Police arrest Former Cross River guber candidate, other suspects in N607 Million crypto currency fraud


The Nigeria Police have arrested a prime suspect and three others over an alleged cybercrime of conspiracy involving the unauthorized modification of computer systems and unlawful diversion of funds totaling over N607 million belonging to one Patricia Technologies’ crypto currency account.

The arrest, which has vindicated Patricia Technologies, followed a thorough investigation into the case by the National Cybercrime Center of Nigeria Police Force, NPF-NCCC.

Patricia Technologies had earlier petitioned the Inspector General of Police to report the alleged crime, following a reported breach of its cryptocurrency trading platform, Patricia, in 2022.

The incident resulted in loss of funds belonging to depositors and led to the suspension of the platform by Patricia Technologies to curtail further compromise of depositors’ funds.

According to the Nigeria Police Public Relations Officer, PRO, Olumuyiwa Adejobi, at a briefing in Abuja weekend, ensuing investigation revealed a far-reaching criminal conspiracy involving the unauthorized modification of computer systems, network data, and the unlawful diversion of funds totaling over N607 million belonging to the petitioner.

The key suspect in the complex cybercrime, arrested with three of his co-conspirators, is a prominent politician and former gubernatorial aspirant in Cross River State in the 2023 general election Mr Wilfred Bonse(NNPP)

He was found to have masterminded the alleged crime by conspiring with others, through the conversion of cryptocurrency wallets and diversion of the unauthorized N607 million from Patricia Technologies’ Flutterwave account to his bank account.

Hanu Fejiro, CEO of Patricia Technologies, said “the conclusion of Police investigation and eventual arrest of one of the perpetrators is a huge respite to the firm, as well as all its stakeholders.

“This is a big relief. We have finally been vindicated as not a few disbelieved us that our plaIorm was hacked in the first place.

“But thanks to the diligence of the Nigerian Police and the unwavering commitment of my colleagues, we are delighted that our customers now have more reason to continue to trust us. The dark days are over.

“With this development, Nigerians can now see that we have always been a truthful, fair, and responsible organization with the best interest of our customers at heart.”