Businessman Testifies in N175m Fraud Case Against Banker

Dr. Jude Ndudi testified at the Federal High Court in Lagos against former bank manager Fide Eguek in a case involving an alleged N175 million fraud.

Ndudi, the first prosecution witness, provided evidence under Justice Alexander Owoey in case number FHC/L/298C/2020. He detailed a business transaction that began on December 4, 2018, involving a proposed loan arrangement of N100 million for a company identified as Fiogret, which was to import frozen fish.

Ndudi explained that the arrangement included six post-dated cheques totaling N110 million, but the cheques were dishonored when presented for payment. He reported the matter to the police on February 24, 2020, after unsuccessful attempts to recover the funds.

The defense, represented by Chief Nelson Imoh, acknowledged a personal relationship with Ndudi but maintained that it did not influence his testimony. The trial has been adjourned until July 9, 2026, with the defendant first arraigned in November 2020.