EFCC Convicts Man for ₦178.2M Sterling Bank Fraud
The EFCC secured a conviction against Ojora Sulaiman Kehinde for defrauding Sterling Bank of ₦178.2 million. Justice Mojisola Dada ordered full restitution of the stolen funds.
Kehinde exploited a temporary glitch in the bank's system to transfer funds exceeding his account balance to his wife's account. While the bank recovered some funds, a significant amount remained unaccounted for.
The prosecution presented evidence of the fraudulent transfers, leading to the conviction. This case highlights the importance of robust cybersecurity measures in financial institutions to prevent such frauds.
Plus234Feed summary based on reporting from NaijaNews. Read the original report below.
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