ALARMING!!! N752 Million Stolen As Hackers Take Over UBA Server

ALARMING!!! N752 Million Stolen As Hackers Take Over UBA Server

The Lagos Division of the Federal High Court has commenced hearing
on the hacking of the United Bank for Africa (UBA) Plc's server in which N752 million from a Flour Mills of Nigeria Plc account was stolen.

The hackers transferred the money in tranches to twenty separate accounts including one belonging to Ola Lawal, a.k.a Lawal Roland and his company, DCAN Oil and Gas Ltd, according to UBA's auditor Ojo Oladimeji in the suit before Justice Chuka Obiozor.

Oladimeji on Tuesday testified against Lawal who is now facing criminal trial.

The theft according to the UBA official occurred between June 24 and July 3, 2019.

The defendants are being tried on a two-count charge of fraudulent transfer of N46 million from Flour Mills’ UBA account to DCAN’s account domiciled in Union Bank Plc,” when they knew “that the funds form part of unlawful activities.”

The alleged offences according to the Economic and Financial Crimes Commission (EFCC) which arraigned them October 14 contravened sections 2 and 15(2)(d) of Money Laundering (Prohibition) Act, 2011 and were punishable under Section 15(2)(3) of the same Act.

They both pleaded not guilty.

Justice Chuka Obiozor adjourned till Wednesday to hear and determine the defendant’s bail application and begin trial.

At the commencement of proceedings, Oladimeji, who is the first prosecution witness, was led in evidence by EFCC counsel Mr. M. K. Hussain.

He narrated how Flour Mill’s N752m was stolen.

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Oladimeji said it was discovered that “the sum of N752 million had been fraudulently transferred from one of our customer’s account, Flour Mills Nigeria Limited, to 20 different accounts, which the defendant’s company’s account was a beneficiary.

“Flour Mills’ account was hacked between June 24 and July 3, 2019, and the total sum of N752 million was Fraudulently transferred.

“The defendant’s account in Union Bank Plc received N46 million on July 3. We then wrote a letter to our lawyer, Akin Adesomoju, to assist us with a petition to the EFCC to assist in investigation, recovery, arrest and prosecution of the culprits, that was how the defendant was arrested and charged to court after the EFCC investigation”.

During cross-examination by the defendant’s counsel, Mr Ademola Iroko, the witness told the court that he did not know who transferred the money and that that was why the matter was reported to the EFCC. He also stated that the purpose of the transfer was unknown to him.

Oladimeji also said that he did not know the name of Flour Mill’s account officer, but that his bank had the record of how the money was transfered to 20 accounts, which the defendant’s company’s account was one of the beneficiaries.

Earlier, Justice Obiozor admitted the defendant and his company to bail in the sum of N50 million each with one surety in the

like sum, among other terms.

The trial continues on December 12.

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