter RAO UES and the privatisation of the Jos Steel Rolling Mill in Plateau State.

Ezuma allegedly took control of that facility, stripped it of assets, and left hundreds of workers without pay.

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Interpol Red Notice and shooting allegation

Investigators further allege that Ezuma shot and seriously wounded a business partner in Ukraine in 2008 before fleeing to Nigeria, where he has reportedly remained despite an active Interpol red notice against him.

The EFCC said it is expanding the scope of its investigation and has appealed to the public and the businessman's former associates to come forward with any relevant information.

The Instagram post detailing the arrest of Abuja businessman Innocent Ezuma over the alleged $120 million fraud is below:

Nigerians react to Innocent Ezuma's arrest

YEN.com.gh compiled a selection of comments from social media users below:

chief_daddy_g_ commented:

"I live in the same estate with this man… CEO Etazuma Mining Company."

vic.vibes said:

"Omo, that's a crazy amount, man."

stechyn__wears wrote:

"Our own Zumex? Chief Omego of Arondizuogu, haaa. Well, I am not surprised. If you visit his villa, you will marvel."

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dayotutu1:

"Businessman Innocent who is not innocent 😂."

el_asani:

"The only thriving economy in Nigeria is crime. The sad part is it robs us of global opportunities."

Nigerian fraudster Chukwuemeka Amachukwu jailed in US

Earlier, YEN.com.gh reported on Nigerian national Chukwuemeka Amachukwu, who was sentenced to eight years in US federal prison over fraud schemes that caused more than $15 million in losses.

The schemes involved hacking tax preparation businesses, stealing customers’ identities and persuading victims to invest in fake financial products.

Prosecutors said the conspirators obtained millions of dollars, while Amachukwu was also ordered to pay more than $3.6 million in restitution.

Source: YEN.com.gh