Bank Customer Accuses GTBank of Negligence After Fraudsters Drain Accounts

A Guaranty Trust Bank customer in Nigeria has accused the financial institution of gross negligence after fraudsters allegedly siphoned nearly 2.59 million naira from two accounts belonging to her and her daughter within a 24-day span. The customer, Stella Adepegba, stated that the unauthorized transactions took place on October 8 and November 1, 2026, bypassing what she asserted were secure personal devices.

According to Adepegba, the initial breach targeted her daughter Victoria’s Child Saver’s Account on October 8 at approximately 8 p.m. She explained that 2.507 million naira was transferred in four separate transactions through the Nigeria Inter-Bank Settlement System Instant Payment channel, reducing the balance to less than 2,000 naira. The funds were directed to accounts held at Moniepoint and GoMoney.

The complainant alleged that she received no debit alerts during the incident and that a bank employee only notified her after the withdrawals had already been completed, offering to block the account at that stage. After reporting the matter to the bank’s Kubwa branch in Abuja the following day, Adepegba was instructed to document the unauthorized movements, but later received an email attributing the breach to compromised login credentials—an assertion she strongly disputed.

Despite subsequently changing her security details, Adepegba reported a second incident on November 1, when an additional 80,000 naira was transferred from her personal account to a FairMoney account, bringing her total reported losses to 2.587 million naira. She emphasized that her mobile phone, SIM card, and ATM card remained in her physical possession throughout both events, and that she never shared her banking credentials or received one-time password requests.

"GTB could not explain how the hackers successfully stole my money despite changing my account’s log-in details after the attack on my daughter’s account," Adepegba said. "The bank must refund the stolen funds and go after those who masterminded the fraud." She warned that such targeted incidents indicate customer funds are not adequately protected.

In response, a spokesperson for GTBank stated that the institution thoroughly investigated the matter and communicated its findings to the customer. The bank attributed the security breach to customer-side vulnerabilities, specifically pointing to sophisticated phishing techniques and malicious links capable of installing malware on mobile phones to capture sensitive information.

The bank maintained that all necessary internal security safeguards, including two-factor authentication, were fully operational on its end. Nevertheless, the spokesperson expressed sympathy for the financial loss and noted that the bank would review the secondary incident to explore potential intervention options. The dispute highlights ongoing consumer protection concerns and regulatory scrutiny facing Nigerian financial institutions regarding online fraud and security compliance.