The Department of State Services (DSS) has arraigned a 32-year-old man, Ogunwobi Philip Ayodeji, before the Federal High Court in Lagos over an alleged cyberattack on MoMo Payment Service Bank Limited, a subsidiary of MTN Nigeria Communications Plc, which reportedly resulted in the diversion of money.

Ayodeji was arraigned before Justice Ambrose Lewis-Allagoa on a five-count charge bordering on conspiracy, unlawful access to the bank’s financial infrastructure, cybercrime and money laundering.

The prosecution alleged that the defendant compromised the bank’s systems between May and August 2026, gaining unauthorised access to critical financial infrastructure.

The prosecutor, Michael Bajela, assisted by J.A. Babalola, told the court that Ayodeji allegedly conspired with an Indian national, Abhicheck Modane, who is currently at large, to access the bank’s systems unlawfully and divert funds into unauthorised digital wallets and other accounts.

The prosecution further alleged that the defendant disrupted the bank’s operations and diverted approximately N340 million belonging to the financial institution.

Ayodeji was also accused of transferring and concealing funds allegedly traced to the cyberattack, as well as knowingly collecting and retaining proceeds of the alleged crime.

The prosecution said the alleged offences contravened provisions of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, and the Money Laundering (Prevention and Prohibition) Act, 2022.

The defendant pleaded not guilty to all five counts.

Following the plea, Bajela asked the court to fix a date for trial and remand the defendant pending the determination of the case.

However, defence counsel informed the court that a bail application had been filed and served on the prosecution.

Bajela confirmed receipt of the application but urged the court to impose conditions that would ensure the defendant’s attendance throughout the trial.

In his ruling, Justice Lewis-Allagoa granted Ayodeji bail in the sum of N500 million, with one surety who must provide landed property valued at the same amount.

The judge directed that the surety must reside within the court’s jurisdiction and ordered the defendant to deposit his international passport with the court’s Deputy Chief Registrar.

He ordered that Ayodeji remain in the custody of the Nigerian Correctional Service pending the fulfilment of the bail conditions.

The court adjourned the case to November 27, 2026, for trial.