Femi Ashekun/
Two men convicted of hacking into Wema Bank’s computer system and stealing more than N8.56bn are likely to regain their freedom after paying a fine of just N50,000 each, despite their conviction for a multi-billion-naira cyber heist.
Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, sentenced Hamza Zakaria and Nurudeen Mohammed Ibrahim on Tuesday after they changed their plea to guilty to amended charges of conspiracy and unauthorised access to the bank’s computer servers.
The Economic and Financial Crimes Commission (EFCC) told the court that the two defendants, along with others still at large, gained unlawful access to Wema Bank’s digital platforms around January 2025 and diverted funds running into billions into accounts under their control.
One of the transactions detailed in court involved N24.89m transferred into an account linked to Exact Group Limited, allegedly part of the total N8.56bn stolen.
The EFCC tendered several documents as exhibits and called operative Airende Monday as a witness during the review of facts leading to the guilty plea.
Justice Oshodi sentenced the men to eight months on the first count and one year and six months on the second, to run concurrently.
He, however, gave them the option of a N50,000 fine, a condition that means the pair will most likely avoid serving prison terms.
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