The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) has arraigned five individuals, including two Premium Trust Bank employees, before Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos, on charges of conspiracy to commit cyber-related theft.
The bank employees, identified as Kehinde Odeyemi and Matthew Adeniyi Damilola, were arraigned alongside Samson Latshin Dakup, Bolaji Omotosho Yinka, and Sunday Badeniyi Okunola on Tuesday. The defendants face a seven-count charge related to an alleged attempt to compromise the bank's information technology systems.
According to the EFCC, the defendants allegedly conspired to manipulate the bank's server and domain login credentials in a sophisticated plot to gain unauthorized access to the bank's internal systems. Their alleged intention was to siphon customers' deposits, but the anti-graft agency reportedly intercepted the attempted breach before any financial loss occurred.
One of the charges presented in court detailed that the defendants, along with four other individuals currently at large, conspired between April and May 2025 to manipulate Premium Trust Bank's access codes, including server IP and domain credentials, to gain unauthorized access to the bank's entire database with the intent to steal funds.
The offense is contrary to Sections 27 and 28(1)(b) of the Cybercrimes (Prohibition, Prevention, Etc) Act, 2015 (as amended, 2024), and punishable under Section 28(2) of the same Act.
All five defendants pleaded not guilty to the charges when they appeared before Justice Owoeye.
Following their pleas, the prosecution counsel, Zeenat B. Atiku, requested a trial date and asked that the defendants be remanded in a Correctional Centre pending further proceedings.
Defense counsel Adeleke Adepoju, representing the first defendant, made an oral application for bail under liberal terms, citing insufficient time to file a formal bail application. Other defense counsel made similar oral pleas for their clients.
However, Justice Owoeye declined the oral applications and directed that all bail requests must be made formally through the proper legal channels. The judge subsequently ordered Kehinde Odeyemi to be remanded at the Kirikiri Correctional Centre, while the four other defendants were remanded at the Ikoyi Correctional Centre.
The case highlights growing concerns about insider threats within Nigeria's banking sector and the increasing sophistication of cyber-related financial crimes. The EFCC continues to intensify its efforts to combat such crimes, particularly those involving financial institutions' employees who may exploit their positions to compromise security systems.
