The operatives of the Department of State Security Services (DSS) has arraigned a 32-year-old man, Ogunwobi Philip Ayodeji, before a Federal High Court, Lagos over an alleged cyberattack on MoMo Payment Service Bank Limited, a subsidiary of MTN Nigeria Communications Plc, resulting in the diversion of over N340 million.
The defendant, Ayodeji was arraigned in a charge marked FHC/LAG/CR/825/2026, before the court presided over by Justice Ambrose Lewis-Allagoa on five counts bordering on alleged unlawful access to the bank’s financial infrastructure, conspiracy, cybercrime and money laundering.
The prosecutor, Michael Bajela Esq, leading J. A. Babalola, while arraigning the defendant, informed the court that allegedly compromised the bank’s system and platform between May and August 2026, causing unauthorised access to critical national financial information infrastructure.
He also told the court that the defendant conspired with one Abhicheck Modane, an Indian national, who is currently at large, to unlawfully access the bank’s system and fraudulently divert funds into unauthorised wallets and different accounts.
He further told the court that the defendant of unlawfully hindering the operations of MoMo Payment Service Bank and fraudulently diverting approximately N340 million belonging to the financial institution.
Bajela also told the court that the defendant concealed and transferred various sums of monies were were traced to the cyberattacks on the bank’s network.
The defendant was also accused of wilfully collecting and retaining funds allegedly traced to the cyberattacks, despite knowing or having reason to know that the money constituted proceeds of cybercrime.
The defendant’s alleged offences, according to the prosecutor, alleged offence is said to be contrary to Section 5, 6(1) and 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act 2024.
The prosecutor also informed the court that the alleged criminal acts of the defendant contravened Section 18(2)(d); 10 and 20 of the Money Laundering (Prevention and Prohibition) Act 2022 as the provision allegedly contravened.
Meanwhile, the defendant, ogunwobi Philip Ayodeji, denied commit the offences and pleaded not guilty to the five counts charge.
Owing to the defendant’s not guilty plea, the prosecutor prayed the court for a trial date, while urged the court to remand the defendant, pending trial.
However, the defendants through his lawyer, told the court that his bail application has been filed and same has been served on the prosecution.
The prosecutor confirmed being served with the bail application, but told the court to impose the conditions that will enable the defendant to attend court for his trial till when the matter will be determined.
Justice Lewis-Allagoa after hearing the counsel, admitted bail to the defendant in the sum of N500 million with one surety with a landed property worth N500 million
The judge said the surety must be a resident within the court’s jurisdiction. Adding that the defendant to deposit his international passport with the court’s Deputy Chief Registrar (DCR).
The judge however ordered that the defendant be remanded in the facility of the Nigerian Correctional Services NCoS pending the fulfillment of the bail terms. The judge thereafter adjourned the matter to November 27, 2027, for trial.
Parts of the charges against the defendant read: “That you Ogunwobi Philip Ayodeji (M) (32 years) sometimes between May 2026-August 2026 in Lagos, and other places within the jurisdiction of this Honourable court unlawfully compromised the system/platform of Momo payment Service Bank Limited, a subsidiary of MTN Nigeria Communications Plc. Causing unauthorized access to critical National Financial information infrastructure, thereby committing an offence contrary to and punishable under section 5 of cybercrimes (prohibition, prevention etc) Act 2024.
“That you Ogunwobi Philip Ayodeji (M) (32 years) sometimes between May 2026 -August 2026 in Lagos, and other places within the jurisdiction of this Honourable court, conspired with one Abhicheck MODANE (Indian National) presently at large, to unlawfully access Momo payment Service Bank Limited a subsidiary of MTN Nigeria Communications Plc and fraudulently diverted funds to unauthorized wallet credit and different accounts, thereby committing an offence contrary to Section 6 (1) of the cybercrime (prohibition, prevention, etc) Act 2024 and punishable under the same section of the Act.
“That you Ogunwobi Philip Ayodeji (M) (32 years) sometimes between May 2026-August 2026 in Lagos, and other places within the jurisdiction of this Honourable court, unlawfully, seriously hindered the function of Momo Payment Service Bank Limited, a subsidiary of M.T.N Nigeria Communications Plc and in the process fraudulently diverted about three hundred and forty million naira (N340,000,000) belonging to the said Momo payment Service Bank Limited, thereby committed an offence contrary to and punishable under Section 8 of the cybercrime (Prohibition, prevention etc) Act 2024.
“That you Ogunwobi Philip Ayodeji (M) (32 years) being part of a crime syndicate on diverse dates between May 2026 and August 2026 within the jurisdiction of this Honourable Court, willfully collected and retained funds knowingly traced to you as unlawful cyber-attacks on Momo payment Services Bank Limited a subsidiary of M.T.N Nigeria Communication Plc, knowing or having reason to know that the said funds constituted proceeds of cybercrime thereby committing an offence contrary to section 18 (2) (D) of money Laundering (prevention and prohibition) Act 2022 and punishable under the same section of the Act.”