Alleged N700 Billion Fraud: CACOL Commends EFCC’s Investigation Of Ex- Akwa Ibom Gov, Udom Emmanuel

The Centre for Anti-Corruption and Open Leadership, CACOL, has commended the Economic and Financial Crimes Commission (EFCC) for its decisive action in inviting and quizzing  former Akwa Ibom State Governor Udom Emmanuel over allegations of a N700 billion fraud. This action underscores the EFCC’s unwavering commitment to combating corruption and promoting accountability within Nigeria’s public sector.

In a release issued by CACOL and signed by Tola Oresanwo, the anti-corruption organization’s Director, Administration and Programmes on behalf of its Chairman, Mr. Debo Adeniran, he stated, “We received the news that the EFCC invited and detained Mr. Udom Emmanuel after honouring the EFCC’s invitation to answer “allegations of money laundering, diversion of funds, and stealing from the state coffers.

It will be recalled that Mr. Emmanuel, who served as governor from 2015 to 2023, was taken into custody on March 4, 2025, following an invitation to the EFCC’s headquarters in Abuja. The arrest stems from a petition by the Network Against Corruption and Trafficking (NACAT), which alleges that during his tenure, Mr. Emmanuel received N3 trillion from the Federation Account but left behind a debt profile of N500 billion and unpaid ongoing projects worth N300 billion. Additionally, he is accused of being unable to account for N700 billion.

We applaud the EFCC for its relentless pursuit of justice and its efforts to ensure that public officeholders are held accountable for their actions. Such measures are vital in fostering transparency, deterring future misconduct, and reinforcing public trust in our institutions.

We would also use this medium to remind our public office holders to be ready to give account of their stewardship whenever they are called upon to do so.

We urge the EFCC to continue its diligent investigation into this matter and to uphold the principles of fairness and due process, while respecting the judicial system. We also call upon all citizens and public servants to support the fight against corruption, recognizing that a transparent and accountable governance system is essential for Nigeria’s progress and development.