A 47-year-old man identified as Ugochukwu Eze, known by the alias "Amazon," was remanded by the Federal High Court in Lagos on Thursday following allegations that he hacked into Suntrust Bank's servers and diverted N800 million.
The court appearance marks a procedural step in the prosecution's case against Eze, who was arraigned on charges related to the unauthorized access and subsequent transfer of funds from the lender's systems.
The specific details of the hacking methodology and the current status of the recovered funds were not immediately disclosed in court filings.
The case underscores the persistent threat of cybercrime targeting Nigeria's financial sector.
It follows other recent high-profile prosecutions, including the pursuit of a Bulgarian national by Indonesian authorities for compromising thousands of accounts at Bank Jambi, and the arraignment of Usie Otukpa Osang in Abuja for orchestrating a cryptocurrency investment scam.
Investors and market participants continue to monitor the regulatory and legal responses to digital fraud, which can impact institutional risk assessments and cybersecurity spending across the banking industry.