17m depositors money threatened as hackers N.75bn from UBA

Pan African financial institution, United Bank for Africa, UBA, is sailing in troubled waters as scammers and fraudsters have allegedly hacked into the servers of the financial giant stealing a whopping N752 million from the accounts of one of its premium customers, Flour Mills of Nigeria Plc.

According to an auditor with the bank, Ojo Oladimeji, while testifying in a case against an alleged internet fraudster, Ola Lawal, aka Lawal Roland, at the Federal High Court in Lagos, the bank’s server was allegedly hacked and brought down recently.

Ola Lawal, alias Lawal Roland, who is being prosecuted for the alleged hacking of UBA’s server by the Economic and Financial Crimes Commission, (EFCC) and he is standing trial alongside his firm, DCAN Oil and Gas Limited.

Oladimeji added that the hackers moved a total of N752million from the account of Flour Mills Nigeria Limited with the bank and transferred the sum to 20 different accounts with the operation spanning 1o days from June 24 to July 3 2019.

Oladimeji, who was led in evidence by EFCC lawyer, M. K. Hussain, says the fraud was narrowed down to Lawal because N46m out of the N752m was transferred into his account in Union Bank Plc.

The auditor says, “We discovered that the sum of N752m had been fraudulently transferred from one of our customers’ account, Flour Mills Nigeria Limited, to 20 different accounts, which the defendant’s company’s account was a beneficiary. Flour Mills’ account was hacked between June 24 and July 3, 2019, and the total sum of N752m was stolen from it.”

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