A 43-year-old man, Sunday Ozimede, has been arraigned before the Federal High Court in Lagos State for allegedly hacking into Moniepoint Microfinance Bank’s vault and stealing N1.1 billion.
Ozimede is facing three counts of conspiracy, hacking, and obtaining by false pretence, preferred against him by the Police Special Fraud Unit.
According to the prosecution counsel, Justine Enang, Ozimede allegedly hacked into the bank’s system and stole N945,728,076 by false pretence.
He also caused a financial loss of N145 million to the bank by planting a bug in their data system.
Ozimede and others at large allegedly conspired to commit the offences in May 2024.
The prosecutor told the court that Ozimede fraudulently diverted the above-mentioned money from various Moniepont Microfinance Bank’s customers’ deposited funds through numerous transactions to other banks.
According to the prosecutor, the offences committed contravened Sections 27 (i)(b),14 of the Cyber Crimes (Prohibition, Prevention etc) Act, 2015 as Amended in 2024, and Section 14 (1) of the same Act, and 18(2) (b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The defendant pleaded not guilty to the charges, and his lawyer, Abdulmalik Ibrahim, applied for bail.
However, the prosecutor opposed the bail application, citing Ozimede as a flight risk.
Presiding judge, Justice Ambrose Lewis-Allagoa, granted the defendant bail in the sum of N50 million with one surety in like sum.
The case was adjourned to March 13, 2025, for trial.
(Punch)
