Wednesday September 30, 2026

By SituationREPORT 

Operatives of the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) have uncovered a cyber-enabled syndicate accused of diverting N6.174 billion from the treasury collection accounts of a financial institution.

The Assistant Inspector-General of Police in charge of the NPF-NCCC, AIG Akaninyene Ezima, disclosed the breakthrough on Wednesday during a press briefing at the centre’s headquarters in Abuja.

Ezima said two Indian nationals linked to the alleged scheme had been arrested, while an international manhunt was underway for the suspected mastermind, identified as Sandy Agawala, the Managing Director of Ecovista Industries BVT Limited.

According to him, the investigation began after the police received a formal petition on August 13, 2026. Preliminary findings showed that the syndicate allegedly exploited vulnerabilities created during the financial institution’s migration from a public-sector Application Programming Interface (API) to a private-sector API.

Investigators reportedly traced 761 unauthorised transactions, totalling N6.174 billion, to 105 beneficiary accounts across 19 commercial banks. The syndicate had also allegedly attempted to divert N24.319 billion, but the larger transaction was stopped.

How the alleged laundering scheme worked

Ezima said the stolen funds were laundered through apparently legitimate corporate transactions involving customers of Ecovista Industries BVT Limited.

In one example, a customer who paid N27.5 million for a consignment of rice was reportedly informed that the company’s bank account had developed a problem. The customer was subsequently refunded with money allegedly drawn from the stolen funds and instructed to transfer the payment to another account.

“That refund made to the customer was not from their bank account. Rather, that money was stolen funds through the system configuration which was transferred to the customer,” Ezima said.

The company’s managing director, Agawala, is believed to have fled Nigeria. The police said extradition procedures were being activated to secure his arrest. The case has been filed in court, while forensic investigators continue to trace assets linked to the alleged fraud for possible recovery.

Robbery suspects allegedly drain victims’ bank accounts

The NPF-NCCC also announced the arrest of two suspects in connection with a robbery that allegedly led to the digital theft of money from a couple’s bank accounts.

The victims were reportedly attacked by motorcycle-riding assailants while exercising in Abuja on September 20, 2026. The robbers allegedly stole a Samsung Galaxy Z Flip 7 and an iPhone 17 Pro Max before gaining access to the victims’ mobile banking applications.

The suspects allegedly transferred $950 from a foreign currency account and N1.219 million from a naira account. Investigators traced a N50,000 airtime purchase made with the stolen funds, leading to the suspects’ arrest.

Police said searches conducted during the investigation produced several mobile phones, National Identification Number cards, corporate documents, a Toyota Corolla, ATM cards, seven Point-of-Sale terminals and a weapon.

One of the suspects was also allegedly found to be operating two Bank Verification Numbers under different names while using identical photographs.

Police investigate $144,000 electronics theft

The centre further reported the resolution of an international cargo theft involving 222 iPhones and 15 smartwatches valued at $144,000.

The consignment, shipped from Dubai to Nigeria, was allegedly tampered with before delivery. The importer reportedly found that the electronic devices had been replaced with old phone chargers and discarded newspapers.

Police operations in Oyo and Lagos states led to the arrest of key suspects and the recovery of some of the stolen devices. Three other suspects remain in custody as investigations and recovery efforts continue.

US extradition suspect arrested in Abuja

Ezima also confirmed the arrest of Abiodun Olawale-Lawal, who is wanted in the United States over alleged wire fraud and attempted wire fraud.

The suspect was arrested in Abuja on September 11, following an official extradition request transmitted through the Office of the Attorney-General of the Federation on September 4, 2026. Extradition proceedings have commenced in court.

Police warn against unverified online claims

The police chief cautioned Nigerians against sharing unverified information online, citing an increase in cyber-stalking, cyber-bullying and criminal defamation on digital platforms.

“The job of the police and the NCCC is not just arrest, arrest, arrest. We also owe a duty to members of the public to enlighten them,” Ezima said. “Think it through. Be sure that what you are posting is verified.”

The NPF-NCCC also announced plans for a national cyber-awareness campaign involving government agencies, financial institutions, technology companies and academic institutions.

The initiative will include stakeholder engagements at the Police Resource Centre, school outreach programmes and a public awareness walkathon aimed at strengthening Nigeria’s cyber resilience.