Connect with us

News

Staff hack Sterling Bank system, steal depositors’ N1.2bn funds

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Sterling Bank Limited and its holding company, Sterling Financial Holdings Company, are currently battling a N1.257, 536, 572. 80 billion depositors’ funds which were stolen from the bank by some of its staff.

The staff allegedly colluded with some fraudsters to hack the bank’s banking platform and stole the said fund.

The suspects, namely Victor Nwabueze (50), Favour Odey (22), Adekunle Daniel (34), Akachukwu Alagbogu, and Yetunde Oguntade (28)—were arraigned by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos, before Justice Ambrose Lewis-Allagoa at the Federal High Court in Lagos on Thursday.

The group faced a three-count charge of conspiracy, hacking, and money laundering under the Cybercrimes Act and Money Laundering Prohibition Act.

Advertisement

The prosecutor, Barrister Justine Enang, alleges that the suspects, in collaboration with internal staff of Sterling Bank, breached sensitive systems between November 3 and 4, 2024, using compromised data, including IP addresses and mobile equipment identities – 14984244, IP address 84252.113.3 & 88 transaction., to transfer funds to fraudulent accounts.

He informed the court that the alleged acts of the defendants contravened sections 27(1)(b); 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.

Enang also told the court that the defendants’ act was contrary to and punishable under Section 18(2)(b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

The Charges Against The Defendants 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.

Advertisement

“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, within the aforementioned Judicial Division of The Federal High Court, did knowingly and without authority cause financial lost 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, in the aforementioned Judicial Division of Federal High Court, Lagos, did directly or indirectly converts or transfers, retains or takes 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.”

While they pleaded not guilty, the prosecution opposed bail, citing the defendants’ potential flight risk.

Justice Lewis-Allagoa eventually granted bail at N50 million each, with one surety who must own landed property within the court’s jurisdiction.

Advertisement

Pending bail fulfillment, the accused were remanded in custody.

The case is adjourned to March 13, 2025, for trial.

Authorities continue to investigate other suspects believed to be at large.

Advertisement

News

Photos: We’re building infrastructure for a knowledge-driven economy – Tinubu

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

President Bola Tinubu has said that his administration was building road infrastructure to lay the needed physical foundation for a knowledge-driven economy, stressing that education, justice, and innovation need roads to thrive.

Tinubu stated this in Abuja on Tuesday, while flagging off the construction of Collector Road CO1 in the Institutional Research District, from Nile University to Ring Road III.

Represented by the National Chairman of the All Progressives Congress, Prof Nentawe Yilwatda, the President said that the project included dualisation of the road from Baze University roundabout to Nile University, that is the Base University.

He noted that three years into his administration, the results were speaking out.

“From the Southern Parkway to the Institution and Research District, we are laying the physical foundation for a knowledge-driven economy.

“Today, we provide those roads that are needed to provide justice, education, and innovation to our people.

“To the university community, this road is more than a route. It is a connection between learning, law, and the future of our capital,” he said.

He pointed out that the Institution and Research District was designed to be the intellectual heart of Abuja, adding that universities, law chambers, research centers, and innovation hubs were growing in the area.

Advertisement

He, however, stressed that ideas could not move if roads do not move and connect the heart and people together.

Tinubu further said: “Under the Renewed Hope Agenda, we made a choice to finish what was started and to start what we must finish.

“The first phase of this corridor connecting the Body of Benchers, Nile, and Base University is done and ready for commissioning. Today, we begin the next phase to Ring Road III to complete the loop.

“That is how we build a city—with a plan. Not a city of abandoned pieces. Infrastructure must be continuous, and it must also be useful to the people within the environment”.

He commended FCT Minister Nyesom Wike for turning FCT into a delivery agency, stressing that the transformation of Abuja under the minister’s watch is bold, visible and worthy of commendation.

He said, “Wike, your energy is unmatched. You took over a capital with many stalled projects and turned the FCTA into a delivery agency. ‘Mr. Projects’ is not a slogan, it is a record. You have revived sleeping roads, built new interchanges, and brought development to satellite towns. You have domesticated the Renewed Hope Agenda; street by street, district by district. The transformation of Abuja under your watch is bold, visible, and worthy of commendation. Well done, Minister Wike.”

Advertisement

In his remarks, Wike explained that the project was considered following a plea by the Body of Benchers to provide access roads to ease the movement of people in and out of the area.

He assured FCT residents that the Tinubu administration would fulfill all the promises made to the people of FCT, adding that the project would be completed by January 2027.

The minister said that he would continue to deliver life-impacting projects to FCT residents as directed by Tinubu, stressing that the delivery would not be affected by 2027 political activities.

Earlier, acting Executive Secretary, Federal Capital Development Authority, Mr Richard Dauda, said that the Institutional Research District of the FCT is located in Phase III of the city.

Advertisement

Dauda said that the area was planned to accommodate educational institutions like universities, research institutions, and other government institutions as provided in the Abuja master plan.

He added that the district was being developed in stages, with this project being a major intervention in the opening of this district.

He explained that the scope of the current stage involved the construction of Collector Road CO1, from the Nile University to Ring Road III with a total length of about six kilometres.

He added that the project also included the dualisation of the section from the Base University Junction to Nile University.

Advertisement
Continue Reading

News

Just in: Kidnapped APC Chairman, Another Victim Die in Abductors hideout

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Tragedy struck in northern Nigeria following reports that two abducted victims, including a former chairman of the All Progressives Congress (APC) in Koko/Besse Local Government Area of Kebbi State, have died while in captivity.

The deceased, Alhaji Muhammadu Mai Barga Besse, who previously served as APC chairman in the local government area, was reportedly held hostage by armed kidnappers for an extended period before his death. Another victim who was abducted alongside him was also confirmed dead, although his identity had not been officially disclosed at the time of filing this report.

The sad development comes months after disturbing videos emerged online showing the victims in dire conditions while being held captive in the notorious Birnin Gwari forest.

The footage sparked widespread concern among family members, political associates and members of the public who called for urgent intervention to secure their release.

Advertisement

Despite efforts made during their captivity, both men were reportedly never reunited with their families before their deaths.

The incident has once again drawn attention to the persistent security challenges facing communities across northern Nigeria.

The Birnin Gwari axis, located along the Kaduna-Niger corridor, has become one of the country’s most dangerous regions, with criminal gangs and armed bandits frequently carrying out kidnappings, attacks on villages and other violent crimes.

Residents and stakeholders have repeatedly called on security agencies to intensify operations in the area and dismantle criminal hideouts within the vast forest, which has long served as a sanctuary for armed groups.

Advertisement

News of the deaths has generated an outpouring of grief on social media, with many Nigerians expressing sadness over the fate of the victims and urging authorities to strengthen efforts against kidnapping and banditry.

Popular social media personality Denglishalhajii also shared the development on Instagram, mourning the victims and drawing attention to the growing insecurity affecting many parts of the region.

The deaths of the former APC chairman and his fellow captive have further underscored the human cost of the country’s security crisis, leaving families, friends and political associates in mourning while raising renewed concerns about the safety of citizens in vulnerable communities.

Advertisement
Continue Reading

News

Tinubu Seeks Constitutional Backing For State Police, Writes Senate

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

President Bola Tinubu has asked the senate to approve a constitutional amendment bill seeking to establish state police across Nigeria as part of efforts to strengthen the country’s security architecture.

The request was contained in a letter dated June 15, 2026, and read on the floor of the senate on Tuesday by Godswill Akpabio.

In the correspondence, Tinubu said the proposed Constitution of the Federal Republic of Nigeria (Alteration) State Police Bill, 2026, seeks to amend the 1999 constitution to provide a legal framework for the creation of state police services.

The president said the bill is designed to address Nigeria’s evolving security challenges by introducing a dual policing structure that would allow both federal and state policing systems to operate within a constitutional framework.

Advertisement

According to him, the proposal builds on previous legislative efforts by both chambers of the national assembly and contains additional safeguards to ensure effective implementation.

“This bill builds on the significant work already done in this regard by the House of Representatives and the Senate, and incorporates additional safeguards to ensure that the creation of a dual policing structure to address our nation’s evolving national security challenges, will be achieved quickly and effectively to the benefit of all Nigerians,” Tinubu said.

The president described the proposed legislation as a key component of his administration’s broader plan to reform Nigeria’s security system and improve the protection of lives and property.

“The proposed legislation is a critical component of our administration’s strategy to reorganize Nigeria’s security architecture to better protect our citizens, and I’m confident that the Senate will act quickly to consider and pass this bill,” he added.

Advertisement

Read Also: Amnesty International Demands Immediate Release of Omoyele Sowore, Condemns Detention

Tinubu urged lawmakers to give the proposal expeditious consideration.

Following the reading of the letter, Akpabio referred the bill to the senate committee on constitution review for further legislative action.

The committee was directed to report back to the chamber on the next legislative day.

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News