EFCC Arraigns Three for ₦174m UBOTEX Fraud in Uyo

The Economic and Financial Crimes Commission, EFCC, Uyo Zonal Directorate, has arraigned Akaninyene Enefiok Archibong, Sylvanus Edet Akpan, and Glory Enefiok Archibong before Justice Maurine Onyetenu of the Federal High Court sitting in Uyo, Akwa Ibom State.

They were arraigned on Friday, November 7, 2025 on twenty-two count charges bordering on stealing, conspiracy, money laundering and criminal diversion to the tune of ₦174,226,610 (One hundred and Seventy-four million, Two hundred and Twenty-six thousand, Six hundred and ten Naira).

One of the charges reads:

“That you, Akaninyene Enefiok Archibong sometime between January and December 2022, in Nigeria, within the jurisdiction of this Honourable Court, fraudulently took possession of the sum of ₦58,600,500.00 through your First Bank account number 3055162976, knowing that the money formed part of the proceeds of an unlawful act, to wit: stealing by conversion, contrary to Section 18(2)(d) of the Money Laundering (Prohibition and Prevention) Act, 2022, and punishable under Section 18(3) of the same Act.”

Another count reads:

“That you, Glory Enefiok Archibong sometime in 2022, in Nigeria, within the jurisdiction of this Honourable Court, took possession of the sum of ₦14,090,000.00 through your Zenith Bank account number 2256436893, knowing that the money formed part of the proceeds of an unlawful act, to wit: money laundering and thereby committed an offence contrary to Section 18(2)(d) and punishable under Section 18(3) of the Money Laundering (Prohibition and Prevention) Act, 2022.”

They all pleaded not guilty to the charges when they were read to them.

In view of their pleas, prosecution counsel, Oluwatimileyin Faleye prayed the court to fix a date for trial to enable the prosecution to prove its case against the defendants. However, defence counsel, Imeh Eduk and Ndifreke Inyangette sued for a short adjournment to enable them file formal bail applications for the defendants. They also made an oral application for the third defendant on the ground of being a nursing mother.

After listening to both sides, Justice Onyetenu granted the third defendant, Glory Archibong bail in the sum of ₦30 million, with two sureties in like sum, and landed properties within the jurisdiction of the court. The court ordered that Akaninyene Archibong and Sylvanus Akpan be remanded at the Nigerian Correctional Service facility in Uyo, Akwa Ibom State.

The case was adjourned till January 27, 2026, for bail hearing and commencement of trial.

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The defendants were arrested in Uyo, following claims of a petitioner, Mr. Ubong Bassey Okon, Managing Director of Ubotex Nigeria Limited, a building materials company located at Ifa Ikot Okpon Timber Market in Uyo, Akwa Ibom State.

According to the petitioner, Akaninyene Archibong and Sylvanus Akpan, who worked in the company as cashier and auditor respectively, allegedly conspired and diverted company funds into personal accounts, by manipulating figures with forged authorizations on payment vouchers.

Investigations into the matter revealed that Akaninyene Archibong transferred portions of the stolen funds to his younger sister, Glory Enefiok Archibong, who played a critical role in laundering the said funds via property acquisition and constructions, aimed at concealing the source of the illicit funds.