News
N1.2 billion stolen as hackers, staff members compromise Sterling Bank’s sensitive data, security system
The Police Special Fraud Unit (PSFU), Ikoyi, Lagos has nabbed three men and two women for allegedly compromising Sterling Bank PLC’s banking platform and Bance Application and stealing N1, 257, 536, 572.50 billion.
According to a report by Nigerian Current, the suspects had been arraigned.
They reportedly committed the alleged crime between November 3 and 4, 2024, in connivance with some of the bank’s officers.
They were docked on Friday, January 17, 2024, by the police at the Federal High Court sitting in Lagos presided over by Justice Ambrose Lewis-Allagoa.
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, Oguntade Yetunde “F” 28.
Prosecution counsel, Justine Enang averred that the defendants committed the offences in a conspiracy with others now at large.
Enang said that the defendants connived with Sterling Bank’s internal staff members 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 transaction.
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 offences 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 offences 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 until 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.
Tension and grief have enveloped the political community in Enugu State following the suspected murder of the African Democratic Congress (ADC) Chairman in Udenu Local Government Area, Chisimdiri Emmanuel Ngwu.
Ngwu, said to be one of the longest-serving members of the ADC in the state, was reportedly found dead in the early hours of Wednesday, August 19, 2026, in circumstances suspected to be suspicious.
A family source, who spoke to our correspondent, said Ngwu left the house shortly after waking up on Wednesday morning but never returned alive.
“He woke up early in the morning on Wednesday and walked out and that was the last we heard of him,” the source said.
According to the source, the family became worried after discovering that Ngwu was missing, before his lifeless body was later found outside the compound.
“When we woke up, we didn’t see him only to discover his lifeless body in front of our compound. We saw scratches on his neck which was twisted backwards,” the source added.
The circumstances surrounding his death have continued to generate concern among family members, friends and political associates.
Meanwhile, two persons have reportedly been arrested in connection with the incident.
However, their identities and the circumstances surrounding their arrest were not immediately disclosed as of press time.
The development has reportedly sent shock waves through the ADC in Udenu and the wider political community in the state, with calls for a thorough investigation into the circumstances surrounding Ngwu’s death.
Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has claimed that President Bola Tinubu will relocate the capital of Nigeria to Lagos if he is declared the winner of the 2027 general elections.
Primate Ayodele made this statement in a video posted on X.
President Tinubu is seeking re-election under the platform of the ruling All Progressives Congress, APC.
Speaking about Tinubu’s re-election, the cleric said, “Lagos architecture will change. You may not see this one very seriously, but if Tinubu wins the second time, the capital of Nigeria will be relocated to Lagos.
“When this happens, the capital can be in Epe or Lekki or anywhere at all in Lagos.”
The Anambra State Police Command has uncovered the circumstances surrounding the alleged murder of a 56-year-old man, Mr Kelechi Madu, in Awkuzu, Oyi Local Government Area, two days after he was reported missing.
The development was disclosed in a statement issued on Friday, August 21, 2026, by the Police Public Relations Officer, SP Tochukwu Ikenga, who said the breakthrough followed a coordinated search and investigation by police operatives, local vigilantes and members of the deceased’s family.
Madu was reported missing by his wife on August 18, after he reportedly left home on the evening of August 17 and failed to return.
According to the Command, the search for the missing man took a grim turn later that day when his wife returned to the police station to report that he had been found dead in a nearby bush at Umuobi, Awkuzu.
Police operatives immediately mobilised to the scene, where they found Madu’s lifeless body with a deep axe wound to his head. His remains were subsequently evacuated and deposited at a hospital mortuary for preservation.
Following the discovery, detectives intensified their investigation and arrested the deceased’s 32-year-old friend, Mr Ifeanyi Nwankwo, who allegedly confessed to being involved in the planning of the killing.
Preliminary findings by the Command indicated that Nwankwo allegedly obtained money from Madu through fraudulent means, claiming he would assist him in acquiring a piece of land.
Police alleged that the suspect subsequently engaged two other persons to eliminate Madu in an attempt to conceal the alleged fraudulent transaction and prevent the victim from recovering the money.
The Command said two other suspects linked to the alleged plot were also arrested, bringing the number of persons apprehended in connection with the case to four.
The Commissioner of Police, Anambra State Command, CP Nnanna Oji Ama, psc, mnips, has directed investigators to intensify the probe and identify every person involved in the alleged conspiracy and murder.
The CP vowed that all persons found culpable would be brought to justice.
The Command, through Ikenga, assured residents that it would continue to strengthen intelligence-led policing and community partnerships to prevent violent crimes, uncover criminal networks and ensure that perpetrators face the full weight of the law.
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