Lagos-based financial technology firm, Patricia Technologies, has commenced repayments to customers impacted by a security breach in 2022.

This follows a two-year period where the company focused on recovering funds and rebuilding trust.

In 2022, Patricia experienced a significant cyberattack, resulting in the loss of over N600 million from customer accounts.

Following the breach, the company temporarily restricted withdrawals and collaborated with law enforcement, leading to the arrest of several suspects, including a prominent politician.

The company had previously requested a two-to-five-year repayment window, a plan that has now begun to be implemented.

The company has started disbursing funds to affected customers in phases, with the first batch of payments initiated on December 10, 2024.

The company’s CEO, Hanu Fejiro, emphasised the company’s commitment to its customers, stating, “This repayment process represents a milestone in fulfilling our promise to make things right.”

He encouraged customers to update their information on the Patricia platform and monitor official channels for further updates on their individual repayment timelines.

Subscribers who 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.”