The Federal High Court in Abuja has issued an order to extend the freeze on 818 bank accounts suspected of receiving funds from a N10 billion cyberattack on Hope Payment Service Bank. Justice James Omotosho granted the additional 30-day freeze at the request of the Inspector General of Police, who had filed a motion ex parte to support the ongoing investigation into these accounts. According to court records, the motion, marked FHC/ABJ/CS/1358/2024, names Jarnes Akagwu Isaac, Akwubo Gosent, Shirsha Paul Terver, and 815 other individuals, as well as several banks, as respondents.
An affidavit from Muhammed Idris, a member of the Nigeria Police Force at Force Headquarters in Abuja, revealed that the IGP’s office received a petition from Hope Bank’s Managing Director. The petition alleged fraudulent activity, including criminal diversion and fund conversion, against one of the defendants. The affidavit detailed the financial impact of the alleged cyberattack, reporting that Hope Bank had lost N10 billion, transferred across various accounts of the 818 respondents in an effort to siphon off what the affidavit termed as “proceeds of crime.”
The investigation uncovered that funds were systematically moved through the bank accounts of the defendants. This prompted the initial freezing order, which lasted 14 days, allowing authorities to alert various financial institutions and impose freezes on accounts as evidence of illicit fund transfers emerged. However, some institutions had not yet complied, necessitating the extension of the freeze order to ensure full cooperation and facilitate further inquiry into the case.
Earlier reports in July indicated that Hope Payment Service Bank had detected and countered a cyberattack attempt, averting significant financial losses. While billions of naira were safeguarded, the recent court order underlines the seriousness of the incident and reinforces ongoing efforts to recover funds and hold involved parties accountable.
- Tags: Bank account freeze, Cyber attack, Hope Bank, Nigeria
