Police move to arrest 601 bank customers that received proceeds of N11bn Flutterwave breach

Police Action Against Fraudulent Transfers: The Nigeria police plan to arrest 601 bank customers suspected of receiving funds from fraudulent transactions linked to a Flutterwave security breach, which allowed PoS operators to exploit the system and transfer billions of naira to various accounts.

Court Proceedings and Account Freezing: Following an investigation, the police have requested the courts to freeze the accounts of those who benefited from the fraudulent transfers instead of reversing the funds, as previous motions for fund reversal were denied due to lack of fair hearing for the banks involved.