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

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.
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.
“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.
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.
News
Akpabio drags Natasha to court over satirical apology

Senate President Godswill Akpabio has petitioned the Federal High Court in Abuja to compel suspended Kogi Central Senator Natasha Akpoti-Uduaghan to delete a satirical apology she posted on her social media pages.
On 27 April, Akpoti-Uduaghan shared a short video in which she mockingly apologised to Akpabio, claiming it was for not allowing him to have his way with her.
Akpoti-Uduaghan stated she was ‘sorry for the crime of maintaining dignity and self-respect’ and for rejecting the advances of the Senate President, whom she implied believed no one could refuse him.
The dispute between the two senators stems from an altercation in the Senate chamber over seating arrangements.
This led to Akpoti-Uduaghan initiating a suit that sought to stop the Senate from investigating her for alleged misconduct.
In particular, the senator asked the court to prevent the Senate Committee on Ethics, Privileges and Public Petitions, chaired by Senator Neda Imasuen, from taking any disciplinary action against her.
Akpoti-Uduaghan was later suspended following her accusations against the Senate President, accusing him of sexual harassment.
The presiding judge, Justice Binta Nyako, on 4 April 2025, restrained all parties involved in the suit from making public comments about the ongoing case.
Meanwhile, Akpabio’s legal team, led by Kehinde Ogunwumiju, has filed a fresh application asking the court to direct Akpoti-Uduaghan to delete the video, arguing it violated a judge’s directive.
In his application, Akpabio’s lawyer also requested the court to order Akpoti-Uduaghan to remove the post from all her social media accounts.
Additionally, Ogunwumiju urged the court to mandate Akpoti-Uduaghan to publish a written apology in at least two national newspapers and file an affidavit confirming her compliance.
News
Real reason APGA snubbed Obi, adopts Tinubu

Governor Charles Soludo of Anambra on Thursday announced that the All Progressives Grand Alliance, APGA, has officially adopted President Bola Tinubu as its candidate for the 2027 presidential election.
Mr Soludo made the announcement at Alex Ekwueme Square in Awka during the President’s working visit to the state.
According Mr Soludo, APGA and the All Progressives Congress, APC, will work together, as both parties share a common belief in progressivism.
Mr Soludo said: “Progressives are working together.”
Earlier, the President described Mr Soludo as a competent governor.
While inaugurating several major projects executed by the Soludo administration, the President described Mr Soludo as a friend and a visionary leader.
He said: “I am honoured to be here. I commend my friend, Governor Chukwuma Soludo, who is a visionary and competent leader for the work he has been doing in Anambra State.”
The projects set to be commissioned by the President include Emeka Anyaoku Center at Nnamdi Azikiwe University, the new Government House, the Solution Fun City, and the 8-lane Aroma–Government House Boulevard in Awka.
News
Senate endorses Tinubu’s full tax reform package

On Thursday, the Senate passed the final two tax reform bills submitted by President Bola Tinubu’s administration, completing the approval of all four proposed laws.
This comes a day after the Senate had already passed two of the bills, with the remaining pair receiving the green light today.
The legislation will now undergo harmonization by a joint committee of the Senate and House of Representatives before being presented to President Tinubu for assent.
The four executive bills include the Joint Revenue Board Establishment Bill, the Nigeria Revenue Service Establishment Bill, the Nigeria Tax Administration Bill, and the Nigeria Tax Bill—all aimed at overhauling and modernizing Nigeria’s tax system.
Senate President Godswill Akpabio, in an earlier statement, praised the move, calling it “a step in the right direction” that would significantly improve governance and transform the country’s revenue collection processes.
In another major development, Nigeria has cleared all outstanding debts to the International Monetary Fund (IMF), officially exiting the list of debtor nations.
As of 2023, Nigeria owed the IMF $1.61 billion. However, under a repayment strategy initiated by President Tinubu’s administration, the debt was reduced to $472 million by January 2025 and has now been fully repaid as of May 2025.
This milestone was confirmed in the latest update on the IMF’s website, and reiterated by O’tega Ogra, Senior Special Assistant to the President on Digital Engagement and Strategy, via a post on his account.
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