Every second brings Nigerians closer to exercising their democratic right and shaping the future of our nation.
Exercise your democratic right responsibly, peacefully and lawfully.
The Nigeria Police Force National Cybercrime Centre has uncovered an alleged international cyber-fraud operation involving the diversion of about 6.174 Billion Naira from the treasury collection accounts of a financial institution. Two Indian nationals linked to the investigation have been arrested, while police say efforts are ongoing to locate the alleged mastermind.
Investigators said the suspected fraud occurred after a vulnerability emerged during the financial institution’s migration from one digital banking application interface to another. Police traced 761 unauthorised transactions involving the disputed funds to 105 beneficiary accounts across 19 commercial banks.
The Assistant Inspector-General of Police in charge of the cybercrime centre, Akaninyene Ezima, said the alleged syndicate also attempted to divert a much larger amount before the transaction was stopped. He said investigators are examining how the funds were moved through apparently legitimate business transactions and are working to trace possible proceeds of the alleged fraud.
Police identified Sandy Agawala, a managing director of a company linked to the investigation, as a person of interest and principal suspect. Authorities said he is believed to have left Nigeria, with legal procedures reportedly being pursued to secure his arrest, while the two Indian nationals in custody are assisting investigators.
The case has been taken to court as forensic investigators continue efforts to trace the movement of the funds and identify assets that may be connected to the alleged crime. The police said the investigation forms part of broader efforts to tackle increasingly sophisticated cyber-enabled financial offences in Nigeria.
