BREAKING: Nigeria’s EFCC Arrests, Grills Madonna University Deputy VC Over Alleged Fraud, Releases Him On Bail

Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has reportedly arrested the Deputy Vice Chancellor of Madonna University, Okija, Anambra State, Professor Martin Anagboso, over allegations of stealing company shares and falsifying documents related to Mayfresh Mortgage Bank at the Corporate Affairs Commission (CAC).

SaharaReporters learned that Anagboso was apprehended last Thursday at the Nnamdi Azikiwe International Airport in Abuja while attempting to travel to Mexico to attend a conference of the International Federation of Catholic Universities (IFCU).

Sources also disclosed that Reverend Father Professor Emmanuel Edeh, founder of Madonna University and a major shareholder in Mayfresh Mortgage Bank, has been interrogated in connection with the case.

"EFCC went to Elele, Rivers State, to question Fr. Ede over the issue of share manipulation of MayFresh Loans Limited. They questioned the Reverend Father for more than three hours," said a source close to the case on Thursday.

Although the Deputy Vice Chancellor of Madonna University was reportedly released on Tuesday after spending five days in EFCC custody, sources told SaharaReporters that he has been pressuring Reverend Father Edeh to convince his relatives to withdraw the case.

The petition being investigated by the EFCC was allegedly filed by Edeh’s relatives.

SaharaReporters gathered that the late Chief Steven Edeh, Mr. John Paul, and Mrs. Maria Omego—whose shares in Mayfresh Mortgage Bank were allegedly tampered with—had, through their lawyer, Mr. Olu Omotayo, petitioned the EFCC chairman on May 2.

In the petition, they called for an urgent investigation into the alleged theft of their shares and the alteration of company records at the Corporate Affairs Commission (CAC), warning that such acts posed a threat to national development and investor confidence if left unchecked.

The petition, which SaharaReporters obtained on Thursday, was also copied to the National Security Adviser, Mallam Nuhu Ribadu. It cited Section 175(3) of the Companies and Allied Matters Act (CAMA) 2020 (as amended), which governs share transfers in Nigeria and binds all parties, including the CAC.

The petitioners argued that even a company’s resolution cannot strip shareholders of their ownership, as shares remain the personal property of an individual until lawfully transferred.

The petition to the EFCC urged the agency to focus solely on the criminal aspect of the alleged unauthorised removal of shareholding records at the Corporate Affairs Commission (CAC), rather than delving into civil matters like the administration of Mayfresh Mortgage Bank.

It explained that an earlier petition dated November 5, 2024, was submitted to the National Security Adviser, who referred the matter to the EFCC.

The complaint centred on the alleged theft of shares belonging to Chief Steven Edeh (now late), Arc. John Paul, and Mrs. Maria Edeh-Omego, allegedly carried out with the help of some CAC officials.

The petitioners stated that when they met with EFCC investigators in February 2025, the focus shifted to bank administration issues rather than the criminal complaint regarding the removal of their shares.

This failure to address their grievance reportedly caused distress that contributed to the death of 75-year-old Chief Edeh in March 2025.

Meanwhile, the EFCC confirmed the arrest and questioning of Anagboso.

EFCC spokesperson and Deputy Commander, Mr. Dele Oyewale, confirmed the arrest in a telephone conversation with SaharaReporters, but stated that the case is still under investigation.

"Yes, the commission arrested him, and after questioning and volunteering his statement, he was released on bail on certain conditions,” he said.