Fintech firm, Flutterwave, has reported the loss of N2,949,557,867 from it’s accounts.
The money was said to be moved from the accounts through illegal transfers.
In a statement, the firm, through its counsel, Albert Onimole, said the case had been reported to the Deputy Commissioner of Police, State Criminal Intelligence Department, Panti, Yaba.
According to Onimole’s letter, the hack on Flutterwave’s accounts occurred weeks ago, with the money being initially transferred to 28 accounts in 63 transactions.
He said although the accounts that received the money were listed, the police had yet to freeze the receiving accounts to prevent the money from being moved.
The Fintech also fingered some commercial banks in the case, saying they allowed the money to be moved to other accounts, this widening the money trail.
To investigate the accounts holding the stolen funds across various financial institutions in Nigeria, S.A. Adedesin, Legal Officer, State CID, Panti, Yaba, filed a suit in the Magistrate Court of Lagos to support Flutterwave’s claims.
The suit is between the Commissioner of Police and the affected 28 commercial banks.
While there are no documents to confirm if the court has ruled in favour of Inspector Micheal’s motion, some people have confirmed that their accounts have been frozen in connection to the hack.
Per the motion filed by Adedesin, 107 accounts, including fifth beneficiaries of those accounts, are to be placed on lien/Post-No-Debit (PND).
