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Yahoo Boys Hack ITEX Integreated System Server, withdraw N436.3 million




Eight men allegedly hacked into the server of ITEX Integrated Services Limited, stealing N435.3m.

A fraud ring made up of eight persons has been charged by the Lagos State Police Command in the Federal High Court for allegedly breaking into the server of ITEX Integrated Services Limited and stealing N435.3 million.

Aderuku Adedayo, Adigun Benjamin, Awopetu Tosin, Ajibade Ayomide, Ojo Olwaseun, Miller Oluwafemi, Olaleye Samuel, and Ajibade Ayodeyi are among the defendants who are accused of conspiring, hacking, stealing, and fraud.

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According to the prosecutor, Morufu Animashaun, the defendants planned to perpetrate the crimes on September 7, 2022, at 1E, Sinari Daranijo Street, Victoria Island, Lagos, with the help of other people who are still at large.

He said the defendants jointly hacked the company’s server and defrauded ITEX of N435, 386, 699. 99.

The prosecutor informed the court that the first defendant profited by N29.9 million, the second defendant by N51 million, the third defendant by N19 million, and the fourth defendant by N20 million.

The fifth through eighth defendants benefited from the sums of N13m, N3m, N13m, and N20m, respectively, according to Animashaun’s additional testimony to the court.

He claimed that following the alleged scam, the first, second, third, seventh, and eighth defendants moved some of the money to individuals in various banks.

According to the prosecutor, the offences committed contravened Sections 8(a), 1(1)(a), 2(a) and 7(2)(b)of the Advance Fee Fraud and other Fraud Related Offences Act, 2006, and punishable under Section 1(3) of the same Act.

All the defendants pleaded not guilty to the charges.

Following the defendants’ not-guilty plea, the prosecutor asked the court to remand them till the determination of the charges against them.


But, F. F. Abisagbo, the attorney for the defendants, informed the court that he had submitted a bail application on behalf of his clients and that it had been delivered to the prosecution.

The prosecutor informed the court that he had not received the application.

The defendants’ application for bail was not present in court, the judge further confirmed.

Judge Ambrose Lewis-Allagoa then directed that the defendants be remanded in the care of the Nigerian Prisons Services and set the trial’s start date for April 27.




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