The prosecutor Morufu Animashaun had earlier informed the judge that the defendants committed the offences between January and December 2025 at the bank’s Lagos branch, located at Plot 27, Admiralty Way, Lekki Phase 1.
Animashaun also told the court that the defendants allegedly conspired among themselves and with others at large to defraud a bank customer, Sanusi Hotel One and Two, whose accounts are numbered 11000233002 and 12000233003.
He further alleged that the defendants transferred N182,302,151.75 from the customer’s accounts into various other accounts by hacking the bank’s system and creating a fake email, sunnatbello@ghotmail.com, which closely resembles the legitimate sunatbello@hotmail.com, to facilitate their scheme.
He further maintained that the offences violated sections 8(a) and 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006, punishable under Section 1(3) of the same Act.
The prosecutor also maintained that the offences contravened Section 390(7) of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria 2004, and Section 13(b)(ii) and (iii) of the Cybercrimes (Prohibition and Prevention) Act, 2015.
However, the defendants pleaded not guilty to the charge.
Based on their pleas, Animashaun urged the court to fix a trial date and remand the defendants into the custody of the Nigerian Correctional Service (NCoS) pending trial.
But the defence lawyers, citing various legal authorities, urged the judge to grant their clients bail since the charge against them are bailable.
The application was opposed by the prosecution for procedural reasons.
In his ruling, Justice Owoeye granted the defendants bail in the sum of N10 million with two sureties in like sum.
The judge also ordered that the sureties must reside within the court’s jurisdiction and provide proof of three years of tax payment.
He also directed that the sureties must submit their NINs, BVNs, and two passport-sized photographs, and are not permitted to leave Lagos State unless granted court permission.
The court then adjourned the case to June 24, 2026, for trial, while the defendants are to remain in the custody of FCID at Alagbon-Ikoyi until bail conditions are fully met.
