Court remands two men accused of defrauding firm of N622m

A Federal High Court in Lagos has ordered the remand of two men, Daniel Kelechi Ikeoha and Sylvester Ebeta, at the Ikoyi Correctional Centre for allegedly defrauding Interswitch Nigeria Limited of N622 million.

Justice Yellim Bogoro gave the order after both defendants pleaded not guilty to charges of unlawful conversion and possession of proceeds from illegal acts.
The charges, filed by the Police Special Fraud Unit (PSFU) in Ikoyi, Lagos, include allegations of cybercrimes and money laundering under sections of the Cyber Crimes (Prohibition, Prevention, Etc.) Act, 2015, and the Money Laundering (Prevention and Prohibition) Act, 2022.

Prosecution counsel Chief Superintendent of Police (CSP) Justine Enang told the court that between January 2022 and October 2023, Ikeoha, Ebeta, and others at large allegedly manipulated the Interswitch Payment Gateway, causing multiple unauthorised transfers from various bank accounts .

The prosecution detailed that the stolen funds were transferred to multiple accounts, including those at Kuda Microfinance Bank, UBA, Zenith Bank, Eco Bank, GTB, FCMB, and Moniepoint Microfinance Bank.

Defence counsel N.S. Hart argued that the court lacked jurisdiction, stating that the defendants had already been charged in a magistrate’s court, making the present charges an alleged abuse of the court process. Hart also applied for bail on behalf of her clients. However, the prosecution countered that the charges in the magistrate’s court had been withdrawn and that a counter-affidavit had been filed against the bail request.

Justice Bogoro directed that the bail application be heard and adjourned the case to November 14, 2024, ordering that the defendants remain in custody at the Nigerian Correctional Services (NCoS) facility in Ikoyi until then.