TWO SENTENCED OVER N8.56BN FRAUD AFTER HACKING WEMA BANK SERVERS

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The Special Offences Court sitting in Ikeja, Lagos, has sentenced two men, Hamza Zakaria and Nurudeen Mohammed Ibrahim, to two years and two months’ imprisonment for their involvement in an ₦8.56 billion cyber fraud case linked to unauthorized access to a bank’s computer systems.

Justice Rahman Oshodi delivered the judgment on Tuesday, November 18, 2025, following the defendants’ change of plea to guilty after amended charges were presented by the Economic and Financial Crimes Commission (EFCC).

Zakaria and Ibrahim were arraigned on May 2, 2025, on a four-count charge bordering on conspiracy, stealing, and unauthorized access to a computer system, contrary to Sections 409 and 331 of the Lagos State Criminal Law, 2011.

According to court documents, the duo and others at large conspired in January 2025 to gain illegal access to Wema Bank’s servers, transferring part of the stolen funds into an account belonging to Exact Group Limited. They were accused of retaining control of ₦24,890,000—part of the total ₦8,568,090,500 illegally taken from various accounts within the bank.

Although they initially pleaded not guilty, both men reversed their plea on November 14, 2025, leading to their conviction.

During the review of facts, EFCC operative Airende Monday testified and submitted multiple exhibits linking the defendants to the cyber intrusion.

In his ruling, Justice Oshodi stated, “I find the defendants guilty in the two-count amended information, and I convict them accordingly.”

He sentenced them to eight months’ imprisonment on the first count and one year and six months on the second count, to run concurrently. The court also provided an option of ₦50,000 fine.

Zakaria and Ibrahim were arrested by EFCC operatives after allegedly hacking into the bank’s network and diverting billions before being tracked and charged to court.

The ruling reinforces ongoing efforts to tackle banking system cyberattacks and financial fraud in the country.