Innocent Ezuma
By Victory Oghene
Abuja based businessman and Executive Chairman/CEO of Etazuma (Eta-Zuma Group), Innocent Ezuma is currently spending day two in the custody of the Economic and Financial Crimes Commission (EFCC) after he was arrested
on Monday at his residence in Abuja over allegations of defrauding a Ukrainian investor of more than $120m in funds purportedly meant for mineral exploration and power projects.
The EFCC spokesperson, Dele Oyewale, confirmed the arrest to newsmen on Tuesday but declined to disclose further details about the investigation.
Sources familiar with the case informed NATIONAL WAVES that the businessman was being investigated over alleged advance fee fraud, criminal breach of trust, conversion of funds, obtaining money under false pretences, theft and money laundering.
According to one of the sources, Ezuma allegedly collected millions of dollars from the Ukrainian investor between 2007 and 2015 for mineral exploration and power projects that were never executed.
The source further alleged that the funds were diverted for personal use, adding that investigators were tracing transfers worth billions of naira to companies and individuals linked to the businessman, including his children.
Another source said the commission was broadening its investigation and seeking information from members of the public and Ezuma’s former associates to establish the full scope of the alleged transactions.
The allegations reportedly extend to the businessman’s previous dealings in Ukraine and Nigeria.
The source claimed that, in the mid-2000s, Ezuma persuaded two Ukrainian businessmen to provide funds for the privatisation of Jos Steel Rolling Mill in Plateau State before allegedly taking exclusive control of the facility.
The source further alleged that the businessman stripped the facility of its assets and abandoned hundreds of workers without paying their wages.
Ezuma was also accused of shooting and seriously injuring one of his business partners during a confrontation in Ukraine on April 28, 2008, before fleeing to Nigeria, according to the source.
Oyewale reiterated that the businessman was arrested at his Abuja residence on Monday but declined to comment further on the allegations.
The allegations against Ezuma have yet to be established in court.
