EFCC Foils Cyber Heist: Bank Staff, Accomplices Arraigned in Lagos Over Alleged Attempted Database Hack
In a bold move that highlights the growing sophistication of financial crimes in Nigeria, the Economic and Financial Crimes Commission (EFCC) has arraigned five suspects—two of them bank employees—for allegedly plotting a cyberattack on Premium Trust Bank.
The Lagos Zonal Directorate 1 of the EFCC, based in Awolowo, brought the accused before Justice Alexander Owoeye at the Federal High Court sitting in Ikoyi, Lagos, on Tuesday, May 20, 2025.
Among the defendants are Kehinde Odeyemi and Matthew Adeniyi Damilola, both employees of Premium Trust Bank, who stand accused alongside Samson Latshin Dakup, Bolaji Omotosho Yinka, and Sunday Badeniyi Okunola. They face a seven-count charge bordering on conspiracy to steal, under the Cybercrimes (Prohibition, Prevention, Etc) Act, 2015 (as amended 2024).
Sunday Badeniyi Okunola
Cybercrime Inside Job: EFCC Intercepts Attempt to Breach Bank Systems
The EFCC alleges that the group conspired between April and May 2025 to illegally access Premium Trust Bank’s server and domain credentials in order to infiltrate its database and siphon depositors’ funds. The plot, which included an attempt to manipulate server IPs and domain access codes, was disrupted before any financial loss could occur—thanks to swift action by the Commission.
Notably, several individuals linked to the case—including suspects identified as Humble, Wasiu, Isa Ismaila, and Victor Joshua Ilemona aka Oracle—remain at large.
A portion of the charge reads:
“You… conspired unlawfully… to manipulate the access code of Premium Trust Bank Limited… to gain unauthorised access to the entire database… with intent to commit theft…”
Bolaji Omotosho Yinka
All five defendants pleaded not guilty to the charges.
Court Orders Remand, Trial Adjourned to June 30
Prosecution counsel Zeenat B. Atiku requested the court set a trial date and remand the defendants pending further proceedings.
While defense counsel for the accused sought bail—citing limited time to prepare formal applications—Justice Owoeye denied the oral motions, ordering that all bail requests be made formally.
He subsequently ordered:
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Kehinde Odeyemi to be remanded at the Kirikiri Correctional Centre
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Matthew Adeniyi Damilola, Samson Dakup, Bolaji Yinka, and Sunday Okunola to be remanded at the Ikoyi Correctional Centre
The trial was adjourned to June 30, 2025, for commencement.
Kehinde Odeyemi
Cybersecurity and Insider Threats in Nigeria’s Banking Sector
This case underscores the increasing threat of insider-assisted cybercrime in Nigeria’s financial institutions. With bank staff allegedly at the core of this attempted breach, the case highlights the urgent need for robust internal security systems and continuous cybersecurity training for financial employees.
The EFCC’s swift interception of the scheme serves as a reminder of its ongoing efforts to safeguard Nigeria’s banking ecosystem from sophisticated digital threats.
Photo credit: EFCC
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