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Man arrested after hacking into bank’s system, stealing KSh 494 million

A Nigerian man has been arrested for reportedly hacking into a bank’s system and made away with over KSh 494 million.

Salau Abdulmalik Femi, 38, was arrested by Special Fraud Unit (SFU) alongside two other men who acted as his partners in the crime.

News reports showed that the suspect used a software to create fake credits worth KSh 494 million and paid into the accounts of the bank’s customers.

SFU spokesperson Eyitayo Johnson said the man made debits as he transferred a total amount of KSh 110.9 million via internet banking.

“The hacker, who displayed exemplary mastery of the cyber environment, was arrested after he hacked into the Flex-Cube Universal Banking System of a first generation bank,” said Johnson in a statement.

Some of the items recovered following the arrest were an Apple laptop and iPhone.


Oladipupo Oluwatobi: This is what happens when intelligence is been ignored, abandoned in an hustle environment. Intelligence will always find a way to experience itself and survive. All still comes down to bad governance, lot of great intellectuals are wasting away in the street. Nigerians are arguably most intelligent Africans but our useless leaders doesn’t see any reason to help young Nigeria’s explore the great abilities that can makes alot of difference. So sad such intelligence can be used in a wrong way

Annas Muhamamad: This is what will always happen when a country have Smarts and intelligent citizens without job

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Chukwuma Ekwulogo: The man and his team should be forgiven, rehabilitated and recruited into CBN and Ministry of finance or ministry of information

Regina Ebi: I wonder how lot of people are busy praising the man who hacked a bank network some saying he should have taught others the method of stealing and defrauding a financial institution well I just want to say may the good lord rescue Nigeria from near future endemic extinction of financial institutions in our country with the use of modern technological

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