By Anastasia John E.
In a shocking cyber heist, Sunday Ozimede has been accused of infiltrating the systems of Moniepoint Microfinance Bank, resulting in the theft of a staggering N1,190,728,076 billion.
The Police Special Fraud Unit (PSFU) has charged Ozimede in a Federal High Court in Lagos with conspiracy and fraud, specifically for allegedly obtaining N945,728,076 million through deceptive means. The 43-year-old is also accused of inflicting a financial loss of N145 million on the bank by introducing malicious software into its data systems.
During the court proceedings, prosecutor Barrister Justine Enang revealed that Ozimede, along with accomplices still at large, executed the fraudulent activities in May 2024. He allegedly diverted funds belonging to various Moniepoint customers to different banks through a series of illicit transactions.
The charges against Ozimede are serious, falling under multiple sections of the Cyber Crimes (Prohibition, Prevention, etc.) Act of 2015, as amended in 2024, as well as the Money Laundering (Prevention and Prohibition) Act of 2022.
Ozimede has pleaded not guilty to all allegations. In light of his plea, the prosecutor requested that he be remanded in the custody of the Nigerian Correctional Services until the trial concludes. The prosecutor also expressed concerns that Ozimede may attempt to flee if released on bail.
However, the defendant’s attorney, Abdulmalik Ibrahim, sought bail on liberal terms. After considering both sides, Justice Ambrose Lewis-Allagoa granted bail set at N50 million, requiring a surety of equal value who must own property within the court’s jurisdiction. The bail conditions will be verified by the court’s Registrar and the prosecutor.
The case is set to resume on March 13, 2024.
The formal charges against Ozimede detail his alleged conspiracy and fraudulent activities, including the unauthorized transfer of funds from Moniepoint Microfinance Bank and the manipulation of customer deposits for personal gain.
