EFCC Arrests Auditor, Cashier For Alleged N275m Fraud In Uyo

Friday May 16, 2025 |

The Economic and Financial Crimes Commission (EFCC) said its operatives at the Uyo Zonal Directorate have arrested Sylvanus Edet Akpan, Auditor of Ubotex Limited, Uyo, and Akaninyene Enefiok Archibong, Cashier, for alleged criminal conspiracy, breach of trust, forgery, and stealing by conversion to the tune of N275,000,000 (Two Hundred and Seventy-Five Million Naira only).

The EFCC Spokesperson, Dele Oyewale, disclosed this in a statement on Thursday, saying the suspects were arrested separately on April 25, 2025, and May 12, 2025, in Uyo, Akwa Ibom State.

He said 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.

He further said, “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, falsified account books, and defrauded the company of N275 million by generating fictitious payment vouchers.

“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 N200 million was stolen by the suspects, but when the external auditors completed their review, they discovered that N275 million was actually stolen.”

Oyewale said both suspects admitted to the crimes and would be charged to court soon.