A Lagos court has sentenced an Ecobank employee to prison for orchestrating a ₦2.4 million cyber fraud, sending a strong signal to financial insiders who abuse their positions of trust.
The convicted staff member was found guilty of tampering with customer account details to siphon funds for personal gain. The scheme was uncovered after internal monitoring flagged suspicious transactions, prompting a full investigation.
During the trial, the prosecution presented evidence of deliberate manipulation within the bank’s system. The court, in its verdict, condemned the act as a betrayal of professional ethics and a threat to public trust in financial institutions.
“This ruling should serve as a stern warning to others within the banking system,” the presiding judge stated. “No institution can function if its integrity is compromised from within.”
Authorities have reaffirmed their zero-tolerance stance on insider fraud, promising tighter surveillance and tougher penalties for staff who exploit their access for criminal activities. The case is the latest in a series of moves aimed at sanitizing the banking sector and restoring confidence among depositors.