EFCC Arraigns NNPP Assembly Candidate, Others For N1.5bn Fraud  

Economic and Financial Crimes Commission (EFCC) has arraigned the Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP) Ismaila Atumeyi and two others before the Federal High Court in Lagos for hacking the database and stealing N1.4 billion from an old generation bank.

Atumeyi and his alleged fraud syndicate members, Ngene Dominic and Abdulmalik Salua were arraigned before Justice Tijani Ringim on an 18-count charge of conspiracy, cybercrime, money laundering, fraud and concealment of proceeds of fraud.

The EFCC counsel, Rotimi Oyedepo (SAN) had told the court that the defendants were arrested with N326 million and $610,500 cash part of the money they allegedly stole from the bank and its customers.

Oyedepo also claimed that the third defendant, Abdulmalik Salau, an employee of the bank, supplied insider information that facilitated the cyber-attack on the bank by the syndicate.

The lawyer also told the court that the anti-graft agency recovered $470,000 from Femi, who he alleged without lawful authority directly caused modification of data held in the network of the bank, leading to the fraudulent transfer of the total sum of N1,403,343,400 to the account of Fav Oil AND Gas Limited and you thereby committed an offence contrary to and punishable under section 16(1) of Cybercrimes (Prohibition, Prevention, etc) Act, 2015.

He further alleged that the defendants moved N887 million into the account of a firm, Fav Oil and Gas Limited, from where the fund was disbursed to several Bureau de Change operators and some auto dealers for exchange into United States dollars and purchase of high-end cars.

All the defendants, however, pleaded not guilty to the charge.

Justice Ringim remanded them in the custody of the Nigerian Correctional Services pending the determination of their bail applications.