The Police Special Fraud Unit (PSFU) has arraigned Sunday Ozimede, an alleged hacker, before the Federal High Court in Lagos for allegedly breaching the vault of Moniepoint Microfinance Bank and stealing N1,190,728,076 billion.
The police docked Ozimede before Justice Ambrose Lewis-Allagoa over allegations of conspiracy and obtaining the amount mentioned above by false pretences.
The police prosecutor, Justine Enang, accused the 43-year-old defendant of planting a bug in Moniepoint Microfinance Bank’s data system, causing financial losses.
Enang also informed the court that Ozimede and others still at large allegedly committed these offences in May 2024.
He further claimed that the defendant fraudulently diverted funds deposited by various Moniepoint Microfinance Bank customers through multiple transactions with other banks.
The prosecutor maintained that the offences violate and are punishable under Sections 27 (i)(b) and 14 of the Cyber Crimes (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024, along with Section 14 (1) of the same Act.
The defendants, however, pleaded not guilty to the charge.
Based on his plea, Enang urged the court to remand the defendant in the custody of the Nigerian Correctional Services (NCoS) until the conclusion of the trial and applied for a trial date.
However, the defence lawyer, Abdulmalik Ibrahim, filed a motion for bail, urging the court to release his client on the most liberal terms.
The prosecutor strongly opposed the application, arguing that the defendant is a ‘flight risk’ and may not attend his trial if granted bail.
Justice Lewis-Allagoa, in a short ruling, granted bail to the defendant in the amount of N50 million with one surety in like sum.
The judge also ordered that the surety own landed property within the court’s jurisdiction and that the bail terms must be verified by the court’s registrar and the prosecutor.
He then adjourned the case to March 13 for further proceedings.
