Police nab 5 suspects, staff members, for stealing ₦1.3bn from Sterling Bank
Story by Dajen Comfort Yakubu
The Nigeria Police Special Fraud Unit (PSFU), Ikoyi, Lagos have arrested three men and two women over allegations of compromising the banking platform and Bance Application of Sterling Bank Plc to steal ₦1,257,536,572.50 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.
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The prosecution counsel, Justine Enang told the court that the defendants committed the offences in 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 transactions
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 three defendants pleaded not guilty to the allegations. 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 were flight risks.
Ruling on the bail applications, Justice Lewis-Allagoa held that the offences were bailable and admitted each of the defendants to bail in the sum of ₦50 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 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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