The Economic and Financial Crimes Commission (EFCC), Uyo Zonal Directorate, has arraigned three individuals — Akaninyene Enefiok Archibong, Sylvanus Edet Akpan, and Glory Enefiok Archibong — for allegedly diverting and laundering company funds amounting to ₦174,226,610.
The trio were brought before Justice Maurine Onyetenu of the Federal High Court sitting in Uyo, Akwa Ibom State, on November 7, 2025, on a 22-count charge bordering on stealing, conspiracy, criminal diversion, and money laundering.
According to a statement issued on Thursday by EFCC spokesperson, Dele Oyewale, the defendants were accused of misappropriating the funds belonging to Ubotex Nigeria Limited, where two of them had worked as cashier and auditor.
One of the charges reads: “That you, Akaninyene Enefiok Archibong, sometime between January and December 2022, fraudulently took possession of ₦58,600,500 through your First Bank account, knowing that the money formed part of the proceeds of an unlawful act, to wit: stealing by conversion…”
Another charge alleged that “Glory Enefiok Archibong, sometime in 2022, took possession of ₦14,090,000 through her Zenith Bank account, knowing it was part of the proceeds of money laundering.”
All three defendants pleaded not guilty to the charges.
Following their plea, prosecution counsel, Oluwatimileyin Faleye, urged the court to fix a date for trial to enable the EFCC to present its evidence.
However, defence counsel, Imeh Eduk and Ndifreke Inyangette, sought a short adjournment to file formal bail applications and made an oral request for bail for the third defendant, Glory Archibong, citing that she is a nursing mother.
Justice Onyetenu granted Glory Archibong bail in the sum of ₦30 million with two sureties in like sum, who must possess landed property within the court’s jurisdiction.
The judge ordered that the first and second defendants, Akaninyene Archibong and Sylvanus Akpan, be remanded at the Nigerian Correctional Service facility in Uyo pending their bail hearing.
The case was adjourned till January 27, 2026, for bail consideration and commencement of trial.
According to the EFCC, investigations revealed that the suspects allegedly conspired to divert funds from Ubotex Nigeria Limited into personal accounts using forged authorizations on payment vouchers.
Further findings showed that portions of the stolen money were transferred to Glory Archibong, who allegedly helped conceal the proceeds through property purchases and construction projects.