The Federal High Court in Abuja has recently granted bail to 109 foreign nationals who were facing a six-count charge related to high-level cybercrimes and hacking activities. These alleged offenses were committed earlier this year in Katampe, Abuja. Justice Ekerete Akpan delivered the bail ruling following an application moved by the defence counsel, James Onoja, SAN. The court ordered the accused to present five sureties and a total sum of N1 billion for their bail.

During his plea, defence counsel James Onoja emphasized the importance of due process in the bail application, stating that the essence of bail is to ensure the defendants' appearance for trial, as allowed by law and the Administration of Criminal Justice Act. He informed the prosecutor that the defence was prepared to submit all passports of the defendants to guarantee their presence. Onoja reiterated that all travel documents would be surrendered and five reliable guarantors would be provided to ensure the defendants are monitored and cannot travel without their documents. The court further stipulated that each surety must own a landed property within the Abuja metropolis and submit two recent passport photographs. The prosecution counsel, A. A Egwu, did not oppose the bail application.

Separately, Eric Oba, defence counsel for five Brazilian defendants (the 100th to 104th accused), also tendered a fresh bail application for his clients, which Justice Akpan approved. Pending the perfection of their bail conditions, the male defendants are to be remanded at Kuje prison, Abuja, while the female defendants will be held at Keffi prison in Nasarawa State. The case has been adjourned to February 27, 2025.

This court decision coincides with a broader national struggle against cybercrime, described as a 'never-ending war' against fraud. A recent Fraud and Forgery report by the Financial Institutions Training Centre (FITC) revealed that Nigerian banks incurred a loss of N53.4 billion to hackers within the first nine months of 2024. This figure represents a staggering 468 percent increase, or N44 billion more, compared to the N9.4 billion stolen during the same period last year.

The FITC report, which covers the first three quarters of 2024 and is based on returns from 30 deposit money institutions, detailed the quarterly trends. Hackers initially stole N468.4 million in the first quarter, but this escalated dramatically in the second quarter to a colossal N42.8 billion, marking a 9037.5 percent increase. The third quarter of 2024 saw a slowdown, with Nigerian banks losing N10.1 billion, a 76.4 percent decline from the second quarter.

Beyond the financial losses, the FITC report also indicated a 65 percent rise in the number of fraud cases reported by Nigerian banks. Between July and September alone, attempted theft by hackers amounted to N115.9 billion, a 104.8 percent increase from the N56.6 billion attempted in the preceding quarter. The Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukoyede, further highlighted the severity of the issue, stating that approximately $500 million has been lost to cybercrime in Nigeria during the year. Olukoyede, speaking at a cybercrime summit, revealed that cybercrime constituted a significant portion of the 3,455 cases recorded during his first year in office. He also shared global data, noting that projections suggest global losses to cybercrime could reach $10.5 trillion, making it the third largest crime worldwide with an estimated 2,328 cases occurring daily.