Nigerian hacks into Ecobank mobile app, withdraws N207 million

A Nigerian man has been arrested for hacking Ecobank mobile application and withdrawing N207 million, though it was claimed that he used charms to carry out the operation.

A 28-year-old suspected fraudster, James Nwagalezi, arraigned before a Lagos Magistrate’s Court yesterday, for allegedly conniving with Okoli Nmesoma, to hack into the mobile app account of Eko Bank Plc and unlawfully withdrew N207 million.

Nwagalezi is facing a four-count charge bordering on felony to wit unlawfully hacking into bank account and stealing, preferred against him by the Police.

Police prosecutor, Inspector Jimoh Joseph, told the court that the defendant and others still at large committed the offence on April 27 at Igboelerin, Okokomaiko, Ojo, Lagos.

He said The management of the bank at its headquarters in Lagos reported the fraud to the Divisional Police Officer, DPO, in charge of Ikoyi Division, SP Tijani Mustapha, who directed a crack team led by Inspector Tope Ijatuyi to fish out the suspects.

He added that “Nwagalezi was arrested after several months of manhunt. His arrest brings the number of suspects arrested and charged to court to six. The Police are still hunting for more suspects involved in the alleged fraud.”

According to the prosecutor, the offences are punishable under Sections 411, 387, 287 and 325 of the Criminal Laws of Lagos State, 2015.

However, Nwagalezi pleaded not guilty to the charge.

Magistrate B. I. Bakare granted him N1 million bail, with two sureties in like sum, one of whom must be a community leader.

He adjourned the case till July 4 and ordered that the defendant be remanded at the Ikoyi Prison, pending when he is able to perfect his bail conditions.