EFCC To Prosecute Auditor, Cashier Over N275m Fraud In Akwa Ibom

The Economic and Financial Crimes Commission (EFCC), Uyo, Akwa Ibom State Zonal Command said plans have been concluded to arraign two suspects in connection with alleged financial fraud running into N275 million.

EFCC’s Head of Media and Publicity, Dele Ojewale, who disclosed this recalled that operatives of the Directorate had earlier arrested one Sylvanus Edet Akpan, an Auditor with Ubotex Limited in Uyo and co-accomplice, Akaninyene Enefiok Achibong, a Cashier with a building material firm.

LEADERSHIP learnt that the suspects who were arrested following a petition by the firm’s owner, Ubong Obot, would be charged for alleged criminal conspiracy, breach of trust, forgery and stealing by conversion to the tune of N275 million.

Ojewale recalled that the suspects were arrested separately on April 25, 2025 and May 12, 2025 in Uyo, the state capital.

“Their arrest was based on the claims of a petitioner who alleged that the duo manipulated the accounts of Ubotex Limited and fraudulently stole N275 million from the company.

“The petitioner allegedly employed the services of an external Auditor to review and audit the financial activities of the company between 2021 and 2025 and discovered that the suspects conspired and falsified account books and defrauded the company of N275m by generating fictitious payment vouchers,” Ojewale said.

The anti-graft agency further revealed that the auditors found out that the suspects also forged signatures of scheduled staff members saddled with various responsibilities and used the same to steal funds from the company.

“The petitioner suspected that N200m was allegedly stolen by the suspects but when the external auditors completed their reviews, they discovered that N275m was actually stolen by the suspects,” the EFCC said.

It further declared that both suspects have admitted to the crimes and will be charged to court soon.