Nigerian Man hacks into bank’s system, made away with N1.87 billion

A Nigerian man Identified as Salau Abdulmalik Femi, 38, has been reportedly arrested by police for allegedly hacking into bank’s system and stole about N1. 868bn.

The reports gathered that he used software to create fake credits to the tune of N1,868,900,000 and paid into the accounts of some bank customers.

Eyitayo Johnson who is the spokesman for the SFU revealed that the man went ahead to made debits as he transferred a total amount of N417,542,000 via internet banking.

In his statement, Eyitayo said that Femi is the ringleader of the syndicate whose specialisation is gaining access into the servers of banks and other corporate agencies.

He said the unit while acting swiftly on a petition from the bank; contacted the Central Bank of Nigeria (CBN) and the deposit money banks which customers were beneficiaries of the fraudulent funds and that in the process was able to salvage a substantial amount.

Consequently, the Commissioner of Police in charge of the Unit, CP. Anderson A. Bankole has scheduled a meeting with Chief Compliance Officers/and Head of Technology/Information Security Department of Banks with a view to brainstorm on the loophole exploited by this suspect and how to counter similar hacks; for the benefit of both the Police and the Banking Sector of our economy.”

Some of the items recovered from him are an Apple laptop and iPhone.

According to the police, others connected to the case will be arrested as soon as possible.

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