The Economic and Financial Crimes Commission (EFCC), have effected the arrest of the Group Managing Director of a Lagos based financial services company, BGL Plc, Mr. Albert Okumagba, over alleged N28.9bn fraud.

It would be recalled that the BGL boss had on Thursday in a failed bid attempted to regain freedom through an interim injunction stopping the anti-graft agency from arresting him.

This is because Justice Mohammed Yunusa of a Federal High Court sitting in Ikoyi refused to grant the ex parte application canvassed by Okumagba’s counsel, Kolawole Reheem.
The judge also declined to direct the EFCC to appear before the court to explain why Okumagba’s prayers should not be granted.

Instead, Justice Yunusa ordered that the processes be served on the respondents in Lagos as prayed in reliefs 5 and 6.

Okumagba was reported to have been arrested by operatives of the EFCC on Wednesday apparently in response to a petition by the Security and Exchange Commission (SEC) in May, 2015.

Meanwhile, Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, confirmed the arrest and interrogation of the BGL boss.

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