Five suspects including three men and two women have been arrested by the Nigeria Police Special Fraud Unit (PSFU), Ikoyi, Lagos over allegation of compromising the banking platform and Bance Application of Sterling Bank Plc and allegedly stealing N1, 257,536,572.50 billion.
The suspects included; Victor Nwabueze Ogochukwu “M” 50; Favour Odey “F” 22; Adekunle Daniel “M” 34; Akachukwu Alagbogu “M” and, Oguntade Yetunde “F” 28.
The suspects were reported to have committed the offense between November 3 and 4, 2024, in connivance with some of the staff of the bank and were arraigned before a Federal High Court; in Lagos presided over by Justice Ambrose Lewis-Allagoa on Friday, January 17, 2024 on a three-count charge of conspiracy, hacking, unlawful possession, and conversion of funds.
The prosecution counsel, Justine Enang told the court that the defendants committed the offences in a connivance with others at large.
The prosecutor added that the defendants connived with some staff of Sterling Bank as well as external parties to compromise the bank’s sensitive data and security system, using international mobile equipment identity 14984244, IP address 84252.113.3, and 88 transactions.
Enang said the alleged acts committed by the suspects contravened sections 27(1) (b) and 14(1) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015, as amended in 2024, read along with section 14(1) of the same Act.
The prosecutor also told the court that the offenses were contrary to and punishable under Section 18(2)(b) & (d) and Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
All five defendants pleaded not guilty to the allegations and following their plea, their counsels moved their bail applications, praying the court to admit their clients to bail “in the most liberal terms.”
But, Enang opposed the bail applications stressing that the suspects are flight risks.
Ruling on the bail applications, Justice Lewis-Allagoa held that the offenses were bailable and admitted each of the defendants to bail in the sum of N50 million with one surety in the like sum, stressing that the surety must be a landed property owner within the court’s jurisdiction.
Justice Lewis-Allagoa thereafter said that the defendants should be remanded at the Nigerian Correctional Services (NCoS), pending the perfection of the bail conditions.
The trial judge accordingly adjourned the case till March 13, 2025, for trial.
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