EFCC Arraigns Three Over Alleged ₦174M 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 in Uyo, Akwa Ibom State, over alleged stealing, conspiracy, money laundering, and criminal diversion totaling ₦174,226,610.

EFCC spokesperson Dele Oyewale disclosed in a statement on Thursday that the suspects were arraigned on Friday, November 7, 2025, on twenty-two-count charges.

“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,’” Oyewale said.

He added, “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.’”

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All three defendants pleaded not guilty to the charges.

Following their pleas, prosecution counsel Oluwatimileyin Faleye requested that the court fix a trial date to enable the prosecution to prove its case. Defence counsels, Imeh Eduk and Ndifreke Inyangette, sought a short adjournment to file formal bail applications and made an oral plea for bail for the third defendant, Glory Archibong, citing her status as a nursing mother.

Justice Onyetenu granted bail to Glory Archibong in the sum of ₦30 million with two sureties of similar value, including landed properties within the court’s jurisdiction. Akaninyene Archibong and Sylvanus Akpan were remanded at the Nigerian Correctional Service facility in Uyo.

The case has been adjourned to January 27, 2026, for bail hearing and commencement of trial.

The defendants were arrested following a petition by Mr. Ubong Bassey Okon, Managing Director of Ubotex Nigeria Limited. According to the petitioner, Akaninyene Archibong and Sylvanus Akpan, who worked as cashier and auditor respectively, allegedly conspired to divert company funds into personal accounts by manipulating payment vouchers with forged authorizations.

Investigations revealed that Akaninyene Archibong transferred portions of the alleged stolen funds to his younger sister, Glory Enefiok Archibong, who allegedly laundered the money through property acquisitions and construction projects to conceal the source of the illicit funds.