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N8.5 billion bank fraud: EFCC arraigns three bankers, four suspects in Lagos

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The EFCC has arraigned three Lagos bankers and four accomplices in Federal High Court, Lagos, over an alleged N8.5bn fraud scheme involving manipulation of bank systems and data

The Economic and Financial Crimes Commission (EFCC) has brought three Lagos bankers and four alleged accomplices before the Federal High Court in Lagos.

Also read: N1.3 trillion crypto fraud: EFCC recovers assets, apprehends suspects in CBEX crackdown

They face an eight-count charge bordering on conspiracy and obtaining money under false pretence, linked to an N8.5 billion fraud scheme.

The accused bankers are Samuel Ihechukwu Asiegbu, Fabian Onyeimachi, and Kingsley Ejim Kelechi. Their co-defendants include Hannah Okunlola Adesokan, Hamza Zakariya, Achionu Ubaku, and Sunday Osademe.

According to a statement issued on Monday, May 26, 2025, by EFCC spokesperson Dele Oyewale, the alleged fraud occurred in January 2025.

The accused persons are said to have manipulated a bank’s internal systems and altered critical banking data, resulting in a substantial financial loss totaling N8,568,090,500.

The EFCC alleges that the defendants conspired with others currently at large to execute these fraudulent transactions, designed to confer economic benefits upon themselves.

The accused persons were said to have manipulated a bank’s internal systems and altered critical banking data in January 2025, causing a financial loss totalling N8,568,090,500.

The prosecution contends that the defendants committed an offence contrary to Section 27(1)(a) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015.

Upon the reading of the charges, all the defendants pleaded not guilty. Following their plea, EFCC counsel, Aso Peters, requested the court to set a trial date and to remand the defendants in the custody of the Nigerian Correctional Service.

However, the defence counsel representing Hannah Okunlola requested that she be remanded in EFCC custody instead, citing concerns over her health condition.

Justice Daniel Osiagor granted the prosecution’s request for remand and adjourned the case to **June 6, 2025**, for trial.

The EFCC statement further detailed the remand arrangements: five of the defendants were remanded in the custody of the Nigerian Correctional Service, while Kingsley Ejim Kelechi was permitted to continue on his existing bail.

Hannah Okunlola was ordered to remain in EFCC custody pending further hearing.

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Alake Urges Africa to End Raw Mineral Exports

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Africa mineral value addition push gains momentum as Minister Dele Alake urges nations to stop exporting raw minerals and strengthen regional cooperation (more…)

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Governor Dauda Lawal Approves 120-Day Rapid Intervention Plan to Revamp Zamfara State’s Educational Sector

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Governor Dauda Lawal has approved a 120-day Rapid Intervention Action Plan aimed at addressing systemic failures in Zamfara State’s education sector.

The Governor presided over the State Executive Council meeting on Monday at the Government House in Gusau, where key decisions were taken.

During deliberations at the 65th Council meeting, issues related to education, health, works, and other sectors were discussed and approved.

The Council endorsed a 120-day rapid intervention plan built on prior diagnostic activities conducted by the Ministry of Education and the Education Quality Assurance Agency (EQAA). The plan, presented by the overseeing Commissioner for Education, Abdulmalik Abubakar Gajam, includes payroll audits, school mapping exercises, and infrastructure assessments. It proposes targeted, time-bound interventions across governance, infrastructure, digital transformation, teacher development, and student welfare.

The Council also approved the formation of a joint committee to immediately assess all illegal or unapproved structures built around schools in the state, with a view to relocating them and securing school environments. The committee will be led by the Ministry of Education, Science and Technology (MOEST).

Additionally, the Council approved a single, unified Education Sector Bill (covering Early Childhood Care Development Education to Tertiary level), to be developed in consultation with stakeholders including agencies, institutions, civil society, traditional rulers, and development partners. A draft bill will be presented to the State House of Assembly for enactment within the emergency timeframe.

The Governor further approved the transfer of non-teaching staff—such as messengers, labourers, gardeners, cooks, guards, drivers, health workers, and artisans—from the Ministry’s payroll to appropriate MDAs (CPG, MoH, Establishment) or private firms.

Among other important issues, the Council approved the composition of the Zamfara State Steering Committee on the State of Emergency on Education and authorised the Committee to constitute a Technical Working Group (TWG) and co-opt stakeholders including the NUT, UNICEF, UBEC, traditional and religious leaders, private school proprietors, and CSOs.

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