DSS Arraigns Man For Allegedly Hacking MTN’s MoMo Bank, Stealing N340m

The Department of State Services (DSS) has arraigned a 32-year-old man, Philip Ogunwobi, before the Federal High Court in Lagos for allegedly hacking the vault of MoMo Payment Service Bank Limited, a subsidiary of MTN Nigeria Communications Plc and diverting about N340 million.

Ogunwobi was docked before Justice Ambrose Lewis-Allagoa on a five-count charge of unlawful access to the bank’s financial infrastructure, conspiracy, cybercrime and money laundering by the DSS.

The secret service claimed the defendant committed the offences between May and August 2026 by allegedly compromising the bank’s systems.

Read Also: Security Operatives Arrest Yobe Village Head Over Alleged Banditry

The prosecution told the judge that the alleged cyberattacks involved unauthorised access to the bank’s digital infrastructure, diversion of funds into unauthorised wallets and accounts, and the subsequent handling of money allegedly linked to the activity.

The DSS accused Ogunwobi of allegedly conspiring with Abhicheck Modane, an Indian national who is currently at large, to access the payment bank’s systems and divert funds unlawfully.

The prosecutor, Michael Bajela, further told the court that the defendant allegedly disrupted the financial institution’s operations and diverted approximately N340 million of its funds.

Bajela also alleged that the defendant concealed and transferred various sums linked to the alleged attack, and collected and retained funds despite knowing, or having reason to know, that they were proceeds of cybercrime.

He also maintained that the offences contravene the provisions of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, and the Money Laundering (Prevention and Prohibition) Act, 2022.

The defendant, however, pleaded not guilty to all five counts.

After his plea was taken, the Bajela urged the court to set a trial date and remand the defendant in custody pending the conclusion of the trial.

But the Defence counsel told the court that a bail application had been filed and served on the prosecution.

Bajela confirmed receiving the application but urged the court to impose stringent conditions to ensure the defendant attends court throughout the trial.

In a ruling, Justice Lewis-Allagoa granted Ayodeji bail in the sum of N500 million, with one surety who must own landed property valued at no less than N500 million.

The judge directed that the surety must reside within the court’s jurisdiction and ordered the defendant to deposit his international passport with the court’s Deputy Chief Registrar.

The judge also ordered that the defendant be remanded in the custody of the Nigerian Correctional Service until he fulfils the bail conditions.

The court adjourned the case until November 27 for trial.