An EFCC official confirmed the arrest to SaharaReporters in Abuja on Monday, stating that Ezuma was being investigated for alleged advance fee fr@ud, criminal breach of trust, money la¥ndering and other offences.
Investigators allege that Ezuma collected millions of dollars between 2007 and 2015 under the guise of financing mineral exploration and power projects that were never delivered.
The probe reportedly uncovered suspicious financial transactions involving companies and relatives linked to the businessman.
Battregen Limited, allegedly controlled by his 28-year-old son, Bogdan Ekene Ezuma, reportedly received ₦1.365 billion in purported loans between February and April 2025, despite recording no revenue during the period.
Investigators also reportedly traced another ₦953 million transfer to his son in July 2025, of which only ₦90 million was returned. Further transactions involving transfers of between ₦48 million and ₦50 million to his 26-year-old daughter, Bozhena Ezuma, and other associates were also identified.
The EFCC reportedly suspects that some of the transactions were used to move proceeds of the alleged fr@ud, although the legitimate business purposes of some transfers had yet to be established.
The investigation also covers alleged dealings involving Russian state-owned energy company Inter RAO UES and the privatisation of the Jos Steel Rolling Mill in Plateau State.
Ezuma allegedly took control of the facility, stripped it of assets and left hundreds of workers without their wages.
Investigators further allege that he shot and seriously wounded a business partner in Ukraine in 2008 before fleeing to Nigeria. He reportedly remains in the country despite an Interpol red notice.
The EFCC is said to be expanding its investigation and has appealed to members of the public and the businessman’s former associates to provide relevant information.
The allegations remain subject to investigation, and Ezuma’s arrest does not amount to a conviction.
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