Customers Panic as FCMB Loses N3.09 Billion to Hackers 

One of Nigeria’s top commercial banks, First City Monument Bank (FCMB), was recently robbed of a substantial sum of N3.09 billion by suspected hackers. However, one of these suspects, Andrew Odekina, has been arrested and brought before the court by the Economic and Financial Crimes Commission (EFCC) in connection with a major cyber-enabled fraud that resulted in over N3 billion being siphoned from customer accounts. Odekina was arraigned before Mojisola Dada of an Ikeja Special Offences Court in Lagos yesterday.

According to the EFCC, he is accused of keeping proceeds from a large-scale hacking scheme targeting FCMB customers.

Investigators claim that cybercriminals gained unauthorized access to bank systems, allowing them to divert N3.09 billion from various accounts.

Odekina is specifically charged with receiving and holding N9.87 million, part of the stolen amount, in his FCMB account in 2025.

This offence, according to the EFCC, violates provisions of the EFCC (Establishment) Act, 2004.

The charge states that he, along with accomplices still at large, knowingly retained control of funds linked to fraudulent digital transactions on the bank’s platform.

Odekina pleaded not guilty. Prosecutor Babatunde Sonoiki requested a trial date and urged the court to remand the defendant until the case is concluded. Odekina appeared in court without legal representation.

Justice Dada adjourned the case to May 11, 2026, for trial and ordered that Odekina be remanded in a correctional facility.