The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, says the anti-graft agency has arrested several bank staff members who granted access to local and international hackers, enabling coordinated cyber attacks on Nigerian banks.
Speaking in an interview on TVC News, Olukoyede exposed how “insiders within the banks” collaborate with hackers operating remotely from regions like Eastern Europe and the United States to take control of bank platforms and swiftly transfer billions of naira out of the systems.
“These cyber attacks are sophisticated, involving both local and international actors, often aided by rogue employees who provide critical access,” Olukoyede said. “Once access is granted, external collaborators remotely commandeer bank systems, moving billions within seconds.”
According to Olukoyede, six banks have been targeted in these coordinated attacks.
The EFCC has successfully recovered large sums in three operations, including N9.7bn, N6.7bn, and N3.7bn.
He said the EFCC had arrested key suspects who are cooperating with investigators and assisting in identifying others still at large.
He also urged bank executives to strengthen internal controls and carry out thorough audits to prevent future breaches by insider collaborators.
“We are managing public communication carefully to prevent panic, but rest assured, we are on top of this situation,” Olukoyede assured.
The EFCC chairman further revealed the agency’s ongoing efforts to recover funds from cryptocurrency wallets linked to the notorious CBEX Ponzi scheme.
He said the masterminds—often foreign nationals—exploit credible Nigerians to lend legitimacy to their scams. Funds from victims were moved through complex wallet transfers, sometimes ending up in Eastern Europe and Cambodia. Although some wallets have been frozen, investigations are ongoing.
Olukoyede also addressed a viral video showing Niger Delta chieftain Chief Government Ekpemupolo (aka Tompolo) dancing while N1,000 notes were lavishly sprayed in his presence.
Despite public outcry, Olukoyede stressed that Tompolo had been invited for questioning and reminded Nigerians that “nobody is above the law.”
He urged caution pending forensic analysis, referencing similar cases where individuals were prosecuted for naira abuse.(Punch)
