IKEJA – Sunday Ozimede, a 43-year-old man, was arraigned in the Federal High Court, Lagos, on Monday by the police.
He was accused of hacking the Moniepoint Microfinance Bank’s vault and stealing N1,190,728,076 from the bank.
The Police Special Fraud Unit (PSFU)’s prosecution counsel, Justine Enang, informed the court that Ozimede hacked Moniepoint and obtained the sum of N945,728,076 by false pretence.
Enang added that the 43-year-old diverted the money from the accounts of various Moniepoint customers and deposited it into other banks.
According to Enang, Ozimede’s offences contravened Sections 27(i)(b) and 14 of the Cyber Crimes (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024, and Section 14(1) of the same Act, and 18(2)(b) & (d), and are punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Ozimede pleaded not guilty to the charges, and his legal counsel, Abdulmalik Ibrahim, pleaded with the judge to admit him to bail.
Enang, however, opposed the bail application, noting that Ozimede was a flight risk and might not show up for subsequent trials if granted bail.
The presiding judge, Justice Ambrose Lewis-Allagoa, admitted Ozimede to bail in the sum of N50 million, with one surety in like sum.
The case was adjourned to March 13, 2025, for trial.
