MICHAEL AKINOLA
A leading digital payment company, Interswitch Nigeria Limited, has suffered a huge loss after hackers manipulated their Payment Gateway Merchants interchange system switch and siphoned N622m within minutes without trace.
However, the Police intelligence operatives from Special Fraud Unit, Ikoyi, Lagos State, later uncovered the two hackers behind the act, Daniel Kelechi Ikeoha and Sylvester Ebeta and detained them for hacking into the company’s system and fraudulently transferring customers money to the tune of the amount in question.
P.M.EXPRESS reports that the revelations came to bear following the arrest and arraignment of the key suspects, Ikeoha and Ebeta, before the Federal High Court in Ikoyi, Lagos, for allegedly causing multiple fraudulent transfers and withdrawals of N622 million from various bank accounts of other customers to their own accounts.
The two men have been remanded in the Ikoyi facility of the Nigerian Correctional Services (NCoS) having been arraigned for the alleged offence under the Criminal Laws of the State.
The Presiding Judge, Justice Yellim Bogoro, ordered both Daniel and Sylvester remanded after they pleaded not guilty to the charges of alleged conspiracy, hacking into the Interswitch’s server and unlawful conversion/taking possession of proceeds of an unlawful acts.
The offences which contravened Sections 27(1)(b) and 14(1)of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as Amended in 2024, read along with Section 14(1) of the same Act.
The offence also contravened Section 18(2)(b)(d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The Prosecutor, Barrister Justine Enang, a Chief Superintendent of Police at the Legal Department of PSFU, Ikoyi, Lagos, alleged that the defendants and others at large have between January 2022 and October 12, 2023, conspired among themselves to commit illegal acts.
Barrister Enang told the Court that the two defendants and others at large, unlawfully suppressed the Interswitch Payment Gateway Merchants to interchange the system switch and caused multiple fraudulent transfers and withdrawals of N622 million, from various bank accounts of other customers to their own accounts.
The prosecutor told the court that the defendants wired the N622 million to their under-listed banks and accounts: Kuda Microfinance Bank, account no. 2012900334; UBA Plc, account no. 2259918436; Zenith Bank Plc, account no, 225135546; Eco Bank Nigeria Limited, account no. 4360057510 and 4360057503; GTB Plc account nos. 0025473624, 0560512839; FCMB, account nos. 7358218027, 7358218010; Moniepoint Microfinance Bank, account no. 5397559320; GTB Plc, account no. 0167915358; Stalonvee Concept, Stalonvee Concept, account no. 6397559320, 5397602542 and Zenith Bank Plc, account no. 240753383.
Their lawyer, N. S. Hart, informed the court that she had two applications before the Court for the Court to determine. She told the court that the first application is challenging the court’s jurisdiction in entertaining the charges against her client, because her clients have been charged before a magistrate court. Hence, the charges against them before the Court was an abuse of court process.
She also told the Court that the second application is the bail application of her clients.
In response, the prosecutor told the Court that the charge before the Magistrate Court has been withdrawn.
On the application for bail, the prosecutor told the court that he has responded to same, by filing a counter-affidavit.
Based on the submissions of the parties, Justice Bogoro ordered parties to move the bail application. And upon taking arguments on the bail application, Justice Bogoro adjourned ruling till 14th November, 2024, while ordering that the two defendants be remanded in the custody of the Nigerian Correctional Services (NCoS) pending when the bail application will be determined.