Lagos-based fintech firm, Patricia Technologies has started reimbursing customers affected by a 2022 security breach, marking a key step in its recovery efforts.
The company, which suffered the loss of over N600 million due to a cyberattack, has spent two years recovering funds and rebuilding trust with its users.
The 2022 breach led to temporary restrictions on withdrawals and spurred Patricia’s collaboration with law enforcement, resulting in several arrests, including that of a prominent politician. In response, the company outlined a two-to-five-year repayment plan, which is now being implemented.
Repayments began in phases on December 10, 2024, starting with the first batch of affected customers. Patricia’s CEO, Hanu Fejiro, in a press statement made available to LEADERSHIP, reaffirmed the company’s dedication to its customers, stating, “This repayment process represents a milestone in fulfilling our promise to make things right.”
Customers eligible for repayment have been notified via email and encouraged to update their account details on the Patricia platform. One recipient, identified as BP for confidentiality, expressed gratitude in an email: “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.”
The company advised all affected customers to monitor official communication channels for updates on their repayment timelines.