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BUSINESS: Globus Bank Loses Customers’ N1.755bn To Hackers After USSD Glitch

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Globus Bank Limited has suffered a heavy blow as hackers withdraw customers’ funds worth N1.755 billion from the financial institution after it suffered a system glitch.

The lender, in an application before a high court in Lagos, explained that the hackers carried out the fraudulent transfers after its USSD channel witnessed a technical issue.

Already, the bank has recovered N817,998,969.85 from the accounts of the fraudsters but cannot take back N962,019,843.35 into accounts domiciled in eight commercial banks in the country.

To make this possible, the management of Globus Bank approached the court to recover the funds, which were part of those taken from 709 customers.

In its affidavit sworn to by its legal officer, Kosisochukwu Ngene, the bank informed the court that the unauthorised electronic transfer of the money was done between Monday, June 6 and Saturday, June 11, 2022.

The lender said after the suspects made the fraudulent withdrawals, it “immediately approached the Magistrate Court in the Yaba Magisterial District and obtained an order directing the banks to freeze and reverse the amount fraudulently transferred into various accounts domiciled in the banks.”

“In response to the order served on the respondents, some of the respondents were able to salvage certain sums wherein the total sum of N817,998,969.85 was returned to the bank while the total sum of N962,019,843.35 is still outstanding and yet to be returned to the bank by the respondents’ banks,” it added.

It, therefore, wants the court to direct “all the eight banks to immediately reverse and remit to, Globus Bank Limited the total sum of N962,019,843.35, being the outstanding sum yet to be salvaged from the fraudulent transfer into several accounts domiciled with the eight Respondents from the Globus bank 709 customers’ accounts, less depleted sum.”

The bank also wants, “An order directing the eight commercial banks to release all account information in respect of the destination accounts and the beneficiaries of the transfer funds.”

Globus Bank Limited is one of the kids on the bloc. It has Mr Peter Amangbo, the former GMD of Zenith Bank, as its chairman, and Mr Elias Igbinakenzua, a former executive director at Zenith Bank and Access Bank, as its chief executive.

The safety of the banking system in Nigeria has been put into question several times.

Recall that in 2018, a 28-year-old medical doctor turned hacker, Mr Michael Williams, claimed that financial institutions operating in the country have a porous online banking system.

“In Nigeria, you can sit and hack any account, but abroad, it is only through the Swiss account because the money is much.

“Nigerian banks don’t have professional hackers to secure them online. They are not secured so I can easily hack into their account.

“When you are online, you can do whatever you want to do. I don’t have an account because you can easily be caught, so I just do credit cards. You get an old credit card,” he told journalists when he was paraded by the police in Lagos.

BIG STORY

JUST IN: Jigawa State Governor Loses 24-Yr-Old Son A Day After Mother’s Demise

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Tragically, just one day after the passing of his mother, Governor Namadi of Jigawa has now lost his 24-year-old son.

A statement from the governor’s spokesperson, Hamisu Gumel, confirmed that the governor’s son sadly lost his life in a road accident on Thursday.

“To Allah belongs that which He has taken, and to Him belongs that which He has given, and everything has an appointed time with Him.”

“With a heavy heart and total submission to the will of Almighty Allah, His Excellency Mallam Umar Namadi, Governor of Jigawa State, announces the passing of yet another member of his family; his dear son Abdulwahab Umar Namadi.

“He departed this world this afternoon (Thursday, December 26th, 2024) as a result of a ghastly motor accident along Dutse-Kafin-Hausa Road. “The burial rite is taking place at this moment in Kafin Hausa town, in accordance with Islamic traditions.

“A 24-year-old, late Abdulwahab is survived by his parents and many siblings. “To Allah belongs that which He has taken, and to Him belongs that which He has given, and everything has an appointed time with Him.”

 

More to come…

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BIG STORY

Sokoto Counters Military, Says 10 Civilians Accidentally Killed In Air Strike

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The Sokoto state government says no fewer than 10 civilians were killed when a military air strike targeted suspected terrorists in Gidan Bisa village, Silame LGA of the state.

Abubakar Bawa, press secretary to Ahmed Aliyu, governor of the state, wrote in a statement issued on Wednesday.

Bawa quoted Abubakar Rana, chairman of Silame LGA, as saying that the incident occurred around 6am on Christmas Day, when two military fighter jets “mistakenly” dropped bombs on the village.

Aliyu, who was accompanied by Aliyu Wamakko, leader of the All Progressives Congress (APC) in the state, and Muhammadu Maigari Dingyadi, minister of labour and employment, attended the funeral prayers for the victims.

Consoling the villagers, the governor described the incident as “unfortunate.”

“The military jets were on their mission to eliminate criminal armed groups terrorising the state and mistakenly bombed innocent people of this community,” he said.

“We consider this a mistake because the same military had on several occasions successfully raided many criminal hideouts in the state.”

Aliyu prayed for Allah’s forgiveness for the deceased and strength for their families.

Muhammad Sifawa, secretary to the state government, announced a relief package of N20 million and 100 bags of assorted foodstuffs for the families of the deceased.

He also assured that the state government would cover the medical bills of the injured.

The military had denied reports of civilian casualties in the bombing.

Reports said air strikes conducted by the air component of Operation Hadarin Daji, targeting the Lakurawa terrorist group, had inadvertently killed civilians in the Gidan Sama and Rumtuwa communities.

However, Abubakar Abdullahi, joint media coordinator for the operation, said the strikes targeted locations confirmed to be linked to the insurgents.

“All military operations are based on thorough intelligence and reconnaissance missions to ensure precision and protect civilian lives,” Abdullahi said.

“The targets struck in the vicinity of Gidan Sama and Rumtuwa were positively identified as associated with the Lakurawa group, reinforcing the justification for the military action.”

Olusola Akinboyewa, spokesperson for the Nigerian Air Force, told TheCable that the missiles were launched following credible intelligence from multiple sources and confirmatory aerial surveillance.

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BIG STORY

Adron Homes Celebrates Christmas With Customers, Reaffirms Commitment To Bridging Nigeria’s Housing Deficit

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As the world embraces the joy and warmth of the Christmas season, Adron Homes and Properties, Nigeria’s foremost real estate company, has extended heartfelt greetings to its esteemed customers while reaffirming its commitment to addressing the nation’s housing challenges.

In a message of gratitude and celebration, Adron Homes expressed deep appreciation to its customers for their trust and loyalty throughout 2024. The company highlighted its unwavering dedication to making incredible housing affordable for all Nigerians, in line with its mission of reducing the country’s housing deficit.

“Christmas is a time to celebrate family, unity, and gratitude,” the statement read. “As we reflect on the year, we are proud to have played a role in making homeownership a reality for thousands of Nigerians. Our vision is clear—to bridge the housing deficit by providing affordable, luxurious, and secure homes for all, regardless of income level.”

Adron Homes has continued to lead the real estate industry by implementing innovative solutions that make homeownership accessible, including flexible payment plans and cost-effective housing models tailored to meet diverse customer needs.

As part of its Christmas and end-of-the-year celebration, the company has launched a special festive promotions ‘Lemon Friday’ aimed at encouraging more Nigerians to join its growing community of homeowners.

“We remain committed to transforming dreams into reality. This is not just about building homes; it’s about building futures and creating opportunities for families to thrive in a space they can call their own,” the statement added.

Adron Homes extended warm wishes to all Nigerians and its global customers, urging them to embrace the season’s spirit of love and hope. “May your homes be filled with peace, joy, and prosperity this Christmas and beyond.”

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