A 32-year-old man, Ogunwobi Philip Ayodeji, has been arraigned by the Department of State Services (DSS) over an alleged cyberattack on MoMo Payment Service Bank, a subsidiary of MTN Nigeria Communications Plc, involving the diversion of about ₦340 million.
Ogunwobi Philip Ayodeji was arraigned before the Federal High Court in Lagos on five counts bordering on alleged cybercrime, conspiracy, unlawful access to financial infrastructure and money laundering.
The charges, marked FHC/LAG/CR/825/2026, were heard by Justice Ambrose Lewis-Allagoa.
The prosecution, led by Michael Bajela, alongside J. A. Babalola, alleged that the defendant compromised MoMo’s systems and platforms between May and August 2026, gaining unauthorised access to the financial institution’s infrastructure.
According to the prosecution, Ayodeji allegedly worked with an Indian national, identified as Abhicheck Modane, who is currently at large, to breach the bank’s systems and divert funds into unauthorised digital wallets and various accounts.
The defendant was also accused of interfering with the bank’s operations and diverting approximately ₦340 million belonging to the financial institution.
The prosecution further alleged that Ayodeji concealed and transferred funds linked to the cyberattack and knowingly collected or retained money believed to be proceeds of the alleged criminal operation.
The charges were brought under provisions of the Cybercrimes (Prohibition, Prevention, etc.) Act 2024 and the Money Laundering (Prevention and Prohibition) Act 2022.
However, Ayodeji pleaded not guilty to all five counts.
Following his plea, the prosecution requested a trial date and urged the court to remand him pending the determination of the case.
Defence counsel, however, informed the court that a bail application had been filed and served on the prosecution.
Bajela confirmed receiving the application but urged the court to impose stringent conditions to ensure that the defendant would attend subsequent proceedings.
In his ruling, Justice Lewis-Allagoa granted Ayodeji bail in the sum of ₦500 million, with one surety who must own landed property valued at not less than ₦500 million.
The judge further directed that the surety must reside within the court’s jurisdiction and that the defendant deposit his international passport with the Deputy Chief Registrar.
Despite the bail approval, the court ordered that Ayodeji remain in the custody of the Nigerian Correctional Service pending the fulfilment of the bail conditions.
The case was adjourned until November 27, 2026, for trial.
Don’t Miss Out! Join our WhatsApp Channel for instant news updates. Click here to join
