The Federal High Court in Lagos has ordered the remand of two bankers and five other individuals over their alleged involvement in an N8.5 billion fraud scheme. Justice Daniel Osiagor issued the remand order on Friday, May 23, 2025, following their arraignment by the Economic and Financial Crimes Commission (EFCC).

The accused bankers, identified as Samuel Ihechukwu and Fabian Chizaram, are employees of a first-generation bank. Their alleged accomplices include Kingsley Kelechi Ejim, Hanna Okunlola Adesokan, Hamza Zakariya, Achionu Chukwuka Ubaku, and Sunday Osademe.

According to the First Information Report presented by the Lagos Zonal Directorate 1 of the EFCC, the defendants allegedly conspired "to cause loss of property to bank accounts domiciled in Wema Bank Nigeria Plc., in order to confer economic benefit on yourselves" in January 2025.

The eight-count charge brought against the defendants includes conspiracy and obtaining under false pretence. The offences reportedly violate Section 27(1)(a) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015.

When the charges were read in court, all defendants pleaded not guilty. Following their pleas, the prosecution counsel, Aso Larrys Peters, requested a trial date and asked that the defendants be remanded in a correctional facility.

The court granted the prosecution's request, with Justice Osiagor adjourning the case to June 6, 2025, for the commencement of trial.

This case highlights ongoing efforts by Nigerian authorities to combat financial crimes in the banking sector, particularly those involving cybercrimes and the exploitation of digital banking systems.

The EFCC continues to intensify its crackdown on banking fraud as part of broader initiatives to protect Nigeria's financial system and ensure accountability in the sector.