The Economic and Financial Crimes Commission (EFCC) has arrested two employees of Ubotex Limited in Uyo for allegedly stealing N275 million through forged documents and fraudulent transactions.
According to EFCC spokesperson Dele Oyewale, auditor Sylvanus Edet Akpan and cashier Akaninyene Enefiok Archibong were arrested separately on April 25 and May 12, 2025, following a petition alleging financial misconduct.
"The suspects manipulated company records, created fake payment vouchers, and forged signatures to siphon funds over four years," Oyewale stated. "While initial suspicions pointed to N200 million, a forensic audit uncovered the full N275 million theft."
Both suspects have reportedly confessed and will soon face prosecution. The EFCC warns businesses to strengthen internal controls to prevent such fraud.
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