Scores of Nigerians have suffered financial losses amounting to N1.1 billion following a cyberattack on the Moniepoint payment platform, allegedly orchestrated by a hacker, Sunday Ozimede.
The Lagos Police Special Fraud Unit (PSFU) prosecutor, Justin Enang, disclosed this during Mr. Ozimede’s arraignment before the Federal High Court in Lagos on Friday.
According to Mr. Enang, the defendant is accused of breaching Moniepoint’s data system via a dark web operation.
He allegedly planted a bug in the platform’s system, resulting in a direct loss of N145 million to the microfinance bank, with an additional N945.7 million reportedly siphoned through fraudulent means.
The prosecution alleged that Mr. Ozimede violated provisions of the Cyber Crimes (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024, specifically sections 27 (i)(b) and 14, as well as section 18(2) (b) and (d) of the Money Laundering (Prevention and Prohibition) Act, 2022. These offences are punishable under section 18(3) of the same Act.
Despite the gravity of the charges, Mr. Ozimede denied the allegations, pleading not guilty during the court proceedings.
Justice Ambrose Lewis-Allagoa, presiding over the case, granted Mr. Ozimede bail in the sum of N50 million, with the condition of providing one surety who must own a landed property.
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