A Lagos State High Court has ordered the remand of three employees of Wema Bank Plc along with four other individuals over an alleged fraud involving more than N8.5 billion.
The Economic and Financial Crimes Commission (EFCC) arraigned the seven defendants before Justice Rahman Oshodi at the Special Offences Court in Ikeja on Monday, June 24, 2025. They are facing a four-count amended charge that includes conspiracy, stealing, unlawful access to banking systems, and impersonation.
The accused persons are Samuel Ihechuckwu Asiegbu, Ejim Kingsley Kelechi, Hamzat Zakariya, Onyeimachi Fabian, Achonu Chukwuka Ubaka, Sunday Osademe, and Nurudeen Ibrahim. Three of them are said to be staff of Wema Bank.
According to the EFCC, the offences were allegedly committed in January 2025. The suspects, in collaboration with others still at large, including one Alhaji Sulaiman, reportedly conspired to siphon funds from various accounts held within the bank by gaining unauthorized access to its computer system.
All seven defendants pleaded not guilty to the charges when they were read in court.
The EFCC’s counsel, M.K. Bashir, presented the amended charges, which were dated June 17 and filed on June 19. He informed the court that the fraud involved the sum of N8,568,090,500, which was allegedly diverted for personal use.
Defence lawyers representing the accused included C.T. Ajah, Dr. Benson Enikuomehin, Mohammed Halilu, Mercy Akhobue-Izunovi (on behalf of N. Anoka), Victoria Amiohu, and Sebastian Okeke.
After hearing from all parties, Justice Oshodi ordered that the defendants be remanded at Kirikiri Maximum Correctional Centre. The matter was adjourned to September 15, 2025, for trial to begin.
The EFCC stated that investigations are ongoing and that more individuals may be identified in connection with the case.
This development has raised fresh concerns over internal security within Nigerian banks and the growing sophistication of financial crimes involving both insiders and external collaborators.
