Hackers Sweep N3Bn from FCMB as EFCC Arraigns Suspect in Lagos

The Economic and Financial Crimes Commission (EFCC) has arraigned a suspect in connection with a major cyber-enabled fraud that saw over N3 billion siphoned from customer accounts with First City Monument Bank (FCMB).

The defendant, Andrew Odekina, was brought before Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday.

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According to the anti-graft agency, Odekina is accused of retaining proceeds linked to a large-scale hacking operation targeting FCMB customers.

Investigators allege that cybercriminals gained unauthorised access to bank applications, enabling the diversion of N3.09 billion from multiple accounts.

Odekina is specifically charged with receiving and retaining N9.87 million, believed to be part of the stolen funds, in his FCMB account in 2025.

The offence contravenes provisions of the EFCC (Establishment) Act, 2004.

The charge states that the defendant, alongside accomplices still at large, knowingly retained control of funds traced to fraudulent digital transactions carried out on the bank’s platform.

He pleaded not guilty to the charge.

Prosecution counsel, Babatunde Sonoiki, requested a trial date and urged the court to remand the defendant pending the conclusion of proceedings.

The defendant appeared in court without legal representation.

Justice Dada subsequently adjourned the case to May 11, 2026, for trial and ordered that Odekina be remanded in a correctional facility.