One of the newly established banks, Lotus Bank, has been attacked by alleged hackers, who removed several millions from its vault.
The bank was allegedly attacked sometimes in September 2024.
Meanwhile, three of the alleged hackers have been arrested and arraigned before a Federal High Court, Lagos, by the operatives of the Police Special Fraud Unit (PSFU) Ikoyi Lagos.
The alleged hackers arrested and arraigned in connection with the crimes are; Mohammed Abubakar, Isiyaka Hussein and Musa Mohammed.
The trip were arraigned before Justice Friday Ogazi on charges conspiracy and cybercrime related offences.
The three defendants were accused to have on September 17, 2024, compromised and hacked into bank’s core banking application, and created and opening several accounts which they transferred the funds to.
They were alleged to have fraudulently removed a total sum of N60, 479, 480 million, and transferred same to different accounts belonging to them and their cohorts.
The defendants’ alleged illegal acts according to the police, contravened sections 27(b), 14(4), 16(1) of Cybercrimes (Prohibition, prevention Etc) Act, (As amended) 2024 and punishable under Section 27(2) of the same Act.
And sections 18 (2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act 2022.
Their act also contravened section 383(2)(a) of Criminal Code Act CAP. C38 and punishable under Section 390(9) of the same Act.
The three defendants have denied the allegations and pleaded not guilty to the charges.
Based on their not guilty plea, Justice Ogazi, has ordered that they should be remanded in the custody of the Nigerian Correctional Services NCoS pending October 10, 2025, when their bail application will be determined.
Parts of the charges against the defendants read: “that you Mohammed Abubakar ‘M”, Isiyaka Hussein ‘M’, Musa Mohammed ‘M’ and others at large on or about 17th day of September, 2024 in Lagos within the Jurisdiction of this Honorable Court did Conspire amongst yourselves to commit an offence to wit Computer Related Fraud and thereby committed an offence contrary to Section 27(b) of Cybercrimes (Prohibition, prevention Etc) Act, (As amended) 2024 and punishable under Section 27(2) of the same Act.
“That you Mohammed Abubakar ‘M’, Isiyaka Hussein ‘M’, Musa Mohammed ‘M’ and others now at large on or about 17th September, 2024 in Lagos within the jurisdiction of this Honourable Court knowingly and without lawful authority fraudulently compromised and hacked into Lotus Bank Ltd Core Banking Application and created an opening wherein your cohorts transferred funds from their individuals accounts to another to the tune of N35, 479, 480. 00 and their accounts were not debited whereas beneficiaries received value for the transactions thereby committed an offence contrary to Section 14(4) of Cybercrimes (Prohibition, Prevention, Etc) Act, 2015 (as Amended) 2024 and punishable under the Section 14(6) of the same Act.
“That you Mohammed Abubakar ‘M’, Isiyaka Hussein ‘M’, Musa Mohammed ‘M’ and others now at large on or about 17th September, 2024 in Lagos within the Jurisdiction of this Honorable, Court did Fraudulently compromised Lotus Bank Core Banking Application and convert the total sum of N25,000,000.00 which was transferred from Lotus Bank Ltd to Lotus Bank Account number 1003083007 with account name Mohammed Khalid Abubakar, Lotus Bank Account number 1001212357 with account name Aishat Talatu Jibrin and other private accounts when you reasonably ought to have know that the said funds form part of the proceed of an unlawful act and thereby committed an offence contrary to Section 18 (2)(b) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act 2022.”
