Key points
- The EFCC has arraigned Gideon Bakpa Aghogho and Oscar Ebere Chukwuebuka over the alleged unlawful supply of access credentials to First City Monument Bank’s systems.
- The defendants were arraigned before the Federal High Court in Ikoyi, Lagos, on an eight-count charge.
- The prosecution alleged that bank access credentials were supplied for $15,000.
- Aghogho pleaded not guilty, while Chukwuebuka pleaded guilty to the charges.
- A third suspect, identified as Scott, remains at large.
- The court adjourned the matter until August 27, 2026, for review of facts and further proceedings.
Main Story
The Economic and Financial Crimes Commission (EFCC) has arraigned two men, Gideon Bakpa Aghogho and Oscar Ebere Chukwuebuka, before the Federal High Court sitting in Ikoyi, Lagos, over the alleged unlawful supply of First City Monument Bank (FCMB) access credentials in exchange for $15,000.
The defendants were arraigned by the Lagos Zonal Directorate 1 of the EFCC before Justice F.N. Ogazi on Wednesday on an eight-count charge bordering on conspiracy and the alleged unlawful supply of access credentials to a bank database.
The Commission said the alleged offences contravened Sections 27 and 28(1)(b) of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015, as amended in 2024.
According to the prosecution, Aghogho, Chukwuebuka and another suspect identified as Scott, who is currently at large, allegedly conspired between July 24 and 26, 2026, in Lagos, to supply Aghogho’s access code to the FCMB system through a local administrative credential capable of providing access to the bank’s Virtual Center Platform.
Another count accused Aghogho of knowingly and without authority disclosing access credentials, including the bank’s server IP and domain credentials, for the purpose of gaining access to FCMB’s database in exchange for $15,000.
When the charges were read to them, Aghogho pleaded not guilty, while Chukwuebuka pleaded guilty. Following Aghogho’s plea, EFCC counsel Bilkisu Buhari asked the court to fix a date for trial and ordered that the defendant be remanded in a correctional facility.
In respect of Chukwuebuka, the prosecution requested a review of the facts following his guilty plea. Justice Ogazi subsequently adjourned the case until August 27, 2026, for review of the facts and other proceedings, while ordering that the defendants remain in a correctional centre.
The Issues
The case highlights growing concerns over the compromise of banking systems through the misuse or unauthorised disclosure of access credentials.
Nigeria’s evolving cybercrime landscape has also placed banks and other financial institutions under increasing pressure to strengthen internal controls, cybersecurity infrastructure and access-management systems.
The INTERPOL African Cyberthreat Assessment Report 2026 identified Nigeria as both a significant target of cyberattacks and a source of cyber-enabled financial crime. The report also identified ransomware, business email compromise and international money laundering among the major threats associated with the country’s cybercrime environment.
The report recorded 5,822 ransomware detections in Nigeria in 2025, while warning that criminal networks operating from the country were expanding beyond conventional online fraud into more sophisticated forms of financial crime.
What’s Being Said
Economic and Financial Crimes Commission:
The EFCC alleged that the defendants supplied or disclosed credentials capable of providing access to FCMB’s systems, with the prosecution specifically alleging that Aghogho received or was to receive $15,000 for the unauthorised disclosure.
The Commission is prosecuting the defendants under provisions of the Cybercrimes Act relating to the unlawful use and disclosure of computer access credentials.
The defendants:
Aghogho pleaded not guilty to the charges against him, while Chukwuebuka pleaded guilty.
A third alleged participant, identified as Scott, remains at large.
What’s Next
The court is expected to review the facts of the case against Chukwuebuka on August 27, 2026, following his guilty plea.
The prosecution is also expected to proceed with the case against Aghogho, who pleaded not guilty, while efforts continue to locate Scott.
The case will further test the application of Nigeria’s amended cybercrime legislation to alleged insider or credential-based attacks on financial institutions.
Bottom Line
The arraignment underscores the growing risks posed by compromised banking credentials and insider-enabled cyber threats to Nigeria’s financial system. The outcome of the case could also provide further insight into how the courts are applying the amended Cybercrimes Act to cases involving unauthorised access to financial institutions.
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