Federal High Court Extends Freeze on 818 Bank Accounts Linked to N10 Billion Cyberattack
The Federal High Court in Abuja has extended the freezing of 818 bank accounts connected to a N10 billion cyberattack on Hope Payment Service Bank (Hope PSB). The 30-day extension was granted by Justice James Omotosho following a request by the Inspector General of Police (IGP), citing ongoing investigations into the alleged diversion of illicit funds. This action, based on a motion filed by the IGP’s legal team, involves numerous defendants and banking institutions.
According to an affidavit submitted by the Nigeria Police Force, the investigation stems from a complaint by Hope PSB’s Managing Director regarding a significant fraud and conspiracy case. The affidavit details that N10 billion was fraudulently obtained through a cyberattack, which allegedly saw funds diverted into the accounts of the 818 defendants. Police reports suggest these funds were laundered across various accounts, necessitating the continued freeze to prevent further financial losses.
The IGP explained that while an initial 14-day freeze was imposed, not all banks received the order in time, justifying the extended freeze. The police are reportedly working to ensure all financial institutions involved comply with the order as they further probe the cyberattack and secure any remaining funds from the attack that Hope PSB previously thwarted in July.
