The Nigeria Police Special Fraud Unit (PSFU), Ikoyi, Lagos has arrested five suspects made up of three men and two women over allegation of compromising the banking platform and Bance Application of Sterling Bank Plc and purportedly stole N1, 257, 536, 572.50 billion.
The five suspects who were docked on Friday, January 17, 2024 by the Nigeria Police Force at a Federal High Court, Lagos, were reported to have committed the offence between November 3 and 4, 2024, in connivance with some of the staff of the bank.
They were arraigned on a three-count charge of conspiracy, hacking, unlawful possession, and conversion of funds before Justice Ambrose Lewis-Allagoa.
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 prosecution counsel, Justine Enang told the court that the defendants committed the offences in a connivance with others presently at large.
The prosecutor further said that the defendants connived with some insider staff members 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 transaction.
Enang also said that the suspects’ alleged acts 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 offences 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 the 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 offences were bailable and admitted each 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.
The charges read; “That you Victor Nwabueze Ogochukwy “m”, Favour Odey “f’, Adekunle Daniel “m”, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, within the jurisdiction of the Judicial Division of The Federal High Court, with intent to defraud, did conspire amongst yourselves to commit a felony to wit: internet fraud to the sum of N1, 257, 536, 572.50 (One Billion, Two Hundred and Fifty-Seven Million, Five Hundred and Thirty-Six Thousand, Five Hundred and Seventy-Two Naira, Fifty Kobo) by false pretence and thereby committed an offence contrary to section 27(1)(b) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as amended in 2024, Read along with section 14(1) of the same Act.
“That you Victor Nwabueze Ogochukwu “m”, Favour Odey “f’, Adekunle Daniel “m”, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, did knowingly and without authority cause financial loss to Sterling Bank Plc to the tune of N1, 257, 536, 572. 80 (One Billion, Two Hundred and Fifty-Seven Million, Five Hundred and Thirty-Six Thousand, Five Hundred and Seventy-Two Naira, Fifty Kobo) by suppressing one of the banking platform and Bance Application from their various customers’ account to different fraudulent accounts with the collusion of an internal staff/external parties for possible compromise on sensitive data and security system of the bank by using international mobile equipment identity 14984244, IP address 84252.113.3 & 88 transaction, thereby conferred economic benefits on yourselves by converting the money in question to your own use against the Sterling Bank Plc and thereby committed an offence contrary to and punishable under Section 14(1) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as Amended in 2024.
“That you Victor Nwabueze Ogochukwu ‘m’, Favour Odey ‘f, Adekunle Daniel ‘m’, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, did directly or indirectly convert or transfer, retain or take possession or control of funds belonging to Sterling Bank Plc, knowingly or reasonably ought to have known that such funds is, or forms part of the proceeds of an unlawful Act and thereby committed an offence contrary to Section 18(2)(b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Staff, Hackers, Compromise Sterling Bank’s, Data, System, Steal N1.3bn
The Police Special Fraud Unit (PSFU), Ikoyi, Lagos has arrested five suspects made up of three men and two women over allegation of compromising the banking platform and Bance Application of Sterling Bank Plc and purportedly stole N1, 257, 536, 572.50 billion.
A report by Nigerian Current said that the suspects had been arraigned.
The five suspects who were docked on Friday, January 17, 2024 by the Nigeria Police Force at a Federal High Court, Lagos, were reported to have committed the offence between November 3 and 4, 2024, in connivance with some of the staff of the bank.
They were arraigned on a three-count charge of conspiracy, hacking, unlawful possession, and conversion of funds before Justice Ambrose Lewis-Allagoa.
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 prosecution counsel, Justine Enang told the court that the defendants committed the offences in a connivance with others presently at large.
The prosecutor further said that the defendants connived with some insider staff members 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 transaction.
Enang also said that the suspects’ alleged acts 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 offences 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 the 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 offences were bailable and admitted each 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.
The charges read; “That you Victor Nwabueze Ogochukwy “m”, Favour Odey “f’, Adekunle Daniel “m”, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, within the jurisdiction of the Judicial Division of The Federal High Court, with intent to defraud, did conspire amongst yourselves to commit a felony to wit: internet fraud to the sum of N1, 257, 536, 572.50 (One Billion, Two Hundred and Fifty-Seven Million, Five Hundred and Thirty-Six Thousand, Five Hundred and Seventy-Two Naira, Fifty Kobo) by false pretence and thereby committed an offence contrary to section 27(1)(b) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as amended in 2024, Read along with section 14(1) of the same Act.
“That you Victor Nwabueze Ogochukwu “m”, Favour Odey “f’, Adekunle Daniel “m”, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, did knowingly and without authority cause financial loss to Sterling Bank Plc to the tune of N1, 257, 536, 572. 80 (One Billion, Two Hundred and Fifty-Seven Million, Five Hundred and Thirty-Six Thousand, Five Hundred and Seventy-Two Naira, Fifty Kobo) by suppressing one of the banking platform and Bance Application from their various customers’ account to different fraudulent accounts with the collusion of an internal staff/external parties for possible compromise on sensitive data and security system of the bank by using international mobile equipment identity 14984244, IP address 84252.113.3 & 88 transaction, thereby conferred economic benefits on yourselves by converting the money in question to your own use against the Sterling Bank Plc and thereby committed an offence contrary to and punishable under Section 14(1) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as Amended in 2024.
“That you Victor Nwabueze Ogochukwu ‘m’, Favour Odey ‘f, Adekunle Daniel ‘m’, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, did directly or indirectly convert or transfer, retain or take possession or control of funds belonging to Sterling Bank Plc, knowingly or reasonably ought to have known that such funds is, or forms part of the proceeds of an unlawful Act and thereby committed an offence contrary to Section 18(2)(b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
