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

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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.

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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.

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“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.

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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.

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BREAKING: Ex-Kano gov, Ibrahim Shekarau goes back to APC

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Ex- Kano State Governor, Ibrahim Shekarau, has defected from the opposition Peoples Democratic Party and rejoined the ruling All Progressives Congress (APC).

Shekarau announced his defection on Sunday at his residence on Mundubawa Avenue in Kano, which was decorated with APC posters.

As reported by Daily Trust, he left the party alongside Senator Bello Hayatu Gwarzo, a chieftain of the PDP.

Addressing party loyalists, Shekarau said the decision followed wide consultations and careful consideration of available political options.

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“We have weighed all the options and arrived at this collective resolution. Do you all agree?” he asked, urging anyone opposed to the move to speak up.

The move comes hours after he submitted his resignation letter from the PDP.

In the letter dated April 19, 2026, and addressed to the PDP Chairman of Giginyu Ward in Nassarawa Local Government Area of Kano State, Shekarau said his exit took immediate effect.

“Accept this letter please as notice of my resignation from my position as member of the Peoples Democratic Party (PDP) with effect from today,” he wrote.

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He expressed appreciation to party leadership at the ward level.
“I thank you for being a good leader, and pray that Allah will continue to guide you in your stewardship,” he added.

The letter was also copied to the Kano State PDP Chairman and the PDP Chairman of Nassarawa Local Government Area, indicating formal notification across party structures.

Shekarau’s move follows months of speculation fuelled by the PDP’s internal crisis.

In April, during a visit by APC National Chairman, Professor Nentawe Yilwatda, Shekarau hinted at his impending exit from the PDP, describing the opposition party as afflicted by problems that had rendered it ineffective.

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He also held closed-door meetings with President Bola Ahmed Tinubu and Kano State Governor, Abba Yusuf.

Shekarau, who governed Kano State from 2003 to 2011 under the All Nigeria Peoples Party, has a history of party switches.

He was a founding member of the APC but later defected.

He left the PDP in 2018 and returned to the APC before he later crossed carpet.

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Hardship Not a Licence for Broken Homes – Abejide Tells Couples

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By Gloria Ikibah

A member of the House of Representatives, Rep. Leke Abejide, has cautioned Nigerians against allowing economic strain to fracture their marriages, urging couples to remain grounded in shared values despite mounting pressures.

Speaking in Abuja during a thanksgiving service marking his wife’s 50th birthday alongside their 20th wedding anniversary, the Kogi lawmaker stressed that difficult times should not erode family stability.

He emphasised that enduring relationships are sustained through love, patience and mutual respect, noting that strong homes are built on understanding and a shared commitment to faith.

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Abejide underscored the importance of staying united through hardship, warning that financial challenges, though real, should not outweigh the deeper foundations that hold families together.

“You sustain marriage with love as it is written in the book of Ephesians Chapter 5 — husbands should love their wives and wives should submit to their husbands. This principle has been working for us,” he said.

Abejide observed that despite widespread complaints about economic challenges, many Nigerians continue to make significant investments.

He said: “My message to Nigerians is: don’t allow hunger and hardship to take away your marriage. Let God be your foundation. When you have God, things will fall into place.

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“You see people building houses, they say there is no money. You see estates springing up, people buying vehicles and travelling abroad. So we must not allow temporary hardship to destroy our homes,” he said.

In her remark, Deaconess Esther Abejide credited the strength of her two-decade marriage to a foundation built on patience, mutual understanding and genuine affection.

Reflecting on the journey, she highlighted the central role of faith and sacrifice in sustaining a lasting union.

“The secret is love and understanding. Couples must understand each other, know what their partner likes and dislikes. With that, the marriage will last.

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“With God in the marriage, through prayer and even fasting, it will stand,” she said.

Speaking on balancing life as the spouse of a public office holder with her religious commitments, she described the experience as smooth and fulfilling, noting that her natural disposition has made the transition easier.

“It is easy for me because I love people and I am always happy to be around them, so it has not been difficult to cope,” she said.

Also at the event, Senator Sunday Karimi shared a hopeful outlook on the country’s economic trajectory, urging Nigerians to remain patient as reforms under President Bola Tinubu continue to unfold.

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“There is hope. There is a renewed hope. Let me tell you what is happening, we are graduating from an economy that has no direction. When the country starts printing money, it’s a fake country. That was what was happening.

“But Tinubu came and said no. Let’s run a perfect economy. It’s not been easy. But I can promise you, we are moving to the promised land. Our economy is getting better. Don’t mind the borrowing they are talking about. Check the US and their debt. It’s in trillions of dollars but the economy is running well.

“Look at Lagos. Lagos is a shining example of a state that we ought to look up to in Nigeria. That is what Tinubu is doing for us. We need to be patient. Nigeria is getting better. By God’s grace, he is coming back to continue the work he is doing”, he said.

Karimi dismissed opposition coalition efforts, describing the actors as “the same old politicians” with nothing new to offer the country.

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The celebration drew a mix of political allies, relatives and close friends, all turning out to mark the couple’s milestone. The occasion was further highlighted by the presentation of an 18-seater bus to the church as part of the festivities.

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All 13 kidnapped Otukpo passengers, successfully rescued

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All 13 passengers abducted along the Makurdi–Otukpo road in Otukpo Local Government Area of Benue State have been successfully rescued.

The victims were reportedly freed in the early hours of Sunday, following what sources described as a coordinated effort.

Meanwhile, official confirmation and operational details are still being awaited at the time of filing this report.

The abduction had earlier raised concerns among residents and commuters along the busy Makurdi–Otukpo axis, a route that has witnessed sporadic security challenges in recent times.

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Security agencies are yet to issue a formal statement on the circumstances surrounding both the abduction and the subsequent rescue.

It also remains unclear whether any arrests were made or if ransom was involved.

Local sources, however, expressed relief over the safe return of the victims, describing the development as a significant breakthrough amid ongoing security concerns in the area.

The spokesperson of the Benue state Police command, DSP Udeme Edet could not be reached to confirm the story as at the time of filing this report.

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