By SAM POPOOLA, Lagos
The oldest indigenous commercial bank, WEMA Bank, Plc, has lost the total sum of N8.9bn to hackers who, in January, hacked into its vault aided by three staff members and stole the money.
This was revealed by the Economic and Financial Crimes Commission, EFCC, alleging that the hackers conspired among themselves to manipulate and alter Wema bank’s data in January 2025, causing a financial loss to the tune of N8, 568, 090, 500 billion to the bank.
Consequently, seven suspects, including three staff and a lady were arrested and hauled befure the Federal High Court, sitting in Lagos, for arraignment and trial.
They are, Samuel Asiegbu, Fabian Onyeimachi, and Kingsley Kejim (all WEMA Bank staff).
The other four individuals arraigned alongside Wema bank staff include: Hannah Okunlola Adesokan, Hamza Zakariya, Achionu Ubaku, and Sunday Osademe.
TheCaveat.com.ng reports the scheduled trial of the defendants was stalled on Friday, due to the Eid-el-Kabir holiday.
The defendants were earlier docked on May 25, 2025, on an eight-count charge bordering on conspiracy, Cybercrime and obtaining money under false pretences.
The EFCC prosecutor, S. O Larry Peters, had told the court that the hackers allegedly committed the crimes in conniviance with the duo of Nurudeen Ibrahim and Alhaji Sulaiman, who were said to be at Large, in January this year.
He told the court that the duo of Hazma Zakaria and Onyemaechi Fabian, connived with the trio of Alhaji Ibrahim, said to be at large, Achionu Chukwuka Ubuka and Samuel Ibechukwu Asiegbu to perpetrate fraud, by using Computer and network systems.
He further informed the court that the only woman among the alleged hackers, Adesokan Hannah Okunlola, and Sunday Osademe gave their bank accounts domiciled in United Bank for Africa (UBA) Plc and Union Bank Plc, with account numbers and names 1020676282 and 9007457400, Search Light Media Concept and Osademe Sunday, and retained the sum of N199 million and N2. 250 million, in the said account respectively.
He told the court that the offences committed by the alleged hackers are contrary to Sections 27(1}(a); 14(1); 6(2); 14(5); and 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015 and punishable under the same Act.
He also informed the court that the offences contravened 17(a)(b) of the Economic and Financial Crimes Commission (Establishment) Act 2004 and punishable under the some Act.
All the alleged hackers pleaded not guilty to the charges against them.
Following their not guilty plea, the prosecutor, Aso Peters requested a trial date and asked that the defendants be remanded in the Nigerian Correctional Facility.
He added that the defence counsel for Hannah Okunlola, however, pleaded that she be remanded in EFCC custody due to her health condition.
Justice Osiagor adjourned the matter to June 6, 2025, for trial and remanded five of the defendants in the facility of the Nigerian Correctional Services, while Kingsley Ejim Kelechi was to continue on his existing bail. However, Hannah Okunlola was remanded in EFCC custody,” the statement added.
However due to the public holiday for the celebration of the Eid-el-Kabir, declared by the Federal Government of Nigeria, the alleged hackers’ has been stalled.
One of the counts reads, “That you, Samuel Ihechukwu Asiegbu, Ejim Kingsley Kelechi and other persons at large, sometime in January 2025, conspired amongst yourselves to cause loss of property to bank accounts domiciled in Wema Bank Nigeria Plc. in order to confer economic benefit to yourselves, and thereby committed an offence contrary to Section 27(1)(a) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015.”
Another count reads: “That you Samuel Ihechukwu Asiegbu and other persons at large, sometime in January 2025, within the jurisdiction of this honourable court knowingly and without authority caused the loss of an aggregate sum of N8, 568, 090, 500 billion, property of Wema Bank Plc. by altering, erasing and inputting data held in accounts domiciled in Wema Bank Pic. computer for the purpose of conferring economic benefit on yourself and you thereby committed an offence contrary to Section 14(1) of the Cybercrimes (Prohibition Prevention, etc.) Act, 2015 and punishable under the same Act.”
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