Sterling Bank

Sterling Bank is being investigated by the Nigeria===Nigeria Data Protection Commission due to a suspected data breach. Claims by a threat actor suggest data tied to approximately 900,000 customer accounts may have been exposed, which could severely impact its customer trust and financial standing.

The Nigeria===Anambra State Government's security vote account, from which the erroneous N100 million transfer originated, was domiciled with Sterling Bank.

Sterling Bank is involved as the financial institution where Rayham Hotel Limited and Metropolitan Autotech maintain accounts. A compliance officer from Sterling Bank testified as the first prosecution witness, providing details on loan facilities and transactions.

Sterling Bank was also subject to a data breach investigation by the Nigeria===Nigeria Data Protection Commission, suggesting that financial institutions are increasingly targeted by cyber threat actors.

Sterling Bank was one of the financial institutions through which funds were allegedly paid by victims to Adesiyan Kayode Olayinka.