Premium Trust Bank e-payment manager arraigned over alleged cybercrime and server hack in Lagos 

Adeniyi, along with four co-defendants, Kehinde Odeyemi, a nursing mother, Samson Latshin, Bolaji Omotosho, and Sunday Okunnola, was formally charged by the Economic and Financial Crimes Commission (EFCC) before Justice Alexander Owoeye.

The charges, spread across six counts, include conspiracy, cybercrime, and unlawful access to the bank’s database.

The prosecutor, Mrs. Zeenat Atiku, alleged that the defendants committed the offence between April and May 2025, working in collaboration with three additional suspects who are currently at large. Those still evading law enforcement include Isa Ismaila, Victor Joshua, known by the alias ‘Oracle’, and another individual simply identified as Humble.

According to the prosecution, Adeniyi, the first defendant, unlawfully disclosed highly sensitive credentials, including the bank’s server IP and domain details, to his alleged accomplices. This unauthorized disclosure reportedly led to a security breach, allowing illicit access to the bank’s database.

“The breach resulted in a financial loss of $10,000,” the prosecutor stated, outlining the gravity of the cyber intrusion.

Additionally, Atiku revealed that the defendants attempted to intercept the bank’s network security systems and procured a Hewlett-Packard ProBook 440 G9 laptop (serial number SN#5CD2473N6G) specifically configured to bypass the financial institution’s cybersecurity protocols.

Despite the severity of the allegations, the defendants pleaded not guilty to the charges. The EFCC stated that the alleged offences violated the provisions of sections 12(1)(b), 27, 28(1)(b)(c), and 28(3) of the Cybercrimes (Prohibition Act, 2015, as amended in 2024).

This high-profile cybercrime case underscores growing concerns about security vulnerabilities within financial institutions and the increasing sophistication of digital crimes.

Financial crimes are usually perpetrated by staff of banks in collaboration with other outsiders.

Experts have advised that by adopting safer banking habits, strengthening institutional security frameworks, and fostering stronger collaboration among stakeholders, financial institutions can minimize risks while continuing to enjoy the benefits of a secure and efficient digital financial system.