Firm reiterates commitment to customers’ satisfaction

…Begins repayment to subscribers

Patricia Technologies, a leading financial services technology firm based in Lagos, has announced commencement and actual repayment to its subscribers who were affected by a reported security breach suffered on its cryptocurrency trading platform. The move, according to the company was in demonstration of its resilience and commitment to its subscribers,

“This development marks a significant step forward in our effort at restoration for our affected customers,” the company said in a release.

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 cyberattack 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,” Hanu Fejiro, a technology innovation expert, and CEO at Patricia Technologies, said.

Following a thorough investigation by the National Cybercrime Center of the Nigeria Police (NPF-NCCC), the 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 beginning the disbursement of funds to the first batch of affected subscribers as part of a phased repayment process. The repayment effort, which started on December 10, 2024, is expected to continue in the coming months as all affected users will receive their funds in subsequent batches.

The company said that 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 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.”

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.

Hanu said: “Patricia Technologies is a forward-thinking financial services technology company providing innovative cryptocurrency trading solutions and digital payment services out of Nigeria. We are driven by a customer-first approach and cutting-edge technology, and we are dedicated to enhancing financial inclusion and security towards enabling a more enriched financial future for our users.”