In another demonstration of its resilience and commitment to its subscribers, Patricia Technologies, a leading financial services technology firm based in Lagos, has continued repayments to its subscribers who were affected by a reported security breach suffered on its cryptocurrency trading platform.
This development marks another significant step forward in the firm’s effort at restoration for its affected customers. Earlier in the year, Patricia Technologies had requested for a two-to-five-year repayment window to enable it generate sizeable income from business operations and law enforcement recovery effort, for the purpose of repaying customers and consequently, rebuilding trust.
Patricia Technologies experienced a major cyber attack in 2022, which resulted in the loss of depositors’ funds amounting to over N600 million. In the intervening period after the security breach, Patricia temporarily restricted withdrawals on its platform to protect the interests of its users, and promptly petitioned the Inspector General of Police to report the alleged theft.
“We understand the impact this incident has had on our customers and we are delighted that the journey to restoration has finally started,” said Hanu Fejiro, a technology innovation expert, and CEO at Patricia Technologies.
Following a thorough investigation by the National Cybercrime Centre of the Nigeria Police (NPF-NCCC), the Nigeria Police recorded a major breakthrough in the case with the arrest of Wilfred Bonse, a prominent politician, and three other suspects in November 2023. A development that vindicated Patricia Technologies.
While the perpetrators of the cybercrime are currently being brought to book, Patricia Technologies has kept to its words by sustaining the disbursement of funds to some of the affected subscribers as part of the agreed phased repayment process. This phase of the repayment effort started on December 10, 2024, while other affected users are expected to receive their funds in subsequent batches.
Subscribers that are getting paid in this phase, have since been officially notified by email. One of the subscribers with initials BP (for purposes of confidentiality), expressed appreciation and satisfaction with being paid by Patricia via an email reaction: “I really appreciate your effort. Though it took a long time, I’m satisfied with what I’ve received. Thank you for keeping to your words”.
On his part, Hanu reiterated that the interests of subscribers remain Patricia’s top priority. “This repayment process represents a milestone in the fulfilment of our commitment to making things right for them. We appreciate their patience, understanding, and trust in Patricia as we hope that this refund brings them joy during this festive period”, Hanu further said.
Patricia subscribers are advised to update their details on the Patricia platform, and monitor official channels for updates regarding their individual repayment timelines.
