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Court freezes N1.1billion linked to Globus Bank ex-staff accused of hacking, stealing customers N3.5 billion

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5 months ago

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Story Highlights

  • Federal High Court Abuja freezes N1.1 billion across multiple bank accounts linked to ex-staff of Globus Bank accused of hacking and stealing N3.5 billion from customers.
  • EFCC alleges that Babatunde Idris Olayiwola, Chinedu Ihuma, and Igwe George Benedict Obinna, former ICT staff of Globus Bank, orchestrated the fraud using insider knowledge and accessed bank accounts.
  • The investigation includes forensic analysis of computers and phones belonging to the suspects; suspects are reportedly abroad while legal actions proceed in Nigerian courts.

The Federal High Court Abuja has frozen about N1,198,911,864.72 domiciled in Fidelity Bank, GT Bank, Access Bank and Wema Bank following monies linked to ex-staff of Globus Bank alleged to have hacked into customers N3.5 billion transactions and stolen same.

The order was made against the following account names Haril Global Solutions Ltd, Abdullahi Abubakar Sadiq, Onobun Oluwaseun Olumide and Oluwaseun Adeniyi Afolabi, following a request by the Economic and Financial Crimes Commission (EFCC) as exclusively seen by Nairametrics on its expertise originating summons (dated January 12, 2024) and associated internal memos and intelligence reports.

The EFCC counsel, Olanrewaju Adeola, had asked the court to freeze all the accounts in the interest of justice and stop all outward payments, operations or transactions (including bill of exchange) on those accounts, in suit NO/FHC/CS/32/2024.

Tip Off

Before the EFCC swooped in, the management of Globus Bank had in 2023 raised alarm over the hacking of their systems indicting a few of their ex-staff who worked in the ICT department.

Based on documents seen by Nairametrics, the bank hurriedly approached a court in Lagos for freezing orders against several bank accounts allegedly associated with the suspects.

The bank then reported the development to the EFCC.

EFCC’s allegations against suspects

In EFCC’s affidavit in support deposed to by its Litigation Clerk,  Samson Oloje, the commission received an intelligence report about the activities of ex-staff of Globus Bank who allegedly hacked into the bank systems and stole the sum of N3.5000.000.00 of customers’ money.

Upon receipt of the intelligence report, Globus Bank was invited wherein one Monday Edward, Head of Internal Audit/Chief Inspector of the Bank came and volunteered a statement confirming that the bank system was hacked.

He added that the intelligence report was assigned to the Advance Fee Fraud Section of the Commission and investigation thus far reveals that about three ICT staff of the bank perpetuated the fraud before leaving the institution.

He stressed that as pioneers and architects of the Globus Bank ICT software platform, Babatunde Idris Olayiwola, Chinedu Ihuma and Igwe George Benedict Obinna, who allegedly carried out the crime are abreast of the platform working details and knew how to access all the accounts of Globus Bank.

He stated in his affidavit,

“That one Babatunde Idris Olayiwola a former staff of Globus who is an ICT expert, who created all the software platforms the bank is using in its daily operational business introduced one Chinedu lhuma to Globus Bank when the former was about to exit the bank.

“That Chinedu Ihuma, a former staff of Globus Bank was also an ICT expert introduced to the Bank by Babatunde Olayiwole to oversee the ICT software operational platforms created by Babatunde Olayiwola for the Bank. He also introduced one Igwe George Benedict Obinna to the bank to take over and oversee the ICT software operational platforms when the former was about to exit the bank.

“That investigation reveals that Babatunde Idris Olayiwola, Chinedu Inuma and Igwe George Benedict Obinna hacked into the computer systems of Globus Bank and they transferred monies over Three Billion, Five Hundred Million Naira (N3. 500.000.000) from the account of the Bank into various account belonging to Haril Global Solutions Ltd and affiliate different bank accounts domicile in various banks across the country.

“That further investigation reveals that the fraud was perpetrated through the login details of Igwe George Benedict Obinna which he shared with the duo of Babatunde Idris Olayiwola and Chinedu Ihuma.”

Oloje stated that sequel to the findings of the investigations, all bank accounts related to the fraud were requested via investigation activities letters to banks concerned wherein evidence of receipt of funds was established.

The EFCC staff also informed the court that Globus Bank management earlier approached the Federal High Court, Lagos to place a Post No Debit (PND) order on the bank accounts where the monies had been diverted, in order to prevent the depletion of the funds in the accounts.

Furthermore, he informed the court that the computers and telephone device of Igwe George Benedict Obinna has been sent for forensic analysis to know the extent of the involvement of Babatunde Idris, Olayiwola Chinedu Ihuma and Igwe George Benedict Obinna in the illegal activities.

“During the course of the investigation, the prime suspect, Igwe George Benedict Obinna was arrested and interviewed and made a statement to the effect of his dealing with the perpetuation of the fraud,” the EFCC stated.

The EFCC asked the court to grant its request as not granting it would jeopardize the ongoing investigation into the intelligence report received by the commission.

On January 23, 2024, Justice Inyang Ekwo freezed the accounts in dispute and adjourned for the EFCC to provide reports of the final outcome of its investigation.

More insights

As seen on several court documents, Globus Bank, on December 21, 2023, obtained an order from the Federal High Court Lagos freezing the bank accounts associated with the suspects.

As gathered from the EFCC intelligence documents, the 2 principal actors and ex-staff of Globus Bank, (Idris Olayiwola and Chinedu) are both believed to be in the United Kingdom.

Nairametrics also reliably gathered that the suspects that the EFCC is probing have instituted a matter against the Commission and Globus Bank at the High Court of Justice, Maitama FCT Abuja in suit no: CV/1841/24.

They seek to quash the legal moves made by the bank and EFCC.

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JUST IN: Tinubu returns to Abuja after France, South Africa trips

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3 hours ago

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December 4, 2024

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President Bola Tinubu has returned to Abuja from his visit to France and South Africa.

The Airbus A330 which conveyed Tinubu, arrived at the Presidential Wing of the Nnamdi Azikiwe International Airport, Abuja, at 9.10pm.

This concludes his 33rd foreign trip since assuming office 18 months ago.

Tinubu was in France from November 27 to December 1, 2024, for a three-day state visit on the invitation of his French counterpart, Emmanuel Macron.

At the Palais des Elysée in Paris, Tinubu and Macron signed two agreements to ensure a partnership on developing critical infrastructure and the long-term sustenance of agriculture and food security.

They also witnessed the signing of the agreement by the United Bank for Africa Group Chairman Tony Elumelu and Mr. Antoine Armand, the French Minister of Economy, Finance and Industry for the bank to commence operations in Paris.

Zenith Bank also inaugurated its services in the country during the visit.

On Monday, December 2, Tinubu departed France for South Africa.

He, alongside President Cyril Ramaphosa, co-chaired the 11th Bi-National Commission between Nigeria and South Africa in Cape Town.

At the opening of the event, on Tuesday, the President argued that Nigeria and South Africa share a collective destiny to collaborate for the good of the African continent.

Therefore, he said both countries must intensify cooperation across various sectors, warning that the implementation, not the mere signing of MoUs, constitutes the success of the partnership.

He also sought South Africa’s support to ensure Nigeria’s membership in the G20 nations, a premier international forum for economic cooperation, bringing together the world’s major advanced and emerging economies.

In response, Ramaphosa announced that South Africa will “keenly” support the bid of Nigeria, “a valued sister country,” to become a member of the G20 club of the world’s major economies.

Ramaphosa said other key African countries should also be admitted to the club “so that we can raise the voice from Africa, the neglected continent for the longest time.”

He noted that South Africa had been the lone voice for Africa in the G20 before the admission of the African Union last year after his country had lobbied for it to become a member.

Nigeria and South Africa also operationalised the Joint Ministerial Advisory Council on Industry, Trade and Investment to enhance economic cooperation between the two leading African economies.

Tinubu was received at the airport by the Minister of the Federal Capital Territory, Nyesom Wike, and the Secretary to the Government of the Federation, George Akume, among other senior government officials.

So far, the president has logged 139 days abroad, visited 17 countries, and accumulated about 304 flight hours.

Countries visited include Paris, France (five times); Malabo, Equatorial Guinea; London, the United Kingdom (four times); Bissau, Guinea-Bissau (twice); Rio de Janeiro, Brazil; Nairobi, Kenya; Porto Norvo, Benin Republic; The Hague, Netherlands; Pretoria and Cape Town, South Africa; Accra, Ghana; New Delhi, India; Abu Dhabi and Dubai in the United Arab Emirates; New York, the United States of America; Riyadh, Saudi Arabia (twice); Berlin, Germany; Addis Ababa, Ethiopia; Dakar, Senegal and Doha, Qatar.

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Federal Government Is Not Investigating Air Peace – FCCPC

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7 hours ago

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December 4, 2024

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The Federal Competition and Consumer Protection Commission, FCCPC says its invitation to Air Peace is simply for an inquiry to understand its price methodology and respond to consumers complaints.
The Director, Surveillance and Investigation, Mrs. Boladale Adeyinka said neither the airline nor the chairman, Dr. Allen Onyema is under any investigation, but that the Commission invited Air Peace based on complaints from customers for the airline to educate them on its price methodology.
“Thank you so much for honouring our invite in person. We have gained more insight into your operations. Just again to reiterate that it is not an investigation, it is an enquiry to understand and again, find out based on consumer complaints.”
Adeyinka, who stated this on Tuesday in Abuja when the chairman of Air Peace, Dr. Allen Onyema led some members of his team to honour the invite extended to the airline, commended Air Peace for the insights made on its operations.
“Thank you also for bringing your expertise and insights to the industry, it is a good one for us, it is a good one for Nigerian consumers. This is our own, we are happy that you are doing well because if the consumers are saying that this is our aircraft, it means that ownership has moved from you to every Nigerian.”
She noted that the Commission exists for the good of businesses, customers and the operators, stressing that business stability and sustainability are core to their mandate. “We will review the situation and intervene where we can, not just for Air Peace customers but generally for all air passengers and other consumers of aviation services,” adding that this is part of the Commission’s efforts at bringing competitiveness in the market.
The FCCPC director also commended Dr. Onyema for his love for the country and philanthropic spirit and advised him not to let anything deter him from his services to humanity.
Earlier the Chairman of Air Peace, Dr. Onyema explained that fare pricing in the aviation sector is a global thing but lamented that the fare regime in Nigeria is not commensurate to the cost of putting an aircraft in the air, thus the reason why airlines frequently go under in Nigeria.
Dr Onyema argued that the choice before Nigerians going forward would be flying safe and sustainability of the airlines, which requires proper pricing based on global standards or watch the airlines go under due to poor pricing. “We need flight safety in Nigeria. For us at Air Peace, safety is a pre-condition rather than just a priority.”
He pointed out that the cost of flying anywhere in the world is priced at between $250 to $300 for an hour and in some cases even as high as $540, adding that this is what could pass for fair pricing, which Air Peace does not follow because of the low purchasing power of Nigerians.
Dr Onyema argued that the addictive nature of aviation business and patriotism have kept him in the business, stressing that if Air Peace is to factor the numerous charges involved in its operational cost, not many Nigerians would afford to fly.
He stated that the high cost of interest on loans from banks ranging from 33 to 35 percent, high insurance cost put at about $12m annually, an amount which could insure about eight aircraft abroad, volatility in the cost of aviation fuel, other sundry charges and replacement of parts, which are all sourced in dollars, make prices of tickets very high.
The Chairman of Air Peace also pointed out that it costs about $4,000 for landing per hour for an airbus plane, just as there is a cost for engine flight circle per hour, stressing that these costs if factored into operating cost will deny a number of Nigerians the opportunity of flying.
“What happens abroad is far better but here, it is a different ball game. When you calculate all these costs, you will find out that when you fill your plane with passengers, you will still have not broken even, though 70% is given as the breakeven point because the fares are not just right.”
He further highlighted that in other climes the cost of operations accounts for 40 percent component of the business but regretted that the case is different in Nigeria as the cost is much higher even up to 70 percent.
Dr Onyema noted that he has served Nigeria well at critical times in helping to protect the image of the country during COVID-19, and other times when some Nigerians were stranded abroad at no cost to the nation, stressing that nothing will kill the patriotic spirit in him.

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Just In: Nigerian Activist, Dele Farotimi Sent To Prison 24 Hours After Arrest..

Published

14 hours ago

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December 4, 2024

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Popular human right activist, Dele Farotimi has been sent to prison following his arrest yesterday in Lagos.

 

Farotimi was arrested in Lagos and whisked to Ekiti state for an allegation of defamation following a petition written against him by Aare Afe Babalola, SAN.

 

 

Aare Afe Babalola had accused Dele Farotimi of defaming him in a video he shared about corruption in the judiciary.

 

While giving update about the issue on Twitter, Omoyele Sowore confirmed that Dele Farotimi has been sent to prison.

 

“The Nigerian justice system is whack, as expected @DeleFarotimi has been hurriedly prosecuted and sent to prison after being denied bail by a judge in Ado Ekiti pre-arranged to do the same.

 

 

According to Sowore, “The Nigerian Police, Chief Afe Babalola SAN, and the judicial officers had it all planned out even before they sent the goons from Ekiti state command RRS (formerly SARS) to abduct him. The case adjourned till December 10, 2024. #RevolutionNow, I mean it. Nigeria is overdue for a REVOLUTION! “

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