He ‘Transferred’ Five Million Each To His Personal Account In UBA And Keystone Banks – How EFCC Arrested Man Over N57.5m Mistakenly Sent To His Company’s Account

He ‘Transferred’ Five Million Each To His Personal Account In UBA And Keystone Banks – How EFCC Arrested Man Over N57.5m Mistakenly Sent To His Company’s Account

The Economic and Financial Crimes Commission (EFCC) has reported the apprehension of Ibrahim Abubakar in connection with N57.5 million erroneously credited to his company’s bank account.

As stated in the commission’s release on Friday, Mr. Abubakar, who serves as the managing director of Shariff Agric and General Service, allegedly moved a total of N10 million to his personal accounts before his arrest.

He purportedly distributed N5 million into separate accounts at UBA and Keystone banks, totaling N10 million.

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“Efforts to withdraw the remaining funds resulted in his apprehension,” explained Dele Oyewale, the commission’s spokesperson, in the statement released on Friday.

The suspect was taken into custody on October 6, the statement further indicated. It outlined that a company named Baker Drilling Service had mistakenly remitted the sum of N57,550,000 to Mr. Abubakar’s bank account.

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.

Dele Oyewale

Head, Media & Publicity

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