EFCC Arrests Managing Director For N57.5million Fraud

The Managing Director of Shariff Agric and General Service in Jos, one Ibrahim Abubakar, was on Friday, 13th October, 2023 arrested by the operatives of the Gombe Zonal Command of the Economic and Financial Crimes Commission, EFCC.

Abubakar was arrested for allegedly stealing the sum of N57,550,000.00, an amount erroneously paid into his company’s account.

According to EFCC in a press release by the Head of Media and Publicity, Dele Oyewale, when the money dropped in the account of Shariff Agric and General Services, the suspect diverted it for his own use.

EFCC said: “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 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(Tracknews)