42
The Economic and Financial Crimes Commission (EFCC) has arraigned a Lagos-based businessman, Ugoh Christogonus Onyewuchi, alongside his company, C-PAC Integrated Service Nigeria, before the Special Offences Court sitting in Ikeja, Lagos, for allegedly stealing and retaining N215.8 million believed to be part of stolen funds traced to a commercial bank.
The businessman and his company were arraigned before Justice Olubunmi Abike-Fadipe on Monday, October 13, 2025, by the Lagos Zonal Directorate 1 of the EFCC. They were charged with a two-count charge bordering on stealing and retention of proceeds of criminal conduct.
According to the anti-graft agency, Onyewuchi allegedly retained control of N215,800,000, which forms part of N8.5 billion reportedly stolen from accounts domiciled in a commercial bank through unauthorised access to its computers and server system. The EFCC said the money was transferred into the company’s account, C-PAC Integrated Service Nigeria, held at the said bank.
The EFCC told the court that its investigation revealed that the funds were moved from the bank’s system using compromised credentials and unauthorised digital access. The commission alleged that Onyewuchi, who owns and manages C-PAC Integrated Service Nigeria, benefited from the illegal transaction by retaining part of the stolen money in his company’s account.
In the charge sheet presented in court, count one reads:
“That you, Ugoh Christogonus Onyewuchi and C-PAC Integrated Service Nigeria, sometime in 2025 in Lagos, within the jurisdiction of this Honourable Court, retained the control of the sum of N215,800,000 (Two Hundred and Fifteen Million Eight Hundred Thousand Naira), money which forms part of N8,568,090,500 (Eight Billion, Five Hundred and Sixty-Eight Million, Ninety Thousand, Five Hundred Naira) stolen from accounts domiciled with a bank through unauthorised access to their computers and server, and paid into your account number 5080158271 with account name C-PAC Integrated Service Nigeria.”
Count two further reads:
“That you, Ugoh Christogonus Onyewuchi and C-PAC Integrated Service Nigeria, sometime in 2025 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the sum of N215,800,000, money which forms part of N8,568,090,500 stolen from accounts domiciled with a bank through unauthorised access to their computers and server, and paid into your account number 5080158271 with account name C-PAC Integrated Service Nigeria.”
The defendant, Onyewuchi, pleaded not guilty to both charges. Following his plea, the EFCC’s prosecution counsel, M.K. Bashir, applied for a trial date and urged the court to remand the defendant in a correctional centre pending the commencement of trial. Bashir also told the court that the prosecution was ready to present its witnesses and documents to prove the case against the defendant.
However, the defence counsel, G.D. Innocent, pleaded with the court to allow his client to continue enjoying the bail earlier granted to him by Justice I.O. Idowu during the court’s vacation period. He argued that Onyewuchi had complied with all bail conditions and had shown readiness to face trial.
After listening to both sides, Justice Olubunmi Abike-Fadipe granted the defence request and ruled that the defendant should continue on the previous bail terms granted by Justice Idowu. The judge, however, ordered that Onyewuchi be remanded at a Correctional Facility pending the perfection of his bail conditions.
The case has been adjourned to December 17 and 18, 2025, for the commencement of trial.
The EFCC has continued to intensify efforts to trace the remaining funds allegedly stolen from the affected bank’s accounts. According to a senior EFCC investigator, who spoke on condition of anonymity, several individuals and companies are being investigated in connection with the N8.5 billion cyber theft case. The official said digital forensics and bank transaction trails played a major role in tracking how part of the funds landed in Onyewuchi’s company account.
Meanwhile, sources close to the case said the EFCC is also collaborating with the Nigeria Financial Intelligence Unit (NFIU) and the Central Bank of Nigeria (CBN) to monitor suspicious transactions linked to the stolen money.
The case adds to the growing list of cyber-related financial crimes being prosecuted by the EFCC in Lagos, as the agency continues its clampdown on electronic fraud, online scams, and bank-related theft.
If convicted, Onyewuchi and his company could face severe penalties, including jail terms and forfeiture of assets acquired with proceeds of the alleged crime. The EFCC said it remains committed to upholding financial integrity and ensuring that those involved in economic crimes face justice under the law.
