Ogunwobi Philip Ayodeji pleaded not guilty to five counts, the Federal High Court in Lagos granted him ₦500 million bail pending fulfilment of the conditions.
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 cyberattack on MoMo Payment Service Bank Limited, a subsidiary of MTN Nigeria Communications Plc, which reportedly resulted in the diversion of approximately ₦340 million.
Ayodeji was arraigned before Justice Ambrose Lewis-Allagoa on a five-count charge bordering on conspiracy, unlawful access to the bank’s financial infrastructure, cybercrime and money laundering.
According to reports by The Guardian and The PUNCH published on October 13, 2026, the prosecution alleged that the defendant compromised the bank’s systems between May and August 2026, gaining unauthorised access to its financial infrastructure.
The allegations are contained in charge number FHC/LAG/CR/825/2026.
DSS Alleges Unauthorised Access to MoMo Bank Systems
During the proceedings, the prosecution, led by Michael Bajela, assisted by J. A. Babalola, alleged that Ayodeji conspired with an Indian national, Abhicheck Modane, who is reportedly at large, to gain unlawful access to the bank’s systems.
The prosecution claimed that the alleged operation involved diverting funds into unauthorised digital wallets and other accounts.
It further alleged that the activities disrupted the operations of MoMo Payment Service Bank and resulted in the diversion of approximately ₦340 million belonging to the financial institution.
The defendant was also accused of transferring and concealing funds allegedly linked to the cyberattack, as well as knowingly collecting or retaining proceeds of the alleged criminal activity.
The allegations have not been established in court, and the defendant is presumed innocent unless proven guilty.
Defendant Pleads Not Guilty to Five Counts
When the charges were read to him, Ayodeji pleaded not guilty to all five counts.
Following his plea, the prosecution asked the court to fix a date for trial and remand the defendant pending the determination of the case.
However, defence counsel informed the court that a bail application had been filed and served on the prosecution.
Bajela confirmed receipt of the application but urged the court to impose conditions that would ensure the defendant’s attendance throughout the trial.
Court Grants ₦500m Bail
In his ruling, Justice Lewis-Allagoa granted the defendant bail in the sum of ₦500 million, with one surety required to provide landed property valued at the same amount.
The court directed that the surety must reside within its jurisdiction.
The judge also ordered Ayodeji to deposit his international passport with the Deputy Chief Registrar of the court.
Despite granting bail, the court directed that the defendant remain in the custody of the Nigerian Correctional Service pending the fulfilment of the bail conditions.
The case was adjourned until November 27, 2026, for the commencement of trial.
Cybercrime and Money Laundering Laws Cited
According to the prosecution, the alleged offences contravene provisions of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, and the Money Laundering (Prevention and Prohibition) Act, 2022.
The case places renewed attention on the security of digital financial infrastructure as mobile money and electronic payment services continue to play an important role in Nigeria’s financial ecosystem.
However, the allegations against Ayodeji remain subject to judicial determination. The forthcoming trial is expected to provide an opportunity for the prosecution and defence to present their respective cases before the court.
