EFCC Nabs Sales Rep Over N70m Corporate Theft.
ENUGU — The Economic and Financial Crimes Commission (EFCC) has apprehended a sales representative for allegedly diverting over N70 million. Investigators linked the suspect, Ibekwe Izuchukwu Emmanuel, to a massive financial heist at Prince OJ Global Services. The anti-graft agency also arrested a Point of Sale (POS) operator for his alleged involvement. This accomplice, Miracle Onyekachi Nnaji, reportedly provided the bank accounts used to funnel the stolen cash. Consequently, the commission has moved both suspects into custody pending a formal appearance in federal court.
The elaborate scheme allegedly began in 2023 when the company noticed several massive gaps in revenue. An external auditor eventually uncovered the missing millions during a rigorous review of the corporate books. The audit revealed that Emmanuel siphoned exactly N70,030,450 while performing his daily duties for the firm. Furthermore, the suspect allegedly used a significant portion of the loot to acquire real estate. He reportedly purchased a lucrative parcel of land within the borders of Enugu State recently.
During questioning, Emmanuel confessed to the crime but claimed he already returned some of the money. He stated that he refunded approximately N15 million to his employer in the middle of 2025. This partial repayment occurred only after his supervisor confronted him with the damning evidence of fraud. Conversely, the EFCC maintains that the recovery of small portions does not absolve the criminal act. The agency continues to track the remaining balance to ensure the company receives full financial restitution.
In a related development, the role of the POS operator highlights a growing trend in digital fraud. Criminals now frequently use mobile money agents to bypass traditional banking alerts and corporate oversight. The EFCC warned that any individual facilitating illegal transfers will face the full weight of law. Furthermore, they urged Nigerian business owners to implement more frequent and unpredictable internal financial audits today. These measures remain essential to protect small and medium enterprises from the threat of internal sabotage.
Ultimately, this case underscores the high risks associated with unsupervised financial authority in the retail sector. The suspects will remain in detention until the legal team concludes its final discreet investigation. Experts believe this incident should serve as a wake-up call for corporate governance across the nation. Vigilance remains the only effective deterrent against the rising tide of sophisticated employee-led financial misconduct.