The Economic and Financial Crimes Commission (EFCC) has recovered N114 million traced to the fraudulent hacking of a customer’s account with a microfinance bank and returned the money to the financial institution.
The Acting Zonal Director of the EFCC, Benin Zonal Directorate, Deputy Commander of the EFCC, Sa’ad Hanafi Sa’ad, handed over a draft for the recovered sum to a top official of the bank, Samuel Ikechukwu, on Thursday, October 29, 2026.
Ikechukwu had petitioned the Commission in August 2024, reporting that the account of one of the bank’s customers had been fraudulently hacked and funds moved from it.
Following the petition, EFCC investigators traced the diverted funds to several suspects, including Obumneme Bright, who was subsequently arrested.
The Commission said it recovered N114 million from Bright following his arrest, while investigations continued to track down other suspects connected with the fraud.
The recovered money was subsequently handed over to the microfinance bank through its representative.
Sa’ad Hanafi Sa’ad and Samuel Ikechukwu
