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EFCC arrests man over N57.5m mistakenly sent to his company’s account

October 14, 2023

EFCC says the suspect had transferred a total of N10 million to his two other accounts before his arrest.

The Economic and Financial Crimes Commission (EFCC) says it has arrested Ibrahim Abubakar over N57.5 million that was mistakenly sent to his company’s bank account.

A statement by the commission on Friday said Mr Abubakar, who is the managing director of Shariff Agric and General Service, had transferred a total of N10 million to his two personal accounts before his arrest.

He allegedly transferred the sum of N5 million each, making a total of N10 million, to his personal accounts in UBA and Keystone banks respectively.

“Subsequent attempts made to withdraw the remaining amount led to his arrest,” Dele Oyewale, the spokesperson said in the statement on Friday.

 

The suspect was arrested on 6 October, the statement added.

It said a firm, Baker Drilling Service, had mistakenly transferred the sum of N57,550,000 to the bank account of Mr Abubakar.

READ EFCC’S FULL STATEMENT

EFCC PRESS RELEASE

EFCC Arrests man for N57.5million Fraud in Jos

Operatives of the Gombe Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested one Ibrahim Abubakar, managing director of Shariff Agric and General Service in Jos, Plateau State, for stealing N57,550,000.00( Fifty Seven Million, Five Hundred and Fifty Thousand Naira only).

 

He was arrested on Friday, October 6, 2023 for allegedly converting N57.5million erroneously paid into his company: Shariff Agric and General Services’ account, for his own use.

Baker Drilling Service allegedly transferred the sum of N57,550,000.00 into the account of Shariff Agric and General Services , instead of Bluemoe Trade & Service. Both accounts are domiciled in the United Bank for Africa respectively.

After the bank alerted Abubakar of the wrong posting into his company’s account, he allegedly transferred the sum of Five Million (N5,000,000.00) each to his personal account in UBA and Keystone banks respectively. Subsequent attempts made to withdraw the remaining amount led to his arrest.

He will be charged to court as soon as investigations are concluded.

 

Credit:Premium Times

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