EFCC Nabs Businessman for Diverting N57.5 Million Mistakenly Paid to His Account

The Gombe Zonal Command of the Economic and Financial Crimes Commission (EFCC) has arrested a Jos-based businessman, Ibrahim Abubakar, for allegedly diverting N57.5 million that was wrongly credited to his company’s account by another firm.

According to a press release by the EFCC on Friday, October 13, 2023, Abubakar is the managing director of Shariff Agric and General Service, a company that received the erroneous payment from Baker Drilling Service, which intended to pay Bluemoe Trade & Service.

The EFCC said that Baker Drilling Service mistakenly transferred the sum of N57,550,000.00 into the account of Shariff Agric and General Service, instead of Bluemoe Trade & Service. Both accounts are domiciled in the United Bank for Africa (UBA) respectively.

The anti-graft agency said that 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.

He then attempted to withdraw the remaining amount from his company’s account but was apprehended by the EFCC operatives.

The EFCC said that Abubakar will be charged to court as soon as investigations are concluded.

The EFCC urged the public to be honest and report any error in their bank transactions to the appropriate authorities. It also warned that anyone who tries to take advantage of such errors will face the full wrath of the law.

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

October 13, 2023

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