28-yr-old man hacks into Eco Bank’s app, steals N207m

A 28-year-old man has been arraigned before a Lagos Magistrate’s Court for allegedly hacking into the mobile app of Eco Bank PLC to steal N207 million.

James Nwagalezi reportedly connived with Okoli Nmesoma, who is already facing trial, to carry out the cyber crime. Nwagalezi was yesterday arraigned on a four-count charge bordering on felony to unlawfully hacking into bank account and stealing.

Police prosecutor, Inspector Jimoh Joseph, told the court that the defendant and others still at large committed the offence on April 27 at Igboelerin, Okokomaiko, Ojo, Lagos. He said The management of the bank at its headquarters in Lagos reported the fraud to the Divisional Police Officer, DPO, in charge of Ikoyi Division, SP Tijani Mustapha, who directed a crack team led by Inspector Tope Ijatuyi to fish out the suspects.

He added that "Nwagalezi was arrested after several months of manhunt. His arrest brings the number of suspects arrested and charged to court to six. The Police are still hunting for more suspects involved in the alleged fraud."

Nwagalezi pleaded not guilty to the charges.

Magistrate B. I. Bakare granted him N1 million bail, with two sureties in like sum, one of whom must be a community leader. He adjourned the case till July 4 and ordered that the defendant be remanded at the Ikoyi Prison, pending when he is able to perfect his bail conditions.