Connect with us

Business

Moniepoint lose depositors’ N1.1bn to Fraudsters

Published

on

The hacker, Sunday Ozimede, was said to have invaded the vault of Moniepoint and defrauded the lender of a sum of N1,190, 728, 076 billion.

The hacker who has been arrested by the operatives of the Police Special Fraud Unit (PSFU), was  arraigned before Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, on charges bordering on conspiracy, obtaining the sum of N945, 728, 076 million by false pretence.

The 43 years old alleged hacker, was also accused of causing financial loss to Moniepoint Microfinance Bank to the tune of N145 million, by planting a bug in the bank’s data system.

The PSFU’s prosecutor, Barrister Justine Enang, on the arraignment of the defendant, told the court that Ozimede and others said to be at large, committed the alleged offences sometimes in May, 2024.

Specifically, the prosecutor told the court the the defendant Sunday Ozimede, fraudulently diverted the mentioned sum from various Moniepoint Microfinance Bank’s customers deposited funds through numerous transactions to other banks.

He told the court that the illegal acts of the defendant, are contrary to and punishable under sections Section 27 (i)(b); 14 of the Cyber Crimes (Prohibition, Prevention etc) Act, 2015 as Amended in 2024, Road along with section 14 (1) of the same Act.

The prosecutor also told the court that the act of the defendant contravened section 18(2) (b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

The defendant denied the allegations and pleaded not guilty to the charges.

However, defendant’s lawyer, Abdulmalik Ibrahim, through a motion for bail, pleaded with the the court to admit his client to bail in the most liberal terms.

The application was strongly challenged by the prosecutor, who told the court that the defendant is a ‘flight risk’, saying that he may not turn up for his trial if granted bail.

Justice Lewis-Allagoa, after listening to the parties, however, admitted bail to the defendant in the sum N50 million with one surety in like sum.

The judge also ordered that the surety must be a landed property owner within the jurisdiction of this court. Adding that the terms of the bail must be verified by the court’s Registrar and the prosecutor.

The matter has been adjourned to March 13, for the defendant’s.

The amended charge against the defendant reads: “that you Sunday Ozimede “M” and others now at large, sometime in May, 2024, in Lagos State within the jurisdiction of the judicial Division of the Federal High Court, with intent to defraud, did conspire amongst yourselves to commit a felony to wit: obtaining the sum of N945, 728, 076. 00 (Nine Hundred and Forty Five Million, Seven Hundred and Twenty Eight Thousand and Seventy Six Naira) by false pretence and thereby committed an offence contrary to Section 27 (i) (b) of the Cyber Crimes (Prohibition, Prevention etc) Act, 2015 as Amended in 2024, Road along with section 14 (1) of the same Act.

“That you Sunday Ozimede “M” and others now at large, sometime in May, 2024, in Lagos State within the aforementioned Judicial Division of the Federal High Court, did knowingly and without authority cause financial lost to Moniepoint Microfinance Bank to the tune of N145,000,001.00 (One Hundred and Forty Five Million and One Naira) by planting a bug in the company’s data system and moved the above sum from its Operational account into account number 6343898097 trading under the name: Sunday Ozimede which sum you fraudulently diverted from Moniepont Microfinance Bank customers deposited funds through numerous transactions to other banks, thereby conferred economic benefit on yourselves by converting the money in question to your own use against Moniepoint Microfinance Bank and thereby committed an offence contrary to and punishable under Section 14 (1) of fhe Cyber Crimes (Prohibition, Prevention etc) Act, 2015 as Amended in 2024,

“That you Sunday Ozimede “M” and others now at large, sometime in May, 2024, in Lagos State in the aforementioned Judicial Division of the Federal High Court, Lagos, did directly or indirectly converts or transfers, retains or takes possession or control of funds belonging to Moniepoint Microfinance Bank intentionally, knowingly or reasonably ought to have known that such funds is, or forms part of the proceeds of an unlawful Act and thereby committed an offence contrary to Section 18(2) (b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

ZENITH BANK, CANADA-AFRICA CHAMBER CONVENE BUSINESS LEADERS TO ADVANCE TRADE AND INVESTMENT

(L-R) The Deputy High Commissioner of Canada to Nigeria, Mr. Carlos Rojas-Arbulú; Chair of the Board, Canada-Africa Chamber of Business, Paula Caldwell St-Onge; Executive Director, Zenith Bank Plc, Mr. Akin Ogunranti; Permanent Secretary, Ministry of Commerce, Cooperatives, Trade and Investment, Mr. Babatunde Onigbanjo; the Asalu-Elemo of Ilemo Land, Alhaji Adedayo Thomas, Ph.D; DG/CEO Lagos Chamber of Commerce and Industry, Dr. Chinyere Almona; and President, Canada-Africa Chamber of Business, Garreth Bloor; at the 6th Canada-Africa Business Conference held at the Grand Ball Room, Eko Hotel & Suites, VI, Lagos

Published

on

Zenith Bank Plc reaffirmed its commitment to advancing trade, investment and economic cooperation between Canada and Africa as the Headline Conference Sponsor of the 6th Canada-Africa Business Conference, held on Wednesday, 24 June 2026 at Eko Hotel & Suites, Victoria Island, Lagos.

Organised by the Canada-Africa Chamber of Business, the conference brought together a high-level Canadian business delegation representing 31 companies, alongside senior government officials, business leaders, investors, policymakers, diplomats and development partners. The gathering set out to strengthen commercial relations between Canada and Africa and to position Nigeria as a strategic gateway for Canadian businesses seeking opportunities across the continent.

The Canadian delegation comprised companies and institutions operating across financial services, security, mining and critical minerals, legal and professional services, infrastructure, technology, healthcare, education and clean energy. Among those present were GardaWorld, Dentons, Baywood Group, Element, Trilliant and other leading Canadian enterprises exploring commercial opportunities and strategic partnerships in Nigeria.

The Executive Director of Zenith Bank Plc, Mr. Akin Ogunranti, who delivered the keynote address on behalf of the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, described the conference as a timely platform for deepening commercial partnerships between Canada and Africa amid shifting global economic realities. He underscored Africa’s readiness to lead the next phase of global economic growth, stressing that the continent now possesses the institutions, policy frameworks and partnerships required to turn its immense potential into shared prosperity.

“The question is not whether Africa is rich in potential. It is whether we can turn that potential into prosperity our people can feel. For the first time, the answer is yes, because of the machinery we are now building,” he said.

Representing the Governor of Lagos State, His Excellency Mr. Babajide Sanwo-Olu, the Permanent Secretary, Ministry of Commerce, Cooperatives, Trade and Investment, Mr. Babatunde Onigbanjo, reaffirmed the State Government’s commitment to fostering an enabling environment for investment and international partnerships, and highlighted Lagos’ position as Nigeria’s commercial hub and gateway to African markets.

“Canada brings to the table considerable expertise, capital, innovation, and a strong tradition of institution building. Africa, and indeed Lagos, offer scale. We offer talent, creativity, market opportunities and an increasingly sophisticated business environment. Together, these strengths create a compelling foundation for transformative partnership,” he said.

Speaking at the event, the Deputy High Commissioner of Canada to Nigeria, Mr. Carlos Rojas-Arbulú, noted that the conference reflects the growing momentum in bilateral commercial collaboration between both countries. He said: “The relationship between Canada and Nigeria is not new. It is rooted in diplomacy, trade, education, culture, migration, and shared democratic values. But today, I believe we are entering a new chapter: one that is more ambitious, more practical, and more human.”

The Chair of the Board of the Canada-Africa Chamber of Business, Paula Caldwell St-Onge, highlighted Nigeria’s growing economic significance, saying: “Nigeria’s growth is not theoretical. It is already being built by Nigerian entrepreneurs, investors, financial institutions, innovators and companies whose ambition reaches across Africa and around the world.”

She also acknowledged Zenith Bank’s role in advancing the conference’s objectives, stating: “Zenith Bank is not only one of Africa’s leading financial institutions, it is the capital behind what you see here today, and it represents the skill, ambition, discipline, innovation and excellence that this conference seeks to showcase.”

The conference featured high-level panel discussions on Canada-Africa commercial relations, investment opportunities across priority sectors, and the implementation of the African Continental Free Trade Area (AfCFTA). The sessions brought together policymakers, business executives and industry experts to identify practical pathways for strengthening commercial partnerships and accelerating sustainable economic development.The conference is expected to strengthen Nigeria’s attractiveness as a destination for Canadian investment, while opening new opportunities for technology transfer, private sector collaboration, job creation and long-term economic growth. It also reinforces Nigeria’s position as a strategic hub for businesses seeking to access opportunities across Africa under the AfCFTA, supporting the country’s ambition to expand its role in regional and global trade

Continue Reading

Business

ZENITH BANK OPENS OSUBI BRANCH, REINFORCING CONFIDENCE IN DELTA STATE’S ECONOMIC POTENTIAL

(L-R) DGM-Zonal Head, Delta 2 Zone, Zenith Bank Plc, Mr. Daniel Imani; Commissioner for Finance, Delta State, Hon Fidelis Tilije; The Executive Governor of Delta State, His Excellency Rt. Hon. Elder Sheriff Oborevwori; GMD/CEO of Zenith Bank Plc, Dame Dr. Adaora Umeoji OON; Prime Minister of Okpe Kingdom, Okakuro Mike Affe; Member, Delta State House of Assembly – Representing Okpe State Constituency, Hon James Augoye; at the Opening Ceremony of Zenith Bank Osubi Branch in Delta State on Wednesday, June 24, 2026.

Published

on

Zenith Bank Plc has expanded its presence in Delta State with the official opening of a new branch in Osubi, Okpe Local Government Area, becoming the first commercial bank to establish a presence in the Osubi community. The move reaffirms the Bank’s commitment to financial inclusion by bringing world-class financial services closer to communities and businesses.

The commissioning ceremony, held on Wednesday, 24 June 2026 in Osubi, was attended by the Governor of Delta State, Rt. Hon. Sheriff Oborevwori, alongside senior government officials, traditional rulers, members of the business community, customers, and other stakeholders.

In his remarks, Governor Oborevwori described the new branch as “a clear vote of confidence in the economic potential of our state. It shows that the investments we have made in infrastructure, economic development, and ease of doing business are producing tangible results. When a leading financial institution such as Zenith Bank expands its presence in Delta State, it sends a powerful message that Delta State is open for business and ready for greater investment.”

The Governor also underscored the branch’s significance to the host community, noting that “this branch is the only bank in the whole of Okpe Local Government as it is today. The significance of this bank to our people cannot be overemphasised, because of the impact it will have on the economy of this local government.”

Speaking at the event, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame Dr. Adaora Umeoji, OON, commended the Governor for his support of private sector growth, noting that the establishment of the branch reflects the conducive environment for investment and economic development being fostered in Delta State.

She said: “We are deeply grateful to His Excellency, Rt. Hon. Sheriff Oborevwori, Governor of Delta State, for his unwavering support and partnership, and for finding time to personally commission the branch today. His generous donation of the land on which this branch is built is a testament to his administration’s commitment to fostering private sector investment and creating an enabling environment for businesses to thrive. Since assuming office, the Governor has driven significant infrastructure and socio-economic development across the state, and Zenith Bank is proud to contribute to that progress through this new branch in Osubi.”

The GMD described the Osubi branch, the Bank’s 19th in Delta State, as a milestone in Zenith Bank’s enduring relationship with the State. She reiterated the Bank’s commitment to serving underserved communities and to empowering individuals, businesses, women entrepreneurs, and SMEs through innovative banking solutions, access to finance, and capacity-building initiatives.She added that the new branch would serve as a catalyst for economic activity in Osubi and its surrounding communities, supporting the broader development of Delta State and Nigeria at large.

Continue Reading

Business

FirstBank, Visa Expand Premium Card Portfolio with Visa Signature Launch

Published

on

Designed for Nigeria's affluent segment, Visa Signature unlocks world-class benefits through Visa's global network across travel, lifestyle, and premium merchant offers.

First Bank of Nigeria Limited, in partnership with Visa, has announced the launch of Visa Signature, a premium card offering designed for Nigeria’s affluent segment. The card unlocks an exclusive portfolio of lifestyle benefits, global travel privileges, and curated merchant offers through Visa’s worldwide acceptance network, giving high-spending Nigerians a product built around how they live.  

Visa Signature targets Nigeria’s top executives, business owners, and frequent international travelers who expect more from their financial products. Through Visa Global benefits and Visa Destination offers, cardholders gain access to preferential rates, premium experiences, and priority services across hundreds of partner merchants, hotels, airlines, and destinations around the world. The card supports both domestic and cross-border transactions, ensuring seamless payment experiences whether cardholders are in Lagos, London, or Dubai.

Commenting on FirstBank’s ambition for its premium cardholders, Chuma Ezirim, Group Executive, eBusiness & Retail Products, FirstBank, said: At FirstBank, we are dedicated to creating financial solutions that reflect the evolving lifestyles of our customers. We understand that our premium customers aspire to experiences that reflect their global outlook. Visa Signature is crafted to meet those expectations, offering access to exclusive experiences, global connectivity, and lifestyle privileges that empower our customers to live without boundaries. We remain focused on creating value and reinforcing our position as the partner of first choice for Nigerians at home and abroad.”

Highlighting the strategic importance of the FirstBank partnership, Andrew Uaboi, Vice President and Cluster Head, West Africa, Visa, noted: “Nigeria’s affluent consumers are among the most active and globally connected spenders on the continent. Visa Signature is designed to serve that profile with the depth of benefits and the breadth of acceptance they deserve. We are delighted to work with FirstBank in making this available to the Nigerian market.”

The launch marks a strategic step for FirstBank in deepening its premium product offering. FirstBank’s existing Visa portfolio already serves millions of Nigerians across everyday retail, cross-border commerce, and online transactions through Visa Infinite, Visa Gold, Naira Credit, and Visa Prepaid cards. Visa Signature adds a dedicated tier for the affluent segment, giving this customer group the recognition and privileges their spending profile demands.

Visa Signature is available to eligible FirstBank customers. Interested customers can visit any FirstBank branch nationwide or contact their dedicated relationship manager to apply.

About FirstBank

First Bank of Nigeria Limited “FirstBank”, established in 1894, is the premier bank in West Africa, a leading financial inclusion services provider in Africa, and a digital banking giant. FirstBank’s international footprints cut across three continents ─ Africa, Europe and Asia, with FirstBank UK Limited in London and Paris; FirstBank in The Democratic Republic of Congo, Ghana, The Gambia, Guinea and Sierra Leone; FBNBank in Senegal; and a FirstBank Representative Office in Beijing, China. All the subsidiary banks are fully registered by their respective Central Banks to provide full banking services.Our vision is “To be Africa’s Bank of first choice” and our mission is “To remain true to our name by providing the best financial services possible”. This commitment is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation and Customer-Centricity. Our strategic ambition is “To deliver accelerated growth in profitability through customer-led innovation and disciplined execution.”

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.