EFCC Arraigns Three Company Staff for Alleged ₦174m Fraud in Akwa Ibom

The Economic and Financial Crimes Commission (EFCC), Uyo Zonal Directorate, has arraigned three employees of Ubotex Nigeria Limited for allegedly defrauding the company of ₦174,226,610.

Akaninyene Enefiok Archibong, Sylvanus Edet Akpan, and Glory Enefiok Archibong appeared before Justice Maurine Onyetenu of the Federal High Court in Uyo, Akwa Ibom State, facing 22-count charges including stealing, conspiracy, money laundering, and criminal diversion.

EFCC spokesperson Dele Oyewale stated that the charges cover transactions that occurred between January and December 2022, alleging that the defendants diverted company funds into personal accounts through forged authorizations and manipulated figures.

“One of the charges reads: ‘That you, Akaninyene Enefiok Archibong … fraudulently took possession of ₦58,600,500 through your First Bank account … knowing that the money formed part of the proceeds of an unlawful act…’” Oyewale said.

Investigations revealed that portions of the allegedly stolen funds were transferred to Glory Enefiok Archibong, who is accused of laundering the money through property acquisition and construction projects.

All three defendants pleaded not guilty. Prosecution counsel, Oluwatimileyin Faleye, requested the court to fix a trial date, while defence lawyers sought a short adjournment to file bail applications, noting that Glory Archibong is a nursing mother.

Justice Onyetenu granted Glory Archibong bail of ₦30 million with two sureties, including landed property, while Akaninyene Archibong and Sylvanus Akpan were remanded in the Nigerian Correctional Service facility in Uyo.

The court adjourned the matter to January 27, 2026, for commencement of trial and bail hearing for the two remanded defendants.

The suspects were arrested following a petition by Mr. Ubong Bassey Okon, Managing Director of Ubotex Nigeria Limited, who alleged that company funds were diverted by the cashier and auditor into personal accounts using forged payment vouchers.