Man charged over alleged N340 million cyber fraud

The Department of State Services has charged a 32-year-old man, Ogunwobi Ayodeji, in the Federal High Court in Lagos. He faces accusations of a cyberattack on MoMo Payment Service Bank Limited, part of MTN Nigeria Communications Plc. This attack reportedly led to the diversion of about N340 million.

Ayodeji appeared in court on Monday before Justice Ambrose Lewis-Allagoa. He faces five charges, including unlawful access to the bank’s financial systems, conspiracy, cybercrime, and money laundering.

The case, marked FHC/LAG/CR/825/2026, claims that Ayodeji hacked into the bank’s systems between May and August 2026. He allegedly gained unauthorized access to critical financial information.

Prosecutor Michael Bajela, along with J. A. Babalola, told the court that Ayodeji worked with an Indian national, Abhicheck Modane, who is currently missing. They allegedly accessed the bank’s systems unlawfully and diverted funds into unauthorized digital wallets and other accounts.

The prosecution also claimed that Ayodeji disrupted MoMo Payment Service Bank’s operations and diverted around N340 million belonging to the bank. He is further accused of hiding and transferring funds linked to the cyberattack. He allegedly collected or kept money from this criminal act.

These alleged crimes violate Sections 5, 6(1), and 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, along with parts of the Money Laundering (Prevention and Prohibition) Act, 2022.

Ayodeji pleaded not guilty to all five charges.

After his plea, the prosecutor asked the court to set a trial date and keep the defendant in custody until the case is resolved.

The defence lawyer informed the court that a bail application had been filed and served to the prosecution.

Bajela confirmed he received the application but requested that the court set strict conditions to ensure the defendant shows up for trial.

Justice Lewis-Allagoa ruled that Ayodeji be granted bail for N500 million. He must have one surety who can provide land worth the same amount.

The judge said the surety must live within the court's area and ordered Ayodeji to hand over his international passport to the Deputy Chief Registrar of the court.

However, Ayodeji will remain in a correctional facility until he meets the bail conditions.

Justice Lewis-Allagoa postponed the case until November 27, 2026, for the trial to start.