EFCC arrests businessman for spending N57 million mistakenly sent to his account 

EFCC arrests businessman for spending N57 million mistakenly sent to his account 

The Economic and Financial Crimes Commission (EFCC) has detained Ibrahim Abubakar, the managing director of Shariff Agric and General Service in Jos, Plateau State for converting N57.5 million mistakenly credited to his company’s account, Shariff Agric and General Services, for personal use.

According to a statement issued by Dele Oyewale, Head, Media and Publicity, Ibrahim was arrested on Friday, October 6, 2023 by the Gombe Command of the Economic and Financial Crimes Commission.

EFCC revealed that Baker Drilling Service had erroneously transferred the sum of N57,550,000.00 into Shariff Agric and General Services’ account instead of Bluemoe Trade & Service, both domiciled in the United Bank for Africa.

In response to the bank’s notification of the error, Abubakar purportedly transferred N5,000,000.00 each to his personal accounts in UBA and Keystone banks. His subsequent attempts to withdraw the remaining amount triggered his arrest.

The agency said investigations are ongoing and Abubakar will face charges in court following the conclusion of the probe.