The Federal High Court in Lagos has ordered the remand of a suspected cybercriminal, Ugochukwu Eze, also known as “Amazon,” over the alleged hacking of Suntrust Bank’s computer system and diversion of more than N800 million between 2023 and 2026.
Eze was arraigned on Thursday before Justice Friday Ogazi by the Department of State Services (DSS) on a multi-count charge bordering on cybercrime, money laundering, and unauthorised interference with a financial institution’s computer system.
—Alleged N800m Bank Fraud—
According to the DSS, Eze and other suspects currently at large conspired to unlawfully access Suntrust Bank’s core banking infrastructure and divert funds belonging to the bank into various accounts.
The prosecution, led by M. Bajela, alleged that the defendant also concealed and transferred proceeds from the cyberattack and unlawfully accessed critical national financial information infrastructure.
One of the charges specifically stated that Eze “between 2023 and 2026 in Lagos and other locations within the court’s jurisdiction, unlawfully interfered with the computer system of Suntrust Bank and, in the process, fraudulently diverted more than N800m belonging to the bank.”
The alleged offences violate provisions of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024 and the Money Laundering (Prevention and Prohibition) Act, 2022*.
Eze pleaded not guilty to all the charges.
—Bail Application Adjourned to Aug 24—
Following his plea, DSS counsel urged the court to remand the defendant and set a date for trial, stating that the prosecution was ready to call witnesses.
However, defense counsel E. Afrogha informed the court that a bail application had already been filed and noted that his client had spent more than one month in DSS custody.
The prosecution opposed immediate hearing of the bail application, saying it had not been served.
After listening to both sides, Justice Ogazi adjourned the case to August 24, 2026 for hearing of the bail application.
The judge ordered that Eze be remanded in the custody of the Nigerian Correctional Service pending the determination of his bail request.
—Implications for Nigeria’s Banking Sector—
The case comes amid growing concerns over cyberattacks targeting Nigerian financial institutions. Banking sector analysts say the alleged breach underscores the need for stronger cybersecurity controls, real-time transaction monitoring, and inter-agency collaboration to combat financial cybercrime.
Suntrust Bank has not issued a public statement on the extent of the breach or measures taken to recover the funds as of press time.
The matter was adjourned to allow the court to determine whether the defendant should be granted bail ahead of trial. [National Waves story rewritten]
