By Godbless Adjus

The Economic and Financial Crimes Commission (EFCC) says its operatives from the Lagos Zonal Command have arrested a former Minister of Commerce and Industry, Charles Ugwuh, for an alleged conspiracy and fraud to the tune of 3.6billion naira.

Head Media and Publicity of the EFCC, Dele Oyewale in a statement, said Ugwuh was arrested alongside Chief Geoffrey Ekenma on January 11, in Owerri, Imo State.

According to the anti-graft agency, investigations revealed that Ugwuh and Ekenma, Managing Director, Ebony Agro Industries Limited., allegedly obtained a loan facility from the bank for the purchase and production of polished rice.

However, the suspect, according to the petitioner, failed to meet up his obligations to the bank and all efforts to get him to repay the loan facility proved abortive.