E-Financial
Undergraduate, Okadaman in Court for Hacking Into Bank Accounts
A final year student of the Nmandi Azikiwe University (NAU) Akwa is facing charges of forgery, stealing and fraud after he was arrested alongside a tricycle rider for allegedly hacking bank accounts of big companies and diverting millions of naira into personal accounts.
According to the police, the accused belong to a 3-man syndicate allegedly led by a 400 level Environmental Science undergraduate student of NAU identified as Patrick Nwafor who is on the run.
However, before the gang was exposed, they had succeeded in hacking into a law firm’s account with an old generation bank and diverted N8million.
The police arrested the undergraduate identified as Ebuka Orumba a 400 level Computer Engineering part -time student and his accomplice, a tricycle rider one Ator Kalu after the gang had diverted the said amount and attempted to withdraw the money.
The suspects who were charged at an Ikeja Magistrate court by policemen attached to the Special Anti -Robbery Squad Ikeja on a five count charge bordering on forgery, stealing and fraud however said they were lured into the crime by Nwofor.
Narrating their roles in the gang, Orumba in his confessional statement to the police said “Nwofor and I are friends in school. Nwofor sold the idea to me and he told me to recruit Ator. Nwofor is the brain behind the hacking. I acted as a facilitator. I don’t know much about the hacking stuff”
Narrating his role in the gang, the tricycle rider, Kalu, said “I know Orumba from Anambra. We are childhood friends from the same village. One fateful day, I had issues with my tricycle and I needed money to fix it.
I went to Orumba to help me with money but he told me that he can give me a job to help me with my problem.
Orumba took me to the licensing office at Ojodu Berger Office where he helped me to obtain a fake driver’s licence with the name Engineer Asukwo John Okoro. He gave me N2, 500 to open an account 2O86943174 with Zenith Bank.
Orumba told me that Nwofor will be paying some money into the account. After a while, Orumba told me to go to the bank and check that some money has been deposited in the account.
I went to the bank at Mushin to check but when I asked the branch manager, he told me that N3million was in the account.
I screamed as I had never expected such huge amount. I was trying to inform Orumba about the money but the bank manager told me that network was slow and I could not withdraw the money.
He told me to wait a while but to my shock, the branch manager was suspicious and he handed me over to the security in the bank. I was arrested and our gang was exposed”
According to police investigation, the gang allegedly hacked into the account of the law firm Simmons Cooper Partners and diverted N8million which they moved into three different accounts with fake identities and documents.
The police investigations further shows that the gang opened the accounts with the name Chief Ndumanya Raphael where they diverted N3million into an Access Bank account number 0047148640.
They allegedly diverted N2million into a GTBank account number 0164661104 with the false name Barrister Tochukwu Gospel Okika and another N3million was diverted into a Zenith Bank account 2086943174 with the name Bar. Asoquo John Okoro.
The charge sheet read, Count one reads “That you Ator Kalu,Ebuka Orumba and others at large on the 7th day of July,2015 at about 11.30hrs at Zenith Bank Plc Mushin branch Lagos in the Lagos Magisterial district did conspire together to commit felony to wit forgery and thereby committed an offence punishable under section 409 of the Criminal Law of Lagos State 2011.
Count two reads: That you Ator Kalu, Ebuka Orumba and others at large on the same date,time and place in the Lagos Magisterial district did forge payment instruction mail in the name of Bidemi Oseni of Simmons Cooper Partners, addressed to the head Customer Service Unit UBA plc for the sum of Eight Million naira (N8million) and thereby committed an offence punishable under section 363(3)(h) of the criminal law of Lagos State 2011.
Count three reads: that you Artor Kalu, Ebuka Orumba and others at large on the same date, time and place in the aforesaid magisterial district did steal the sum of three million naira (N3,000,000.00) by causing the said amount to be fraudulently transferred from the account of Simmonscooper partners in a Zenith Bank account No. 2086943174 with false name Engr. Asukwo Okoro John and thereby committed an offence punishable under Section 285 of the Criminal Law of Lagos State 2011.
Count four read: that you Artor Kalu, Orumba and others now at large in the month of May 2015 at Ogba Lagos in the afore said Magisterial District did forge Nigeria Drivers license bearing the name of Asukwu John Okoro but with the photograph of Ator Kalu and thereby committed an offence punishable under section 363(2)(b) of the criminal Law of Lagos State 2011.
Count five reads: that you Artor Kalu sometime in the month of May,2015 at Zenith Bank Plc Mushin Branch Lagos in the aforesaid Magisterial District with intent to defraud did open an account with number 2086943174 with false documents bearing the name of Engr. Asukwo Okoro John and thereby committed an offence punishable under Section 363 of the criminal law of Lagos State 2011.
The accused who were arraigned on September 2nd however pleaded not guilty to all the charges.
The magistrate Mrs. O.O Olanipekun granted the accused bail in the sum of N250,000 each and remanded them in prison custody.
When people and businesses gain genuine access to financial services, they gain the ability to transact securely, build savings, and access credit. That access creates the conditions for progress: more stable revenues, better business decisions, and the capacity to grow. Progress, sustained over time, is what produces financial happiness. This framework is how Moniepoint measures its impact.
According to Moniepoint 2025 Impact Report, titled creating financial happiness; “Financial happiness is the feeling of confidence and ease that comes with financial freedom and well-being. It is a condition that develops over time and requires a specific set of enablers to take hold.
For millions of people and businesses across Nigeria, those enablers, like tools and solutions to manage their finances, have historically been out of reach. Moniepoint was built to change that, and this change, for us, begins with inclusion”.
Across the world, access to digital tools is a key driver of financial inclusion. The World Bank’s Global Findex 2025 report finds that more than 60% of adults in low- and middle income economies now make or receive digital payments. In Nigeria, this figure is around 54%. Moniepoint has been a key driver in expanding this access with its POS terminals. “Our terminals also drive financial inclusion for individuals.
The report stated that, in 2025, Moniepoint enabled 100 million people to make payments via their POS terminals across the country. For customers in communities where bank branches are scarce or non-existent, a Moniepoint terminal at their local shop, market stall, or fuel station provides reliable access to digital financial services.
They can make purchases, withdraw cash, and manage their money without travelling long distances or depending solely on physical currency. Critically, customers without cards can complete transactions through direct bank transfers to the terminal’s account.
Beyond practical benefits, Moniepoint terminals have also introduced a new layer of trust to everyday commerce. “When network issues make it unclear if a payment went through, the Moniepoint terminal’s loud beep provides instant confirmation for everyone, building trust in digital payments with every transaction”.
Moniepoint POS terminals operate across all 774 local governments in Nigeria, ensuring that small sellers and large stores can accept payments reliably, regardless of location.
In 2025, millions of Nigerians, businesses and individuals alike, accessed Moniepoint services through its mobile app. Top among them are groups like women and low-income earners, who have historically been excluded from formal banking. Inclusion of women is particularly important, as they typically manage household spending and informal savings but are frequently left out of structured financial systems. “Through our app, they are gaining financial independence and greater control over their economic decisions,” the report added.
For millions of Nigerians, debit cards represent a move away from the limits of cash transactions. They enable safer, more reliable everyday payments, particularly as more local businesses begin to accept digital payments.
Moniepoint debit cards are designed to meet this need. In 2025, Moniepoint customers completed over 300 million card transactions at physical locations, largely driven by essential, food-related purchases. Most of this spending took place at neighbourhood provision shops where households buy everyday items such as rice, cooking oil, and soap.
“We’ve made access to our cards intentionally simple. Customers can get a Moniepoint debit card by requesting it within their mobile app or from neighbourhood agents, without lengthy paperwork or waiting periods. By lowering these barriers, more people are able to access financial tools and participate in the formal financial system.
“Our cards also safeguard our customers’ financial information. They don’t carry special markings or any identifiers that could expose our customers or put their financial security at risk. In the event of loss, this reduces the likelihood of targeted fraud or misuse.
“When people can pay with their debit cards at their neighbourhood stores, they can manage their spending, reduce cash handling, and transact more securely. Merchants also benefit, recording higher transaction volumes and more consistent customer activity.
“Moniepoint helps millions of businesses and individuals across Nigeria access seamless payments and banking, every day. The widespread adoption of our tools and services, as highlighted, demonstrates our critical role in expanding financial access, supporting everyday commerce, and enabling more Nigerians to participate safely and consistently in the digital economy,” the report noted.
ChatPay has launched Africa’s conversational banking platform, enabling individuals and businesses to access financial services through WhatsApp.
The Lagos-based fintech startup, is in controlled rollout, connecting WhatsApp to linked-bank management, airtime and supported electricity payments through simple conversations.
The company said the platform is designed to enable users to send money, pay bills, buy airtime and manage business transactions within WhatsApp conversations, subject to the completion of regulatory approvals and integration with licensed banking partners.
According to ChatPay, the platform is operated by CP Technology Limited and is currently undergoing a phased rollout ahead of its planned public launch.
The company said the initiative is intended to simplify access to financial services by leveraging WhatsApp, which it estimates is used by more than 50 million Nigerians monthly.
Speaking on the idea behind the platform, Adeoluwasubomi Odebunmi, product lead and co-founder, said the concept emerged while she was studying Software Engineering at Babcock University.
“I saw the gap while I was still in school—how much friction there was just to move money. I didn’t want to just study the problem. I wanted to help fix it,” she said.
Odebunmi said she had previously worked on software solutions spanning e-commerce, real estate management, school administration and artificial intelligence applications before co-founding ChatPay.
Aseoluwa Siyanbola, growth lead and co-founder, said his experience managing Nigerian bank accounts while studying abroad highlighted some of the challenges users face with digital banking services.
According to him, difficulties such as one-time password (OTP) failures and inconsistent banking applications inspired the team to explore conversational banking solutions.
“We each encountered similar challenges and came together to build a solution that simplifies everyday financial transactions,” he said.
cAbraham William, tech lead and co-founder, said the company is focused on improving access to financial services through a platform that many Nigerians already use daily.
“We want to make financial services easier to access by allowing people to carry out transactions through a familiar messaging platform,” he said.
William said he oversees the company’s engineering, technology strategy and system architecture.
ChatPay said its services will be introduced in phases as regulatory requirements are met and integrations with banking partners are completed.
The company added that its newly launched “Founding 2,500” programme will enable selected early users to test features, provide feedback and participate in product development before the platform’s wider rollout.
According to the company, interested users can register for the waitlist and the Founding 2,500 programme through its website.
Founded by Odebunmi, Siyanbola and William, ChatPay said its long-term goal is to expand conversational banking services beyond Nigeria into other African markets after its domestic rollout.
United Bank for Africa (UBA) Plc has been named Nigeria’s Best Bank for Retail Banking and Best Bank for Sustainability Leadership (ESG) at the 2026 Euromoney Awards for Excellence, reinforcing its position as one of Africa’s leading financial institutions.
The awards were presented on July 17 at The Peninsula London in the United Kingdom, recognising financial institutions that have demonstrated outstanding performance, innovation, customer impact and sustainable banking practices.
The double recognition highlights UBA’s growing influence in retail banking and its commitment to advancing environmental, social and governance (ESG) principles across its operations.
According to Euromoney, UBA distinguished itself through a series of sustainability initiatives, including the introduction of a Green Financing Facility designed to support households and businesses transitioning to renewable energy.
The publication also cited the bank’s ₦5 billion financing programme, implemented in partnership with the Bank of Industry (BOI), to provide funding for women-owned businesses.
Euromoney further recognised UBA’s commitment to achieving net-zero carbon emissions by 2050, describing it as a demonstration of the bank’s long-term sustainability strategy.
The publication also highlighted the bank’s efforts to integrate sustainability into its operations through the deployment of solar-powered energy solutions across 50 branches and comprehensive ESG capacity-building programmes that have trained more than 16,000 employees across the UBA Group.
In the retail banking category, Euromoney noted that UBA continued to consolidate its position as one of Africa’s largest retail banking institutions.
According to the publication, the bank expanded its customer base to more than 37 million by the end of 2025, while retail banking revenue increased more than fourfold to ₦429.5 billion.
The awards also recognised UBA’s continued investment in digital banking innovation, particularly enhancements to its artificial intelligence-powered chatbot, LEO.
Euromoney noted that LEO became Africa’s first AI-powered banking platform to facilitate cross-border money transfers in local currencies through the Pan-African Payment and Settlement System (PAPSS).
Commenting on the awards, UBA’s Group Managing Director and Chief Executive Officer, Mr Oliver Alawuba, described the recognition as a validation of the bank’s commitment to delivering value to customers while promoting sustainable development across Africa.
“To be recognised as Nigeria’s Best Bank for both ESG and Retail Banking in the same year sends a powerful message that sustainable banking and commercial success are mutually reinforcing.
“At UBA, we are committed to financing Africa’s future, supporting businesses and communities, promoting financial inclusion, and delivering innovative banking solutions that improve lives.
“These awards belong to our customers for their confidence in us and to every member of the UBA family whose dedication continues to make our vision a reality,” he said.
Also speaking, UBA’s Group Head, Marketing, Brand and Corporate Communications, Mrs Alero Ladipo, said the awards reflected the bank’s unwavering commitment to putting customers at the centre of its operations.
According to her, every innovation, investment and banking solution introduced by UBA is aimed at creating exceptional value for customers while expanding access to financial services.
“These awards are a powerful affirmation of our Customer First philosophy.
“Whether it is supporting entrepreneurs with access to finance, enabling seamless digital payments, advancing clean energy financing or expanding financial inclusion across Africa, UBA remains focused on delivering meaningful impact.
“We are honoured that one of the world’s most respected financial publications has recognised these efforts,” she said.
UBA currently operates in 20 African countries, as well as the United Kingdom, United States, France and the United Arab Emirates, serving more than 45 million customers through a combination of digital banking platforms and physical branch networks.
The bank said it remains committed to strengthening financial inclusion, driving innovation and supporting sustainable economic development across Africa and beyond.
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