ALLEGED FRAUDSTERS GRANTED N50M BAIL IN MTN N1.9BN FRAUD CASE

A Federal High Court in Ikoyi, Lagos has granted a N50 million bail to two alleged fraudsters, Timothy Fashina Oluwabukola and Anthony Imonina Odemerho, accused of defrauding MTN Nigeria Communications of N1.9 billion.

Justice Akintayo Aluko granted the bail after hearing two applications filed by the defendants, and ordered them to provide two sureties each, including a civil servant and a landed property owner.

The defendants were arraigned on a four-count charge of conspiracy, unauthorized access, and unlawful conversion, for allegedly hacking into MTN’s Application Programming Interface (API) and stealing N1.9 billion airtime and data.

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The prosecution alleged that the defendants and others at large committed the offences between January and April 2024, in Lagos and Edo states.

The defendants pleaded not guilty to the charges, and their lawyer filed two applications for bail, which were granted by the court.

The court ordered the defendants to be remanded in the custody of the Nigerian Correctional Services (NCoS) until they fulfill their bail conditions.