EFCC Arraigns Two Over Alleged Sale of Bank Credentials for $15,000

 

The Economic and Financial Crimes Commission (EFCC) has arraigned two men before the Federal High Court in Lagos over the alleged unauthorised disclosure and sale of sensitive bank access credentials for $15,000.

The defendants, Gideon Bakpa Aghogho and Oscar Ebere Chukwuebuka, were arraigned on Wednesday before Justice F.N. Ogazi on an eight-count charge filed under the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015, as amended in 2024.

A third suspect, identified as Scott, was also mentioned in the charge but is currently at large.

According to the EFCC, the defendants allegedly supplied sensitive credentials linked to the internal systems of First City Monument Bank (FCMB), including an access code described as a local Administrative Credential, ITSD.

The commission alleged that the credential, supplied between July 24 and 26, 2026, could provide access to the FCMB Virtual Center Platform and was supplied with the intention of facilitating an offence.

The EFCC further alleged that Aghogho unlawfully disclosed bank access information, including server IP and domain details, between April and May 2025, with the information allegedly supplied to facilitate unauthorised access to the bank’s database in exchange for $15,000.

When the charges were read, Aghogho pleaded not guilty, while Chukwuebuka pleaded guilty to the charges.

Following Aghogho’s plea, EFCC counsel, Bilkisu Buhari, asked the court to remand him in a correctional facility pending trial. The prosecution also requested that the court review the facts of the case following Chukwuebuka’s guilty plea.

Justice Ogazi subsequently adjourned the matter until August 27, 2026, for review of facts and further proceedings, while ordering that the defendants remain in a correctional centre pending the next hearing.

The case highlights the growing concern over insider threats to financial institutions, where individuals with legitimate access to sensitive systems can potentially expose critical banking infrastructure. However, the allegations against the defendants remain to be tested in court.