LAGOS – The Economic and Financial Crimes Commission (EFCC) has arraigned two bank employees and three other individuals before the Federal High Court in Ikoyi, Lagos, for allegedly conspiring to manipulate a bank’s server and steal customer funds. The planned fraudulent activity, however, was reportedly averted by the Commission.
Kehinde Odeyemi and Matthew Adeniyi Damilola, both identified as employees of Premium Trust Bank, appeared before Justice Alexander Owoeye on Tuesday, May 20, 2025. They were arraigned alongside Samson Latshin Dakup, Bolaji Omotosho Yinka, and Sunday Badeniyi Okunola on a seven-count charge bordering on conspiracy to steal.
According to the EFCC, the defendants allegedly conspired to gain unauthorized access to the bank’s database by manipulating its server and domain credentials with the intent to steal depositors’ funds. While the specific amount targeted was not immediately disclosed, the charges indicate a serious breach of financial security.
All five defendants pleaded not guilty to the charges when they were read in court.
Prosecution counsel, Zeenat B. Atiku, requested a trial date and sought the remand of the defendants in a Correctional Centre. Counsel for the first defendant, Adeleke Adepoju, made an oral application for bail, requesting the most liberal terms, but stated he did not have enough time to file a formal application. Other defense counsel also sought to make oral applications for their clients.
Justice Owoeye, however, refused the oral bail applications and instructed the counsel to file formal bail applications before the court. The judge ordered the first defendant, Kehinde Odeyemi, to be remanded at the Kirikiri Correctional Centre, while the second, third, fourth, and fifth defendants were remanded at the Ikoyi Correctional Centre.
The case has been adjourned until June 30, 2025, for the commencement of trial.
This arraignment comes amidst increased efforts by the EFCC to combat financial crimes within the banking sector. The Commission has recently emphasized the importance of improved Know Your Customer (KYC) protocols and enhanced collaboration with financial institutions to curb such illicit activities. In recent statements, the EFCC has highlighted that a significant percentage of financial crimes in Nigeria are traceable to the banking sector, often involving insider or outsider enablers.
