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Court Orders 54 Banks to Refund N9.3bn Stolen by Hackers
A Federal High Court in Lagos, presided over by Justice Deinde Dipeolu, has instructed 54 financial institutions to immediately return N9,329,322,870, which was fraudulently transferred by hackers from a prominent old generation bank. The ruling, delivered on April 15, 2025, came after an ex parte motion was filed in a legal case with the number FHC/L/CS/629/2025.....KINDLY READ THE FULL STORY HERE▶
The court directed that all accounts receiving the stolen funds be restricted with a Post No Debit instruction, and that the stolen sums be refunded to the bank from which they were illegally transferred. The plaintiff, the victimized bank, reported that on March 23, 2025, it suffered a breach in its core banking system, resulting in unauthorized withdrawals from numerous customer accounts.
The fraudsters distributed the stolen funds across 54 banks. Upon discovering the breach, the affected bank promptly informed the involved financial institutions and began tracking the illicit transfers. Investigations showed that the funds were transferred in phases, moving from primary accounts to secondary and tertiary beneficiaries across different institutions.
Justice Dipeolu further ordered that the banks involved provide detailed information on the implicated accounts, including the balances and any funds that have already been transferred. The court emphasized that all funds connected to the fraud must be returned immediately, with restrictions placed on all accounts until full restitution is made.
The ruling makes clear that the order pertains solely to the erroneous transfer of funds, not to other customer deposits. It further affirmed that the stolen funds belong to the plaintiff bank and not to the customers of the banks receiving the transfers. The court asserted its authority to ensure the complete return of the funds.
The Interim National Chairperson of the Labour Party (LP), Nenadi Usman, has stated that it may no longer be possible for the party’s 2023 presidential candidate, Peter Obi, to return to the party.....KINDLY READ THE FULL STORY HERE▶
Usman made this known on Wednesday during an interview on Arise Television’s Prime Time programme.
She explained that, in line with the Electoral Act, the party would close its membership register 21 days before its primaries, stressing that once that process is concluded, no fresh entries would be allowed.
According to her, Obi played a major role in elevating the party’s profile during the 2023 general elections, noting that his influence and political momentum remain unmatched.
“It will be too late for Peter Obi to come back to the Labour Party because once the register is closed, no one can come in through the back door,” she said.
“Obi actually took the party to greater heights in 2023. There is nobody who can match the momentum he generated. He convinced me and many others to join the Labour Party because we believe in equity and fairness.”
Meanwhile, the factional National Chairman of the Labour Party, Julius Abure, has blamed Obi and the Governor of Abia State, Alex Otti, for the ongoing crisis within the party.
Abure made the allegation during an appearance on Arise Television on Wednesday, claiming that the internal dispute began after Obi and Otti reportedly established a caretaker committee in Umuahia.
Nineteen people have been confirmed dead while several others sustained injuries in two separate road crashes recorded in Edo and Taraba States.....KINDLY READ THE FULL STORY HERE▶
In Edo State, 12 persons lost their lives and 14 others were injured in a fatal crash that occurred over the weekend at Egono community along the Auchi–Ewu–Benin expressway.
The accident happened when a speeding truck conveying passengers and goods attempted a dangerous overtaking manoeuvre, lost control, and overturned.
The spokesperson of the Federal Road Safety Corps (FRSC) in Edo State, Patricia Onwochei, confirmed the incident, attributing it to wrongful overtaking.
She added that one of the victims had been buried, while 11 bodies were deposited at the St. Lazarus Hospital mortuary.
In a separate incident in Taraba State, seven persons, including two children and two women, died in a crash that occurred at about 4:40 pm on Tuesday in the Garbabi area of Gashaka Local Government Area.
The accident involved a commercial vehicle carrying 11 passengers from Bali to Serti, the headquarters of Gashaka LGA.
An official of the Nigeria Association of Road Transport Owners (NARTO), Bali branch, Haruna Lukman, said the vehicle collided head-on with an oncoming trailer while negotiating a sharp bend near Kabarin Baturi village along the Bali–Serti road.
He stated that all occupants died on the spot, adding that officials of NARTO, police officers, and bystanders evacuated the bodies and injured victims to Bali General Hospital.
Lukman further noted that the vehicle, which was meant to carry six passengers, was often overloaded due to rising fuel costs and alleged extortion by security operatives.
The Department of State Services (DSS) on Thursday arraigned former Kaduna State Governor, Nasir El-Rufai, before the Federal High Court in Abuja on a revised five-count charge bordering on alleged unlawful interception of communications and breach of national security.....KINDLY READ THE FULL STORY HERE▶
The former governor, who appeared before Justice Joyce Abdulmalik, pleaded not guilty to all the charges.
During the resumed hearing, DSS counsel, Senior Advocate of Nigeria Oluwole Aladedoye, informed the court that an amended five-count charge was filed on April 13, requesting that it replace the earlier three-count charge.
Defence counsel, Oluwole Iyamu (SAN), confirmed receipt of the amended charge and did not oppose its substitution. Consequently, the court struck out the earlier charge and proceeded to read the amended counts to the defendant, who again maintained his not-guilty plea.
One of the counts alleged that El-Rufai “intentionally and without authorization intercepted the communications of the National Security Adviser, Nuhu Ribadu.”
Another count accused him of deploying technical systems that allegedly compromised public safety and national security while also creating “reasonable apprehension of insecurity among Nigerians.”
The prosecution also requested that the identities of two witnesses be protected, seeking to replace their names with pseudonyms due to security concerns. However, the defence objected, arguing that such a request violates the defendant’s constitutional right to know his accusers.
The defence further opposed the prosecution’s request for consecutive hearing dates, citing concerns that El-Rufai’s access to legal counsel could be hindered due to his custody under the Independent Corrupt Practices and Other Related Offences Commission.
Counsel also informed the court of a pending bail application, noting that a missing affidavit had been located.
Although the defence sought to quash the amended charge and demanded disclosure of proof of evidence for proper preparation, the prosecution urged the court to dismiss the applications, describing them as unmeritorious.
After hearing arguments from both sides, Justice Abdulmalik adjourned the matter to May 18, 19, and 20 for further hearing.
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