SunTrust Bank Plc is seeking to recover more than ₦800 million allegedly lost during a series of cyberattacks on its server between 2023 and 2026.
The development came to light after the Department of State Services (DSS) arraigned a 47 year old man, Ugochukwu Eze, also known as Amazon, before a Federal High Court in Lagos over alleged cybercrime and financial offences.
Eze was accused of conspiring with others who are currently at large to unlawfully interfere with SunTrust Bank’s computer system and divert more than ₦800 million belonging to the financial institution into various accounts.
According to the DSS prosecutor, M. Bajela, the defendant allegedly participated in cyberattacks targeting financial institutions and was also accused of concealing and transferring funds linked to the alleged offences.
The prosecution further alleged that Eze gained unauthorised access to critical national financial infrastructure.
The charges were brought under provisions of the Cybercrimes Act 2024 and the Money Laundering Prevention and Prohibition Act 2022.
Eze pleaded not guilty to the allegations.
Following his plea, the prosecution requested a trial date and asked the court to remand the defendant pending the determination of the case. His lawyer, E. Afrogha, however, informed the court that a bail application had already been filed and noted that her client had spent more than a month in DSS custody.
The prosecutor told the court that he had not been served with the bail application but confirmed that his witnesses were available.
Justice Friday Ogazi subsequently adjourned the matter until August 24 for the hearing of the bail application and ordered that Eze be remanded in the custody of the Nigerian Correctional Service pending the hearing.
One of the charges alleges that Eze unlawfully interfered with SunTrust Bank’s computer system and, in the process, fraudulently diverted more than ₦800 million belonging to the bank.
The allegations are yet to be proven in court, and the defendant remains presumed innocent until proven guilty.
