EFCC Arraigns Three Wema Bank Staff Over Alleged N8.5 Billion Fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned three Wema Bank employees and four others over an alleged N8.5 billion fraud. The suspects, identified as Samuel Ihechukwu Asiegbu, Fabian Chizaram Onyeimachi, and Kingsley Kelechi Ejim, appeared before the Federal High Court in Lagos on Monday.

They were arraigned alongside Hanna Okunlola, Hamza Zakariya, Achionu Chukwuka Ubaku, and Sunday Osademe on an eight-count charge of conspiracy and obtaining money by false pretence. According to the EFCC, the alleged fraud took place in January 2025 and involved unauthorized data manipulation to siphon funds from Wema Bank accounts for personal gain.

The charge sheet stated that the defendants, along with other unnamed individuals still at large, conspired to cause the loss of N8.5 billion from accounts domiciled in Wema Bank. They are accused of altering, erasing, and inputting data in the bank’s computer system in violation of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015.

All the defendants pleaded not guilty when the charges were read. Prosecuting counsel Aso Peters requested a trial date and asked that the defendants be remanded in custody. In response, the defence requested that Okunlola be held in EFCC custody due to health concerns. Trial judge Daniel Osiagor granted the request and ordered that five of the defendants be remanded in the custody of the Nigerian Correctional Service, while Ejim was allowed to continue on an existing bail.

The case has been adjourned to June 6 for trial.