Osaretin Osagiede Ojo, when he was arrested
An Ikeja High Court of Lagos State has, has ordered the remand of a man, Osaretin Osagiede Ojo, over alleged unauthorised access to computer material and receiving stolen of N700 million.
Justice Olukayode Ogunjobi who presided over the court remanded the defendant after he pleaded not guilty to the charges made against him by the Economic and Financial Crimes Commission (EFCC), on Monday.
The EFCC through its prosecutor, H.U. Kofarnaisa, had told the court that the defendant allegedly received funds stolen from Best Start Micro Finance Bank.
One of the charges against the defendant read: “That you Osaretin Osagiede and Zacharia Lorshe (at large), between March, 2025 and January 2026, in Lagos, within the jurisdiction of this Honourable Court, intentionally caused the Ravenpay user accounts’ two-factor authentication (2FA) method to be bypassed, with the intent to secure unauthorised access to the bank’s data and committed an offence contrary to Section 387 of the Criminal Law of Lagos State 2011.”
Another counts reads, “That you Osaretin Osagiede and Zacharia Lorshe (at large), between March 2025 and January 2026 in Lagos, within the jurisdiction of this Honourable Court, dishonestly received the stolen sum of N700,000,000.00 (seven hundred million Naira), property of Best Start Micro Finance Bank, whilst having reason to believe the same to be stolen property and committed an offence contrary to Section 411 and 328(1) of the Criminal Law of Lagos State 2011.”
The defendant pleaded “not guilty” to the charge.
Prosecution counsel, Kofarnaisa, prayed the court for a trial date and urged the court to remand the defendant in a correctional facility pending the hearing of his bail application.
Justice Ogunjobi adjourned the matter to September 16, 2026, for hearing of the bail application and ordered that Mr Osagiede be remanded.
