The Economic and Financial Crimes Commission has apprehended four individuals allegedly involved in unauthorized access to bank computer systems and fraudulent withdrawals of depositor funds.
The suspects, who reportedly operated as a syndicate, were detained following a covert operation conducted in Abuja based on intelligence reports.
Among those arrested is the alleged mastermind, Chima Nwigwe, along with Effiong Emmanuel, Damian Ali, and Mohammed Mahmud, who serves as the Managing Director of Downstone Ultimate Limited.
The EFCC spokesperson, Dele Oyewale, confirmed the arrests in a statement issued on Tuesday, emphasizing the severity of the accusations.
He said, “The Economic and Financial Crimes Commission, EFCC, has arrested Chima Anthony Nwigwe, suspected leader of banks’ hacking syndicate alongside three others: Effiong Victor Emmanuel, Mohammed Bello Mahmud, managing director, Downstone Ultimate Limited and Damian Ali for alleged conspiracy, unauthorized access to banks’ computer systems and fraudulent withdrawal of depositors’ funds.”
The statement further detailed that these suspects orchestrated unauthorized access to several commercial bank databases, facilitating illicit transfers and withdrawals across various digital banking platforms.
Oyewale stated, “They were arrested in a sting operation in Abuja following actionable intelligence about their suspected involvement in hacking, compromising databases of commercial banks, thereby causing fraudulent transfers and withdrawals through different digital platforms.”
With investigations still underway, the EFCC has assured the public that the suspects will face charges in court once all inquiries are complete.
The arrests highlight the increasing focus of the EFCC on tackling cybercrime, particularly within the financial sector, as part of its broader commitment to safeguarding the banking system against such threats.
