• About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, July 1, 2025
  • Login
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
Advertisement
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
No Result
View All Result
Home Business

Panic as hackers steal ₦‎9.3bn customer funds from Union Bank

Ezechukwu Malachy by Ezechukwu Malachy
April 30, 2025
in Business
0
Panic as hackers steal ₦‎9.3bn customer funds from Union Bank
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Union Bank of Nigeria Plc is scrambling to recover a staggering N9.3 billion stolen from customers’ accounts in a sophisticated fraud linked to a major system breach.

The incident, which occurred on March 23, 2025, has triggered a legal battle as the bank races to freeze accounts suspected of receiving the illicit funds.

Court documents have revealed that Union Bank detected unauthorized transfers from multiple customer accounts, with the stolen money funneled into 54 different financial institutions.

The bank quickly filed a lawsuit (FHC/L/CS/629/2025) at the Federal High Court in Lagos, seeking an emergency order to block further withdrawals from the implicated accounts.

In a sworn affidavit, Oluwasegun Falola, Union Bank’s Head of E-Fraud Investigations, confirmed that the fraudsters exploited a critical system glitch, siphoning funds in small, deliberate transactions to avoid detection.

“The money was moved in trickles across numerous accounts, making it difficult to immediately trace,” Falola stated.

Bank Takes Legal Action

Union Bank’s legal team, led by A. Adedoyin-Adeniyi, informed the court on April 2, 2025, that the stolen funds were still being actively transferred, suggesting an ongoing laundering operation.

“N9.3 billion has already been moved, and the perpetrators are still shifting money into new accounts,” Adedoyin-Adeniyi told Justice Deinde Dipeolu.

The judge granted the bank’s request for a Post No Debit (PND) order, freezing all accounts linked to the fraud pending further investigation.

Union Bank’s legal team, led by A. Adedoyin-Adeniyi, informed the court on April 2, 2025, that the stolen funds were still being actively transferred, suggesting an ongoing laundering operation.

“N9.3 billion has already been moved, and the perpetrators are still shifting money into new accounts,” Adedoyin-Adeniyi told Justice Deinde Dipeolu.

The judge granted the bank’s request for a Post No Debit (PND) order, freezing all accounts linked to the fraud pending further investigation.

A Recurring Challenge for Union Bank

This scandal comes just 15 months after the Central Bank of Nigeria (CBN) dissolved Union Bank’s former board and management over alleged governance failures.

The current leadership, led by MD Yetunde Oni, now faces intense scrutiny as customers demand answers.

Previous Post

I regret running with Atiku in 2023 presidential election – Ex-Gov. Okowa

Next Post

Police dismantle criminal den in Anambra

Next Post
Police dismantle criminal den in Anambra

Police dismantle criminal den in Anambra

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

https://youtu.be/FHyJ1Wr0FAk?si=0WVYI_2OR4OrIrQ4
https://youtu.be/gbE3azm_Io0?si=GdE3Mqelo1ujTNla
How PDP govs, BoT resolved impasse
Cover

How PDP govs, BoT resolved impasse

by Our Reporters
July 1, 2025
0

The crisis rocking the Peoples Democratic Party (PDP) appeared to ease on Monday after leaders at the party’s 100th National...

Read moreDetails
I will be on the ballot in 2027, says Obi

I will be on the ballot in 2027, says Obi

June 30, 2025
SDP warns against dealing with suspended Chairman, Auditor, Youth Leader

SDP warns against dealing with suspended Chairman, Auditor, Youth Leader

June 30, 2025
Suspected herdsmen, military exchange gunfire near Benue IDP camp 

Suspected herdsmen, military exchange gunfire near Benue IDP camp 

June 30, 2025
Court orders 54 banks to return N9.3bn stolen from customers accounts

Go to the first-class hospital you commissioned in Kogi, EFCC prosecutor tell Yahaya Bello 

June 30, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Homepage

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng