Man arraigned over alleged N340m cyberattack on MTN MoMo Bank

The Department of State Services (DSS) has arraigned a 32-year-old man, Ogunwobi Philip Ayodeji, before the Federal High Court in Lagos over an alleged ₦340 million cyberattack on MTN’s MoMo Payment Service Bank.

According to The Guardian, Ayodeji appeared before Justice Ambrose Lewis-Allagoa on five counts involving conspiracy, unlawful access, cybercrime and money laundering.

Prosecutors alleged that Ayodeji conspired with an Indian national, Abhicheck Modane, currently at large, to compromise the bank’s financial systems between May and August 2026.

The alleged operation reportedly involved diverting approximately ₦340 million into unauthorised digital wallets and accounts.

Ayodeji pleaded not guilty to all charges.

Justice Lewis-Allagoa granted him bail of ₦500 million, requiring one surety with landed property of equivalent value within the court’s jurisdiction.

The judge also ordered Ayodeji to surrender his international passport and remain in correctional custody until his bail conditions are fulfilled.

The court adjourned proceedings until November 27, 2026, for the commencement of trial.