A 43-year-old man, Sunday Ozimede, was arraigned on Monday by the Police Special Fraud Unit (PSFU) before the Federal High Court in Lagos for allegedly hacking into the vault of Moniepoint Microfinance Bank and stealing ₦1,190,728,076.
Ozimede faces three charges, including conspiracy, hacking, and obtaining money by false pretenses. According to PSFU's prosecution counsel, Justine Enang, the defendant reportedly gained unauthorized access to the bank’s system, fraudulently obtaining ₦945,728,076.
Enang further stated that Ozimede planted a bug in the bank’s data system, causing an additional financial loss of ₦145 million to the institution.
The alleged crimes, committed in collaboration with unidentified accomplices, reportedly took place in May 2024. Investigations into the case are ongoing, while the court proceedings against Ozimede continue.