Auditor, Cashier Arrested for Alleged N275m Fraud in Akwa Ibom

Akwa Ibom map

By JUMOKE SANNI

Operatives of the Uyo Zonal Directorate of the Economic and Financial Crimes Commission EFCC, have arrested Sylvanus Edet Akpan, Auditor of Ubotex Limited, Uyo and Akaninyene Enefiok Achibong, 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).

They were arrested separately on April 25, 2025 and May 12, 2025 in Uyo, Akwa Ibom State.

Their arrest was based on the claims of a petitioner who alleged that the duo manipulated the accounts of Ubotex Limited and fraudulently stole N275m 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.

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.

Both suspects admitted to the crimes and will be charged to court soon.