General News
Nigerian Hackers Break into Bank System, Steal N6Bn
A group of criminals aided by an insider gained access to a bank’s computers, stealing a jaw-dropping sum. How did they do it?
According to Weekly Trust, Godswill Oyegwa Uyoyou worked in the Information and Communication Technology (ICT) department of a new generation bank but is currently on the run, as the fair-skinned 38-year-old is wanted by the Economic and Financial Crimes Commission (EFCC), in a case of fraud involving N6.28billion.
He allegedly conspired with others and hacked into the bank’s computers, disbursing the funds to various accounts as they pleased.
Oyoyou, who hails from Isoko South Local Government Area of Delta State, is said to have carried out the massive heist over a short period of time.
Mr. Wilson Uwujaren, EFCC spokesman, told Weekly Trust that the operation was carried out not only by Oyoyou, but an entire syndicate.
“They most likely got through to [Uyoyou] because he’s an IT person in the bank, he said, adding that on one Saturday, he took the ‘cyber gang’ to the bank under the pretext that he was going to carry out some maintenance work, allowing them access to hardware, and they commenced to penetrate the bank’s database.
Ujwujaren said they then increased the balances of some accounts. Sources told us that no culprits have been arrested yet and the spokesman said “The matter is still under investigation.”
He added that he couldn’t talk about the specific location where the crime was carried out, because it will jeopardise the investigation.
But banking industry sources said that it is an Abuja branch of a new generation bank.
Uwujaren said the thieves have not withdrawn the entire sum stated. “It was in the process of withdrawing some of the money that they were caught,” he said, adding that some of the criminals are being tracked.
This is not the first time the EFCC – with a mechanism to check similar crimes – has been faced with such an issue. “There was a report from the bank,” Uwujaren said.
“It can happen to any establishment. It’s not a matter of new or old generation bank,” he added.
Weekly Trust probed further, to the last known address of suspect Uyoyou as advertised by the EFCC on newspapers announcing him wanted. At Balogun Akarutu Street, off Tijani Salako, Ile Epo, Ashamu Estate, Ejigbo, Lagos, where Uyoyou claimed to be living, there were two houses labelled as 7a and 7b.
The probe at No. 7a revealed that there was nobody by such a name living in any of the flats on the premises. Similarly, a shop-owner at No. 7b who also resides in the main house alleged that there was nobody known by such a name in any of the flats.
Another resident, a lady in 7a, also alleged that they did not have a banker for a neighbour.
Upon visiting the premises labelled 7a, Weekly Trust discovered that the house in question has about four rooms and parlour, best-described as studio flats and all seemed to be occupied.
It also housed a small uncompleted structure in front of these flats, fenced around with a big red gate.
The heist by Uyoyou and Co. is just the latest in a string of major cyber-theft jobs. Figures released by the Central Bank of Nigeria (CBN) show that the nation’s banking sector has lost over N20 billion through internet fraud in 2013 alone. In September of the same year, undergraduates of a Nigerian federal university infamously defrauded Union Bank Plc to the tune of N2 billion.
On the legislative side of things, in 2011 Hon. Bassey Etim sponsored a Cyber Security Bill to safeguard banks and their clients’ funds.
A 15-member cybercrime committee with representation from both government and private sector, was set up with the task of designing solutions for Nigerian internet-based fraud and cybercrime. Upon their deliberations, a ‘Draft Cybercrime Act to the President’, with the committee forming the Nigerian Cybercrime Working Group (NCWG), in order to accelerate the implementation of its Cybercrime research efforts, and to assist the Nigerian National Assembly in the quick passage of a Cybercrime Bill. So far, this is yet to become law.
A 2011 annual report of the CBN revealed: “There were 2,527 reported cases of attempted fraud or forgery, involving N29.5 billion, as against 5,960 cases involving N19.7 billion and N3.1billion (US$19.2 million) in 2010.” The report said they were tech-driven crimes, or attempts.
The Nigeria Civil Aviation Authority has ordered all international airlines flying into Nigeria to enforce the $10,000 currency declaration rule.
The authority said the rule is required for passengers to declare cash or negotiable instruments above the limit, as part of efforts to strengthen anti-money laundering compliance.
According to the NCAA, the directive, referenced as NCAA/CPD/ABV/298, dated 24 April 2025 seeks to address gaps in the enforcement of existing currency declaration obligations for inbound passengers.
This was announced in a statement issued by the Director of Public Affairs and Consumer Protection, Michael Achimugu, via his official X account on Tuesday.
“International carriers must take two key actions, which include “Make inflight or pre-landing announcements informing passengers of their legal obligation to declare any currency or Bearer Negotiable Instruments exceeding $10,000 USD or its equivalent upon arrival in Nigeria.
“Distribute currency declaration forms onboard for passengers to complete before landing. The NCAA has received reports indicating that some airlines are yet to comply with this directive”, the statement read.
The NCAA said these requirements are consistent with international best practices and are vital to preventing the illegal movement of large sums of money across borders.
The Authority warned that full cooperation from international airlines is essential, saying, “Please note that the cooperation of all international airlines operating in Nigeria is critical to supporting the country’s efforts to align with global financial standards.”
Accordingly, the authority emphasised that full implementation of this directive, particularly as it concerns inbound passenger declarations, is of utmost importance.
“Compliance will be closely monitored, and non-compliant airlines will face appropriate sanctions,” it added.
The court of appeal in Lagos has asked the Corporate Affairs Commission (CAC) to revoke the certificate of registration of “KPMG Professional Services”.
In a unanimous decision delivered on Thursday, the appellant court granted the reliefs sought by KPMG Nigeria against CAC and KPMG Professional Services.
The judgment was read by Abdullahi Mahmud Bayero, the judge.
The two other judges are Abimbola Obaseki-Adejumo and A.M. Talba.
In 2002, KPMG Professional Services was registered as a company with CAC despite the existence of KPMG Nigeria, comprising its audit, tax, and consulting arms.
The KPMG Nigeria has long been registered in Nigeria before 2002.
KPMG Audit was registered in 1969, KPMG Tax Consultants in 1990, and KPMG Consulting in 1969.
Displeased with the registration of KPMG Professional Services, KPMG Nigeria approached the federal high court.
The consulting firm had argued that the name “KPMG Professional Services” was deceptively similar to its long-established identity.
In 2005, the lower court dismissed KPMG Nigeria’s case, citing an alleged merger between KPMG Nigeria and Akintola Williams Deloitte as reason the company could no longer assert rights to the name.
The lower upheld the second respondent’s (KPMG Professional Services) counterclaim and ordered that KPMG Nigeria’s name be struck off the CAC register.
The lower court had premised its decision on newspaper articles stating that KPMG Nigeria reportedly merged with Akintola Williams Deloitte.
Delivering the judgment, Bayero ruled that the lower court erred by relying on newspaper articles to ascertain that KPMG Nigeria allegedly merged with another company.
The judge said the documents showing the alleged merger were not presented before the lower court, and the form of the alleged merger could not have been known.
“In any event, the only branch of KPMG, if any, that entered into a merger with Akintola Williams as stated in the newspaper articles 18, is KPMG Audit,” the judge ruled.
“The other spheres were totally unaffected. It would therefore be wrong to state that the merger (which has not been shown to this Court) of KPMG Audit with Akintola Williams means all the other areas of business, including KPMG Consulting and KPMG Tax Consultants, also ceased to exist.
“Even if the Appellants (KPMG Nigeria) had ceased to do business as the Court seemed to have held, the 2nd Respondents (KPMG Professional Services) should not have been carrying on business until the Appellant’s certificate of registration is withdrawn or set aside.
“They cannot use the name until the Appellant’s certification of registration is withdrawn or set aside. They cannot use the name until the name is removed from the 1st Respondent’s (CAC) Register of Names.
“The 1st Respondents can only assign the name to the 2nd Respondents after first taking it away from the Appellants.”
The court ruled that CAC erred by registering KPMG Professional Services despite the existence of a business name, which is already registered.
The judge reversed the earlier ruling of the lower court and reaffirmed the primacy of statutory protection for existing business names under Nigerian corporate law.
Air Peace has announced the launch of direct flights from Abuja to London Heathrow and Gatwick airports, with operations scheduled to begin on October 26, 2025.
The airline said in a statement on Sunday that round-trip fares for the Abuja–London service will start from N1m, making it the first Nigerian carrier to offer direct connections from the capital to both of London’s major international airports. This was contained in a press release issued on Sunday by the airline’s spokesperson, Efe Osifo-Whiskey.
“Direct international flight services from Abuja to both London Heathrow and London Gatwick Airports, effective October 26, 2025.
“Air Peace becomes the first Nigerian carrier to offer direct services from Abuja to both of London’s major international airports, further solidifying its role as a leader in regional and intercontinental aviation.
“Travellers originating from any of Air Peace’s domestic destinations across Nigeria can now book through fares via Abuja to either Heathrow or Gatwick using a single ticket, eliminating the need for multiple bookings or baggage re-checks,” the statement read.
Similarly, the new route opens convenient access for inbound passengers from the UK to cities across Nigeria.
“Travellers from London can access multiple destinations across Nigeria using a single Air Peace ticket through Abuja every morning. These destinations are Lagos, Port Harcourt, Enugu, Benin, Warri, Owerri, Kano, Yola, Gombe and Asaba, for now. Other destinations will be added later,” Osifo-Whiskey stated.
Air Peace is also offering what it describes as unprecedented value in pricing and service.
Osifo-Whiskey said, “It provides a distinct competitive advantage, enabling passengers to travel between Nigeria and the United Kingdom with greater ease, efficiency, and value, due to the possibility of choosing multiple cities entry and exit points.
“Has the cheapest fares ever, starting from only 1 Million Naira round trip. Huge baggage allowance.”
The Abuja–London launch comes months after the airline began Lagos–London Heathrow flights, which started earlier in 2024.
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