The Economic and Financial Crimes Commission has returned N114 million recovered from a cyber fraud case to a microfinance bank following investigations into the unauthorised withdrawal of funds from a customer’s account.

The recovered money was presented to the financial institution on Thursday by the Acting Zonal Director of the EFCC’s Benin Zonal Directorate, Deputy Commander Sa’ad Hanafi Sa’ad.

Also read: EFCC arrests 21 suspected cybercrime fraudsters in Lekki sting operation

According to a statement shared on the commission’s X account on Friday, Sa’ad handed over a bank draft worth N114 million to Samuel Ikechukwu, a senior official of the bank.

The commission said the recovery followed a petition submitted by Ikechukwu in August 2024 after the bank discovered that one of its customers’ accounts had been fraudulently hacked.

The incident reportedly resulted in the withdrawal of money from the account without authorisation.

The EFCC said its investigators traced the stolen funds to several suspects, including Obumneme Bright, who was subsequently arrested.

Following his arrest, the commission recovered N114 million from him, which was later returned to the affected financial institution.

“Investigators traced the stolen funds to several suspects, including Obumneme Bright, who was arrested. Upon his arrest, the commission recovered N114 million from him.

“Efforts to track down the remaining suspects are ongoing,” the commission said.

The EFCC added that investigations were continuing to identify and apprehend other individuals allegedly involved in the fraud.

Also read: EFCC arrests 21 suspected cybercrime fraudsters in Lekki sting operation

The recovery underscores the commission’s ongoing efforts to investigate financial crimes and return recovered funds to victims and affected institutions.