A suspected hacker, Sunday Ozimede, has been accused of defrauding Nigerians of N1.1 billion through a dark web operation targeting Moniepoint, a leading payment system in Nigeria.
According to Justin Enang, the prosecutor for the Lagos Police Special Fraud Unit (PSFU), Ozimede was arraigned before the Federal High Court in Lagos on Friday, facing charges of conspiracy and obtaining N945.7 million by false pretenses.
Ozimede is alleged to have planted a bug in Moniepoint’s data system, leading to a financial loss of N145 million for the microfinance bank.
The prosecutor stated that Ozimede’s actions contravened sections of the Cyber Crimes (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024, and the Money Laundering (Prevention and Prohibition) Act, 2022.
The defendant pleaded not guilty to the charges.
Justice Ambrose Lewis-Allagoa granted Ozimede bail in the sum of N50 million, with a requirement for one surety who owns a landed property.