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Apprehension as Hackers Compromise Polaris Bank Application

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By Modupe Gbadeyanka

Some customers of Polaris Bank (formerly Skye Bank Plc) are getting agitated following a recent report that some persons broke into a banking application of the company to tamper with a customer’s account.

This is now raising questions about the safety of their deposits with the financial institution.

Recall that recently, a hacker said most banks operating in Nigeria were prone to hacking because their systems are not too secured.

In the latest development, some young men allegedly hacked into Polaris Bank’s application and fraudulently increased the N781,000 in one of the customer’s bank account to N466 million.

It was gathered that the hackers, five in numbers, carried out the nefarious act last year in Kaduna State, but the long hands of the law has finally caught up with them.

On January 16, 2019, the Economic and Financial Crimes Commission (EFCC) arraigned the suspects before Justice Mohammed Tukur of a Kaduna State High Court.

The accused persons; Bashir Abdullahi Mohammed, Oche Ogenyi, Adefila Taofile Kayode, Rabiu Aliko Lawal and Mmadu Mathew were charged on a two-count charge bordering on conspiracy and stealing to the tune of N466 million.

“That you Bashir Abdullahi Mohammed, Oche Ogenyi, Adefila Taofile Kayode, Rabiu Aliko Lawal, Mmadu Mathew Onyekachi, and others now at large, sometime in 2018 in Kaduna within the judicial Division of the High Court, did conspire amongst yourselves to commit theft of the sum of N466 million and you thereby committed an offence contrary to 58(1) of the Penal Code Law Kaduna State 2017 and punishable under Section 59(1) of the same Law,” one of the counts read.

However, when the charges were read to them, they pleaded “not guilty” and the prosecuting counsel, Onyeka Ekweozor, thereafter asked the court to fix a date for “commencement of trial”, and asked that they be remanded in EFCC custody.

“The defendants have separate charges before a Federal High Court pending arraignment, and remanding them in prison custody will make it difficult for the prosecution to arraign them,” he said.

Counsel for the first defendant, A. Ashat, in his oral bail application urged the court to grant his client bail, arguing that he will not jump bail.

Sylvester Ogbelu, Defence counsel for the second and fourth defendants, also moved the bail application for them, and urged the Court to grant them bail on “liberal terms”, as they had no criminal record.

Ekweozor, however, opposed the bail application arguing that there were no fix addresses, and “some of them were arrested in hotels, some at the airport; granting them bail will jeopardise our attempt to arrest others at large and will even interfere with witnesses on the matter”.

“We urged my lord to reject their bail,” Ekweozor said. Justice Tukur, afterwards, ordered that they be remanded in EFCC custody pending the determination of the bail applications, and adjourned to January 21, 2019.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Banking

Defunct Diamond Bank Founder Pascal Dozie Dies Day to 86th Birthday

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By Modupe Gbadeyanka

A veteran bank and founder of the defunct Diamond Bank Plc, Mr Pascal Gabriel Dozie, has died at the age of 85.

The former chairman of MTN Nigeria, a leading telecommunications firm, died in the early hours of Tuesday, April 8, 2025, just a day to his 86th birthday.

The Nigerian entrepreneur and businessman chairman of Pan-Atlantic University established Diamond Bank in 1990. The company later became one of Nigeria’s most respected financial institutions.

The current Governor of Abia State, Mr Alex Otti, once headed the lender before handing over to the founder’s son, Mr Uzoma Dozie, when he veered into politics.

Diamond Bank merged with Access Bank in 2019.

Mr Pascal Dozie, who was once the President of the Nigerian Exchange Limited, then known as the Nigerian Stock Exchange (NSE), was born on April 9, 1939, in Egbu, Owerri, Imo State, and began his career as an economist at the National Economic Development Office in the United Kingdom.

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FCT Communities Get Food Packs from Fidelity Bank

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By Modupe Gbadeyanka

Some food packs have been distributed to residents of the Federal Capital Territory (FCT) Abuja recently by Fidelity Bank Plc as part of i​ts Corporate Social Responsibility (CSR) initiatives under the Fidelity Food Bank.

This is one of the key pillars of the bank’s CSR strategy, focusing on health and social welfare. As a nationwide project, the initiative seeks to provide food relief to underserved communities across Nigeria, with a particular focus on supporting women and children.

Officials of the financial institutions distributed the food items to seven communities in the Mabushi district of the FCT.

One of the beneficiaries, Mr Mukhtar Mohamed, expressed his gratitude to the bank, acknowledging the significant impact of food distribution.

Similarly, the District Head of Mabushi Community, Mr Hassan Danagna, commended Fidelity Bank for its generosity and its impact on the community.

“Fidelity Bank’s support to our community is unprecedented, and we are deeply grateful for this initiative, which provides relief to vulnerable households and less privileged families.

“Given the current economic challenges, this support is timely, particularly as we approach the holy month of Ramadan,” Mr Danagna stated.

Speaking at the distribution event, the Executive Director for North at Fidelity Bank Plc, Mr Sufiyanu Garba, emphasized the lender’s commitment to community development and its alignment with Sustainable Development Goal 2, which seeks to eradicate hunger.

“This initiative stems from our deep-seated responsibility to support underserved communities and contribute to the fight against hunger in Nigeria.

“At Fidelity Bank, we firmly believe that by addressing the root causes of poverty and hunger, we can make a meaningful impact on the lives of those in need.

“While we may not be able to solve all societal challenges, our contributions are making a difference, as evidenced by the positive feedback we continue to receive,” Mr Garba said.

“We recognize the importance of fostering growth and prosperity within the communities where we operate. By investing in their well-being, we contribute to the creation of a more sustainable and equitable society,” he added.

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Over 100 Exhibitors for 2025 Oja Oge by Ecobank

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By Modupe Gbadeyanka

The second edition of Oja Oge by Ecobank Nigeria Limited will attract more than 100 exhibitors, who will showcase their products to potential customers.

The 3-day fashion, beauty, wellness, and lifestyle exhibition will take place at the state-of-the-art Ecobank Pan African Centre (EPAC) in Lagos from April 18 to 20, 2025, at 10 am.

The financial institution is organising the 2024 edition following on the immense success of its first edition last year.

This programme will have exhibitors displaying a wide range of fashion, beauty, wellness, and lifestyle products, as well as entertainment offerings.

Oja Oge by Ecobank provides a dynamic platform for businesses to engage with a diverse audience of shoppers and entrepreneurs.

Already, Ecobank Nigeria has partnered with leading corporates in the telecoms, payments, airline and FMCG space – Airtel Nigeria, Flutterwave, Qatar Airways and Maltina respectively to deliver this second edition of its premier fashion pop up event Oja Oge over the Easter weekend.

Oja Oge by Ecobank offer premium entertainment and provide a platform for local vendors to showcase and sell their products to a wider audience.

Participants will also have the chance to network and build relationships, gaining access to new markets. For us, as a Pan African bank, supporting small businesses in this way is a core part of our mission,” the Head of SME, Partnerships, and Collaborations at Ecobank, Ms Omoboye Odu, stated.

“Participation is free, and we invite everyone to come along with family and friends to enjoy the fair. It’s not just about buying and selling; it’s an opportunity to experience the creativity and luxury of current fashion and lifestyle trends, alongside a variety of music, food, and entertainment,” she added.

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