According to Daily Trust, Nigerian police arraigned five suspects in court over allegations of unauthorized access and fund transfers involving Sterling Bank's banking platform and Bance application [1]. Prosecutors alleged that the conduct occurred between November 3 and 4, 2024, and involved collusion between insiders and external individuals [1]. All defendants pleaded not guilty and were granted bail; as the case awaits trial, prosecutorial allegations should not be treated as established convictions [1].
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Backfill: this event became public on Jan 21, 2025 and we added it on Nov 10, 2026. It is not a new event.
HighMonitoringBackfillMedia reported
Nigerian Police Arraign Suspects Over Unauthorized Transfers on Sterling Bank Platform
1 min read
- Disclosed
- Jan 21, 2025
- Occurred
- Nov 3, 2024
- Published
- Nov 10, 2026
- Last updated
- Nov 7, 2026
- CVSS basis
- Our assessment
- Attack vector
- Actor type
- Motivation
On this page
30-second summary
What happened
Who is affected
Industries mainly affected: Finance
What to do nowOur advice
All defendants pleaded not guilty and were granted bail; as the case awaits trial, prosecutorial allegations should not be treated as established convictions [1].
Timeline
- Incident publicly disclosed[1]
Technical details
Source-Supported Details
All defendants pleaded not guilty and were granted bail; as the case awaits trial, prosecutorial allegations should not be treated as established convictions [1].
Source excerpt: "The Nigeria Police Special Fraud Unit (PSFU), Ikoyi, Lagos has arrested five suspects made up of three men and two women over allegation of compromising the banking platform and Bance Application of Sterling Bank Plc and purportedly stole N1,257,536,572.50 billion." [1].
References
Media1
- [1]
“The Nigeria Police Special Fraud Unit (PSFU), Ikoyi, Lagos has arrested five suspects made up of three men and two women over allegation of compromising the banking platform and Bance Application of Sterling Bank Plc and purportedly stole N1,257,536,572.50 billion.”
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