EFCC Arrests Businessman for Alleged N57.5 Million Theft in Jos

Israel Adeleke

Operatives from the Gombe Zonal Command of the Economic and Financial Crimes Commission (EFCC) have apprehended Ibrahim Abubakar, the Managing Director of Shariff Agric and General Service, on charges of embezzling N57,550,000 (Fifty-Seven Million, Five Hundred and Fifty Thousand Naira) in Jos, Plateau State.

In a statement released by the agency on Friday, it was revealed that Baker Drilling Service mistakenly transferred the funds to Abubakar’s company account, Shariff Agric and General Services, instead of Bluemoe Trade & Service.

Following the erroneous transaction, Abubakar transferred N10 million to two personal accounts, allegedly funneling Five Million Naira (N5,000,000.00) into his accounts at UBA and Keystone banks, respectively.

However, his attempt to withdraw the remaining amount from his business account resulted in his arrest on Friday, October 6, 2023.

The statement concluded, “He will be brought before the court once the investigations are finalized.”

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