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France-Based Nigerian Travels To Lagos, Leads Cyber-Attacks On 10 Banks

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The Police Special Fraud Unit (PSFU) in Lagos State on Wednesday said it arrested three suspects for allegedly attempting cyberattacks on 10 banks in the state.

SP Eyitayo Johnson, the spokesperson for the unit, in a statement, said the Commissioner of Police, PSFU, Nneka Anyasinti, while acting on intelligence received from a leading new generation bank, on March 30, 2022, arrested the suspects.

Johnson said the suspects were in the final stages of recruiting a worker from the information and technology department of one of the banks in order to perfect the hacking of the banks’ network/posting application with the intent to pull out huge sums of money.

He noted that the suspects were arrested with incriminating exhibits during a meeting held with the bank worker they attempted to recruit, adding that the fourth suspect, Chibuzor Holland, who flew into the country from France specifically for the operation, escaped.

He said, “The arrested members of the syndicate include Kehinde Oladimeji, 52, the mastermind; Olanrewaju Adeshina, 47; and Kolapo Abiodun, 42. Kolapo Abiodun is an ex-staff of the bank attached to the infotech department. He contacted and attempted to recruit a current worker of the bank’s infotech department with an offer of N200m and a visa out of Nigeria.

“The worker was asked to leave critical gateways open on the bank’s server for the syndicate to gain unauthorized access into the network and move money out using Python application and Zoom. After the arrests, forensic analysis of phones and electronic devices found in their possession disclosed a list of 10 other banks already earmarked to be hacked using a similar method once the first attack is successful.

“Operatives also discovered personal and corporate bank account details in the possession of the syndicate which they ought not to have. The case, charge no. FHC/L/238C/2022, is currently being prosecuted before Honourable Justice P.O. Lifu of the Federal High Court, Lagos Judicial Division, while effort is in top gear to apprehend Chibuzor Holland.”

In a related development, the police unit confirmed the arrest of the Managing Director of Beedel Strategic Investment Co. Nigeria Limited, Moses Odeleye, over a fraud of N816m.

The PSFU spokesperson, Johnson, said a discrete investigation by the unit’s operatives led to Odeleye’s arrest on May 24, 2022.

He noted that Odeleye was arrested in connection with the forgery of 11 local purchase orders of five multinational companies operating in Nigeria and one agency of the Federal Government.

Johnson stated that the suspect (Odeleye) paraded himself on social media as a successful contractor with an interest in civil engineering, construction, real estate and supply, and importation of heavy engineering equipment.

He said, “Beedel (Odeleye), as the suspect is popularly known, operates in connivance with former and current procurement staff of the companies whose LPOs were used to perpetuate the fraud.

“He forged the LPOs of these companies/government agencies and approached numerous banks and investment companies with proposals to finance the LPOs, which he cleverly tenured to be paid between 30 and 60 days so as to make the LPO financing appear juicy.

“The suspect, using this modus operandi, was able to fraudulently obtain the sum of N816m from two finance companies and diverted same to fund extravagant lifestyles, which includes building a mansion, office complex, and purchase of exotic automobiles.

“Investigation revealed that for over eight years, Beedel mastered the art of using cloned LPOs to consecutively secure huge sums via LPO financing from different banks/finance companies, while using monies from one bank/finance company to settle his commitments to another bank/finance company, to maintain the fraudulent cycle of robbing Peter to pay Paul.

“Beedel circumvented due diligence done by some of the banks/finance companies with the inputs of procurement staff of the companies whose LPOs were forged. These procurement staff conspired with the suspect to confirm invalid LPOs to third parties. The suspect will be charged to court as soon as the investigation is concluded.”

Meanwhile, Johnson said on April 15, 2022, the police unit was alerted to the risk and possible hack of the server of a non-interest financial institution located in Lagos State.

He said an investigation by operatives attached to the Banking and Informal Financial Fraud Section of the PSFU revealed that between 3.45 am and 4.55 am on March 9, 2022, there was an unauthorized modification of the profile of certain key staffers of the bank, which was done remotely.

“Investigation is ongoing to identify the persons responsible for the hack, while some of the staff initially alleged, have been exonerated,” he added.

BIG STORY

As WAFCON Kicks Off Today, The Falcons Of Nigeria Will Win Their 10th Title — By Seun Oloketuyi

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The energy in Morocco is electric. From the bustling streets of Rabat to the buzzing stadium corridors in Casablanca, a continental celebration of football has begun. The 2024 Women’s Africa Cup of Nations, delayed until 2025, kicks off today — and as the anthem rings out to open the tournament, one team walks into the spotlight with more than just ambition. The Super Falcons of Nigeria are here to reclaim what they’ve long considered theirs: the WAFCON crown.

Nine-time champions, decorated with decades of dominance, Nigeria’s women’s team has been the pride of African football. But this time, there’s something different. It’s not just about titles or rankings. It’s about redemption. Two years ago, the Falcons fell short, narrowly edged out of the final by host nation Morocco and forced to watch South Africa take the throne. That sting hasn’t faded — it’s fuel.

The players know what’s at stake. Asisat Oshoala, now playing for Bay FC in the U.S. after an illustrious run with Barcelona, returns with fire in her eyes and form in her boots. Alongside her, a younger generation is rising — bold, unshaken, hungry. In training, the tempo has been sharp. In their voices, confidence. In their hearts, belief,She is expected to inspire the younger generation lead by the team Captain Rasheedat and the new blood of Alozie,Ashley,Esther and Toni Payne plus Ayinde a lot is expected.

Now led by new head coach Justine Madugu, following the departure of Randy Waldrum, the Falcons are embracing a refreshed style of play — blending tactical discipline with expressive, fearless attacking football. Madugu has not only brought structure but also instilled belief, trust, and a renewed fighting spirit,Many including me are still stunned Monday Gift is not in this team but yet we are behind them.

The road won’t be easy. Morocco is loud and proud on home soil. South Africa still glows from their 2022 triumph. Zambia arrives with momentum. But even in the shadows of rising stars, Nigeria still stands tallest. When the Super Falcons walk out tomorrow against Tunisia for their opening match, they’ll carry more than just jerseys on their backs. They’ll carry history. Legacy. And expectation.

This is a team that has shaped the narrative of African women’s football for decades. Their dominance isn’t luck. It’s culture. Discipline. Passion. Every touch of the ball, every sprint, every tackle will be driven by the memory of past glories — and the desire to write a new chapter.

As the tournament kicks off today, the message from Nigeria is clear: the Falcons are flying again. Not with arrogance, but with assurance. And by the time the final whistle blows in Rabat on July 26, they believe they’ll be right where they belong — lifting the trophy for a record 10th time.

Africa is watching. Nigeria is ready.

I Totally believe Falcons will come home with the 10th Wafcon

  • Seun Oloketuyi the producer of Flying with the Falcons

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BIG STORY

“Adron Homes Made My Dream Come True” — New Homeowner Shares Inspiring Testimony

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For many Nigerians, the dream of owning a home often feels out of reach, clouded by financial limitations, uncertainty, and broken promises. But for Engr. & Mrs. Taiwo Ademola, that dream has become a beautiful reality, made possible by Adron Homes.

Speaking proudly from the comfort of his newly completed home in one of Adron’s thriving estates in Shimawa, Ogun State, Engr. Ademola shared his joy and fulfillment at finally becoming a landlord.

“When I thought about owning a home, it felt like a far-off dream,” he recalled. “But Adron Homes changed everything. Their flexible installment plan gave me the confidence to start. Today, I stand here as a proud homeowner. For anyone still doubting, Adron Homes is real, and they are here to stay.”

The Ademolas’ new home, now dedicated and celebrated, is a symbol of stability, dignity, and the fulfillment of a long-held dream. Their success story is a powerful reminder of Adron Homes’ mission to make quality, affordable housing accessible to every hardworking Nigerian, regardless of financial background.

In his congratulatory message to the family, Sir Aare Adetola EmmanuelKing, Chairman/CEO of Adron Group, expressed his delight at yet another fulfilled homeowner.

“At Adron Homes, our vision has always been to make home ownership possible for every Nigerian, and I am glad we are living up to this vision” he stated. “Every key we hand over is a step towards fulfilling that vision”.

He welcomed them into the family, describing this feat as the foundation of new beginnings and joyful memories.

Adron Homes has become synonymous with reliability, integrity, and innovation in Nigeria’s real estate sector. With flourishing estates across Shimawa, Lagos, Abuja, Nasarawa, Epe, Badagry, and beyond, the company continues to redefine affordable luxury and accessible home ownership nationwide.

As more Nigerians like the Ademolas proudly unlock the doors to their dream homes, one truth remains undeniable, with Adron Homes, dreams are not just imagined; they are built, one family, one house, one community at a time.

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BIG STORY

UBA, Wema, GTB Resume International Transactions On Naira Cards After Years Of Suspension

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Three commercial banks in Nigeria have revealed the recommencement of international transactions on their naira cards. In separate messages to customers, the United Bank of Africa (UBA), Wema Bank, and Guaranty Trust Bank (GTB) confirmed that the service is back on their naira cards. This change comes about three years after several banks halted international transactions on naira debit cards.

In a recent notice to customers, UBA stated the resumption is part of its ongoing commitment to delivering seamless and improved banking experiences. “In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants are now enabled for international transactions,” the message read. “This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility. If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”

In its own statement, Wema Bank informed customers they could now “pay in dollars” using their naira cards. “Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” the bank noted.

In an email to customers, GTB explained that users can spend up to one thousand dollars every quarter with its naira card worldwide. “We are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world,” it said. “Withdrawals at ATMs Abroad: $500 quarterly. Online and POS Transactions: $1,000 quarterly. Kindly note that the quarterly limit of $1,000 covers all transactions including ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria, and more.”

WHY BANKS ARE MAKING THE SHIFT

Ayokunle Olubunmi, head of financial institutions ratings at Agusto & Co, explained that the improved liquidity in the foreign exchange (FX) market encouraged banks to restart global transactions with their naira cards. “The moderating premium on the parallel market transactions and the reduced arbitrage opportunities is also responsible for the decision,” he said.

Charles Sanni, chief executive officer of Cowry Treasurers, told TheCable that the smaller spread between the official and parallel market rates likely influenced the move. He added that interest rates are very high in Nigeria, which discourages borrowing to speculate on foreign exchange. “The naira has also continued to appreciate against the other major currencies of the world. More so, there has been increased diaspora remittances based on the new policy of the Central Bank of Nigeria (CBN) on opening of accounts for non-residents, particularly Nigerians in diaspora,” he explained.

Sanni also pointed to renewed confidence in FX management by the federal government and the CBN, noting improvements in fund transfers and capital repatriation. He mentioned that factors such as an improved credit rating for Nigeria, the clearance of FX backlogs, a “new trading platform, increase in oil prices from geopolitical conflicts, and banks capitalisation” also played a role.

Between July 2022 and January 2023, several other banks had also temporarily stopped international transactions on ATMs and POS channels. The pause was due to severe FX scarcity, which posed a risk to vital sectors of the economy.

In July, Standard Chartered Bank halted international transactions on its naira visa debit card. First Bank of Nigeria (FBN), on September 21, 2022, announced it would stop international transactions on its naira Mastercard. Three months later, Guaranty Trust Bank (GTBank) suspended global payments on its naira Mastercard, and Zenith Bank followed suit on January 9, 2023.

Flutterwave, Eversend, and other fintech platforms also suspended their virtual card services for international transactions.

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