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How Safe Is Your Money At Sterling Bank?

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… As Staff hack Sterling Bank system, steal depositors’ N1.2bn funds

Sterling Bank Limited and its holding company, Sterling Financial Holdings Company, are currently battling a N1.257, 536, 572. 80 billion depositors’ funds which were stolen from the bank by some of its staff.The Witness gathered that the staff colluded with some fraudsters to hack the bank’s banking platform and stole the said fund.

The suspects, namely Victor Nwabueze (50), Favour Odey (22), Adekunle Daniel (34), Akachukwu Alagbogu, and Yetunde Oguntade (28)—were arraigned by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos, before Justice Ambrose Lewis-Allagoa at the Federal High Court in Lagos on Thursday.The group faced a three-count charge of conspiracy, hacking, and money laundering under the Cybercrimes Act and Money Laundering Prohibition Act.The prosecutor, Barrister Justine Enang, alleges that the suspects, in collaboration with internal staff of Sterling Bank, breached sensitive systems between November 3 and 4, 2024, using compromised data, including IP addresses and mobile equipment identities – 14984244, IP address 84252.113.3 & 88 transaction., to transfer funds to fraudulent accounts.He informed the court that the alleged acts of the defendants contravened sections 27(1)(b); 14(1) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as amended in 2024, Read along with section 14(1) of the same Act.Enang also told the court that the defendants’ act was contrary to and punishable under Section 18(2)(b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.The Charges Against The Defendants Read: “That you Victor Nwabueze Ogochukwy “m”, Favour Odey “f’, Adekunle Daniel “m”, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, within the jurisdiction of the Judicial Division of The Federal High Court, with intent to defraud, did conspire amongst yourselves to commit a felony to wit: internet fraud to the sum of N1, 257, 536, 572.50 (One Billion, Two Hundred and Fifty Seven Million, Five Hundred and Thirty Six Thousand, Five Hundred and Seventy Two Naira, Fifty Kobo) by false pretence and thereby committed an offence contrary to section 27(1)(b) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as amended in 2024, Read along with section 14(1) of the same Act.“That you Victor Nwabueze Ogochukwu “m”, Favour Odey “f’, Adekunle Daniel “m”, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, within the aforementioned Judicial Division of The Federal High Court, did knowingly and without authority cause financial lost to Sterling Bank Plc to the tune of N1, 257, 536, 572. 80 (One Billion, Two Hundred and Fifty Seven Million, Five Hundred and Thirty Six Thousand, Five Hundred and Seventy Two Naira, Fifty Kobo) by suppressing one of the banking platform and Bance Application from their various customers’ account to different fraudulent accounts with the collusion of an internal staff/external parties for possible compromise on sensitive data and security system of the bank by using international mobile equipment identity 14984244, IP address 84252.113.3 & 88 transaction, thereby conferred economic benefits on yourselves by converting the money in question to your own use against the Sterling Bank Plc and thereby committed an offence contrary to and punishable under Section 14(1) of the Cyber Crimes (Prohibition, Prevention Etc.) Act, 2015 as Amended in 2024.“That you Victor Nwabueze Ogochukwu ‘m’, Favour Odey ‘f, Adekunle Daniel ‘m’, Akachukwu Alagbogu and others now at large, sometimes on the 3rd & 4th November 2024, in Lagos State, in the aforementioned Judicial Division of Federal High Court, Lagos, did directly or indirectly converts or transfers, retains or takes possession or control of funds belonging to Sterling Bank Plc, knowingly or reasonably ought to have known that such funds is, or forms part of the proceeds of an unlawful Act and thereby committed an offence contrary to Section 18(2)(b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”While they pleaded not guilty, the prosecution opposed bail, citing the defendants’ potential flight risk.Justice Lewis-Allagoa eventually granted bail at N50 million each, with one surety who must own landed property within the court’s jurisdiction.Pending bail fulfillment, the accused were remanded in custody.The case is adjourned to March 13, 2025, for trial.Authorities continue to investigate other suspects believed to be at large.

Omonaijablog

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NASSCO Honours Zamfara Governor Dauda Lawal with Excellence Award for Inclusive Governance

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Governor Dauda Lawal of Zamfara State has received the Award of Excellence from the National Social Safety Nets Coordinating Office (NASSCO) in recognition of his administration’s commitment to inclusive governance and social protection delivery.

The award was presented during a stakeholder engagement event with local government chairmen, held at the Transcorp Congress Hall in Abuja.

NASSCO, a federal agency operating under the Federal Ministry of Humanitarian Affairs and Poverty Reduction, is responsible for implementing social safety-net programmes designed to protect and empower vulnerable populations across Nigeria.

In her remarks while presenting the award, the National Coordinator of NASSCO, Dr. Funmi Olotu, stated that the honour reflects Governor Lawal’s dedication to improving social protection systems and promoting inclusive governance in Zamfara State.

Accepting the award, Governor Lawal commended the Federal Government, the World Bank, and other development partners for their continued support of ongoing reforms to strengthen Nigeria’s social protection architecture.

“This engagement is timely and strategic,” Governor Lawal said. “In Nigeria, especially in conflict-affected states like Zamfara, social protection has shifted from welfare to a vital tool for governance, security, poverty reduction, and community resilience.”

He noted that insecurity in Zamfara has led to displacement, disruption of livelihoods, food insecurity, and significant economic hardship, which disproportionately affects women, children, displaced persons, people with disabilities, and rural communities.

The Governor stressed the need for better coordination, transparency, data-driven targeting, and stronger collaboration among federal, state, and local governments to ensure resources reach those who need them most.

He also praised the expansion of the National Social Register and the integration of the National Identification Number (NIN), describing these as steps that improve transparency, efficiency, and accountability in service delivery.

Governor Lawal further called for inclusive development that goes beyond cash transfers to include livelihood support, skills training, agriculture, healthcare, education, financial inclusion, and community resilience. “This will help vulnerable populations move from dependency to sustainable participation,” he said.

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CBN Fines Access Bank N35 Million For Anti-Money Laundering, Terrorism Financing Violations

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TRIXX NG reports that the Central Bank of Nigeria (CBN) has fined financial giant, Access Bank the sum of N35 Million for “antimoney laundering, combating the financing of terrorism and countering proliferation financing (aml/cft/cpf) risk-based examination for the period May 1, 2024 to April 30, 2025”This was revealed in the company’s 2025 results released some days ago.

This particular fine is part of the bank’s various infractions for the period under review.

It would be recalled that this publication reported that Access Bank lost N1.236 billion to fraud in 2025.

In the report, the financial giant, under the chairmanship of Aig-Imoukhuede, recorded 5,981 successful fraud incidents in 2025 alone, with N3.17 billion involved. However, the actual loss was N1.236 billion.

The single largest category was fraudulent account transfers, which alone accounted for N587.8 million in confirmed losses.

The most frequent fraud category was electronic and USSD fraud, with 5,931 successful cases recorded in 2025 alone. Actual losses from this category reached N465 million.

CREDIT: TRIXXNG

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How Governor Dauda Lawal Enhanced Agriculture and Food Security in Zamfara State in Under 3 Years

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By Oladapo Sofowora

For a state like Zamfara with the moniker; ‘Farming is our Pride’ is a case of a toothless bulldog who can only bark without attacking. Adjudged as the state with the most rich and arable land for agricultural works but failed to meet its full potential. The reason is not far-fetched but it’s an issue of leadership without foresight, genuineness and the can-do spirit. For years, Farmers had abandoned their fields, storage facilities were rotting and fertiliser was a luxury. This made families across the fourteen local government areas skip meals not because of banditry alone, but because food production had flatlined to the surface.

In 2023, the messiah, known for taking challenges head-on, came into the picture: Governor Dauda Lawal took the state from a struggling agrarian state back to its true potential. These changes were done without magic but required the seriousness from a government that is ready to bring about rescue to the ailing agriculture and food security value chain in Zamfara.

Today, the story is different, perhaps not perfect but measurably, verifiably different. Here is the direct account of how agriculture and food security improved under Governor Dauda Lawal within just three years and why the improvement needs to continue for another four years not through promises but through documented interventions that any farmer, trader, or housewife in Gusau, Funtua, or Talata Mafara can readily confirm.

For the very first time, fertilizer and improved seeds were hoarded by political middlemen who sold them at triple the market price or kept them for their own cronies this scam was finally stopped as farmers finally got inputs and they got them fairly. Governor Lawal broke that system entirely by creating a biometric farmer registration system that eliminated ghost names and party loyalists masquerading as farmers. Through this system, the state distributed 190,000 bags of subsidized fertilizer at a 50 percent subsidy directly to small holder farmers across all fourteen LGAs between 2023 and 2025. He also distributed 120,000 bags of maize and sorghum seeds and over two million rice seedlings free of charge to registered farmers.

The result was immediate and measurable. According to the Zamfara State Ministry of Agriculture, the number of farmers who planted at least one hectare of crops increased from approximately 180,000 in 2022 to over 350,000 in 2024. Fertilizer access rate among rural farmers rose from 22 percent to 67 percent. More farmers planting means more food on tables, more off-takers and funds readily available, more emerging markets are opening up and staple food availability like; maize, sorghum, millet, rice were increased by an estimated 40 percent across the state within two planting cycles.

Post-harvest losses dropped significantly, as food that used to rot now reaches hungry mouths. Before Lawal, Zamfara lost nearly 40 percent of its harvest to spoilage, rot, and pest infestation because there were no functional storage facilities across the state. Many farmers have had to watch their tomatoes, peppers, and grains decay while their families went hungry. In a bid to cushion this effect, the governor revived the Gusau Grain Storage Complex and the Funtua Agricultural Hub by installing modern silos with a combined capacity of 25,000 metric tons.

He also distributed 10,000 hermetic grain bags, airtight storage bags to rural women farmers who previously had no way to preserve their harvest beyond a few weeks. Post-harvest losses dropped from an estimated 38 percent in 2022 to 22 percent in 2024 this were verifiable statistics according to the Zamfara Agricultural Development Project.

With these changes, it is clear that; 16 percent more of every harvest actually reaches the market or the family kitchen. Less food waste means more food circulating in the local economy and farmers can now store their grains for months and sell when prices are fair, rather than being forced to sell immediately at rock-bottom prices to avoid spoilage.

Before Governor Dauda Lawal, Zamfara used to be a one-season farming state once the rains stopped in October, food production also nosedive. Families then endured five months of scarcity, sky-high prices and reliance on imported food from neighbouring states. Governor Lawal changed that permanently by rehabilitating five earth dams like; Bakolori, Zauro, Wawan Rafi, Dansadau and Kwalkwalawa, installing solar-powered irrigation pumps to ensure year-round water access. He also distributed 5,000 treadle pumps to smallholder farmers in Shinkafi, Kaura Namoda, and Talata Mafara LGAs.

Dry-season cultivated land increased from roughly 2,000 hectares in 2022 to over 10,000 hectares in 2024. Farmers are now producing onions, tomatoes, peppers, and wheat during the traditional lean months of November to March. The impact on food security has been dramatic as staple food prices which historically spiked by 50 to 70 percent between February and April, increased by only 22 percent during the same period in 2025, the smallest lean-season inflation in a decade. Families are eating better during the hardest months of the year because Lawal refused to accept that Zamfara should be hungry for half the calendar.

Herder-farmer clashes and livestock diseases had decimated Zamfara’s animal protein supply, with thousands of cattle dying from preventable illnesses and violent confrontations pushing herders off traditional routes. Governor Lawal launched the largest livestock vaccination campaign in the state’s history, inoculating 2.2 million cattle against CBPP and 1.5 million goats and sheep against PPR all free of charge. He also established three modern grazing reserves equipped with veterinary clinics and water points, moving herders away from open grazing that provoked conflicts with crop farmers.

Livestock mortality rates dropped from approximately 15 percent annually to 6 percent in 2024. Milk production increased by an estimated 30 percent and meat availability rose by 20 percent across major markets. More milk and meat means better nutrition, especially for children. Protein deficiency cases reported by Zamfara’s primary health centers dropped by 18 percent between 2023 and 2024. That is not a statistic. That is thousands of children getting stronger because Governor Lawal decided that animal health is human health.

Mechanization farming needed to replaced hoes, aching backs and tiny plots. In other to ensure more productivity of farmers across the state by reducing their burden amdnhelping them cover a large portion of their land during planting, Governor Lawal acquired 100 tractors, 300 power tillers and 50 combine harvesters by also establishing a tractor-hire scheme where farmers pay per hectare cultivated rather than bearing the crushing cost of ownership. He also opened a N2 billion Agricultural Credit Fund, providing loans to over 12,000 farmers at 5 percent interest with a six-month moratorium terms no commercial bank in Nigeria would ever offer. Land under cultivation expanded from 320,000 hectares in 2022 to approximately 480,000 hectares in 2024. Mechanization rates climbed from 8 percent to 22 percent.

Each tractor cultivated an average of 500 hectares per season, replacing the labor of over 200 farmworkers. More land under cultivation directly translates to more food supply, and the state’s estimated total food production in metric tons increased by 35 percent between 2022 and 2024 according to ZADP harvest surveys.

The ultimate test of any governor’s food security policy is whether families can afford to eat at least three square meals. Governor Lawal passed this test by creating the Zamfara Food Security Stabilization Committee, opened five bulking centers where farmers aggregate produce for bulk sale to major processors and waived all local government taxes on agricultural produce movement for eighteen consecutive months. No roadblocks, no levies, no settlement fees for trucks carrying farm produce.

In major Zamfara markets, the price of a 100-kilogram bag of maize in September 2024 was N38,000, compared to N52,000 in neighboring Katsina and N55,000 in Sokoto. Beans were N65,000 in Zamfara versus N85,000 in Kaduna. Sorghum prices were N35,000 in Zamfara versus N48,000 in Kano. An average household in Gusau spends approximately 28 percent less on staple grains than a comparable household in Katsina or Kano. That difference is money that stays in pockets for healthcare, education, and other needs. In a state where poverty rates were among the highest in the nation, that 28 percent saving is the difference between a child staying in school or being sent to the streets.

Despite Governor Dauda Lawal’s inheritance of an agricultural sector in intensive care, with just two years later, the vital signs have improved across every major metric. Farmers accessing subsidized inputs rose from 22 percent to 67 percent. Post-harvest losses dropped from 38 percent to 22 percent. Dry-season cultivated land expanded by 400 percent. Land under total cultivation increased by 50 percent. Mechanization rates more than doubled, as livestock mortality rate was cut by more than half.

The lean-season food price spike, which historically punished families with 50 to 70 percent inflation was contained to just 22 percent. Has he solved all of Zamfara’s food problems? No. Despite security, roads to some farming communities are still poor, more irrigation infrastructure still needed, the direction is unmistakable. Governor Dauda Lawal took a manifesto promise in 2022 and turned it into a measurable reality which everyone can see today. Food is more available and affordable.

For the first time in years, Zamfara’s farmers are looking ahead, not just surviving but producing. To consolidate on all these gains and also make it more solidified, Governor Dauda Lawal’s re-election is a collective efforts which all sundry must come together to make a reality by speaking in one voice on the pools and ensuring that farmers continue enjoying the dividend of democracy to ensure stability in Agricultural and food security value chain in the state and Nigeria at large.

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