The Police Special Fraud Unit (PSFU), Ikoyi, Lagos has accused three men and two women of compromising Sterling Bank Plc’s banking platform and Bance Application and stealing N1, 257, 536, 572.50 billion.
The defendants were said to have committed the alleged crime between November 3 and 4, 2024, in connivance with some of the bank’s officers.
On Friday, January 17, 2024, the police brought the alleged internet hackers before Justice Ambrose Lewis-Allagoa of the Federal High Court sitting in Lagos.
They were arraigned on a three-count charge of conspiracy, hacking, unlawful possession, and conversion of funds.
The five are Victor Nwabueze Ogochukwu “M”, 50; Favour Odey “F,” 22; Adekunle Daniel “M,” 34; Akachukwu Alagbogu “M” and 28 years old Oguntade Yetunde “F.”
Prosecution counsel Justine Enang alleged that the defendants committed the offences in a conspiracy with others now at large.
Enang alleged that the defendants connived with Sterling Bank’s internal staff and external parties to possibly compromise the bank’s sensitive data and security system, using international mobile equipment identity 14984244, IP address 84252.113.3, and 88 transactions.
He told the court that the defendants’ 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.
According to the prosecutor, the offenses were also contrary to and punishable under Section 18(2)(b) & (d) and Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Each of the five defendants pleaded not guilty to the allegations.
Following their plea, their lawyers moved their bail applications, praying the court to admit their clients to bail “in the most liberal terms.”
But Enang opposed the applications on the grounds, among others, that “the defendants are a flight risk”.
Ruling on the bail applications, Justice Lewis-Allagoa noted that the offenses were bailable.
The judge admitted each defendant to bail in the sum of N50 million with one surety in the like sum. The surety must be a landed property owner within the court’s jurisdiction.
Justice Lewis-Allagoa remanded the defendants in the custody of the Nigerian Correctional Services (NCoS), pending the perfection of the bail conditions.
He adjourned till March 13, for trial.
