SunTrust Bank Plc is reportedly seeking to recover more than ₦800 million allegedly lost to a sophisticated cyberattack after its computer server was compromised over a period spanning 2023 to 2026.
The Department of State Services (DSS) has charged a 47-year-old suspect, Ugochukwu Eze, also known as "Amazon," before the Federal High Court in Lagos over his alleged involvement in the cyber fraud.
Eze was arraigned before Justice Friday Ogazi on charges bordering on cybercrime, unauthorised access to critical financial infrastructure and money laundering.
According to the prosecution, the defendant, alongside other suspects who remain at large, allegedly conspired to infiltrate SunTrust Bank's computer system, disrupt its operations and fraudulently divert more than ₦800 million from the bank into multiple accounts.
The DSS further alleged that the accused concealed and transferred funds believed to have been generated through the illegal cyber operation, while also gaining unauthorised access to critical components of Nigeria's financial information infrastructure.
The prosecution stated that the alleged offences violate Sections 5, 6(1) and 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, as well as Sections 10, 18(2)(d) and 20 of the Money Laundering (Prevention and Prohibition) Act, 2022.
When the charges were read, the defendant pleaded not guilty Following the plea, prosecuting counsel M. Bajela urged the court to fix a date for trial and requested that the defendant remain in custody pending the hearing of the case.
Defence counsel E. Afrogha, however, informed the court that a bail application had already been filed, noting that her client had been held in DSS custody for more than one month.
The prosecutor responded that the application had not yet been served on the prosecution, while indicating that witnesses were available to proceed with the matter.
After hearing both parties, Justice Ogazi adjourned proceedings until August 24 to hear the bail application.
The court also ordered that Eze be remanded in the custody of the Nigerian Correctional Service pending the determination of his bail request.
One of the charges alleges that between 2023 and 2026, the defendant unlawfully interfered with SunTrust Bank's computer system, resulting in the fraudulent diversion of over ₦800 million belonging to the financial institution. Authorities maintain that investigations are ongoing to apprehend other suspects allegedly linked to the cyberattack.
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