GTBank Photo: Inshot
By Our Reporter
An account holder with the Guaranty Trust Bank, Stella Adepegba, has said customer’s fund are not safe with the bank while accusing the bank of negligence after fraudsters allegedly stole ₦2.59m from two accounts belonging to her and her daughter within 24 days.
Adepegba, who spoke with The PUNCH on Monday, said the incidents occurred on 8 October and 1 November, 2026, with the perpetrators allegedly transferring funds without authorisation or security notifications.
She said ” The implication of these targeted attacks on my bank accounts is that no customer’s funds are safe with GTB, and if anything happens, the bank will not accept responsibility or offer any succour whatsoever,” she lamented.
She accused the bank of failing to refund the money despite repeated complaints and assurances that the matter would be resolved.
According to her, the first incident involved her daughter, Victoria Adepegba, whose Child Saver’s Account was allegedly compromised on 8 October at about 8pm.
She explained that ₦2.507million was transferred through the Nigeria Inter-Bank Settlement System Instant Payment channel in four transactions, leaving less than N2,000 in the account.
Adepegba said N399,000, N398,000 and N220,000 were transferred to a Moniepoint account bearing the name Abdulmalik Idris, while another N1.49million went to a GoMoney account bearing the name Zainab Ibrahim.
She alleged that no debit alerts were received, adding that a GTBank employee informed her of the transactions and offered to block the account after the money had already been withdrawn.
The complainant said she reported the incident at the bank’s Kubwa branch in Abuja on 9 October and was instructed to document the unauthorised transactions.
However, she alleged that the bank subsequently sent an email attributing the transactions to compromised login credentials, an explanation she rejected.
Adepegba said another ₦80,000 was fraudulently transferred from her personal GTBank account on 1 November to a FairMoney account bearing the name Jamilu Ahmad, bringing the cumulative loss to ₦2.587 million
“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. The bank must refund the stolen funds and go after those who masterminded the fraud,” she said.
She insisted that her mobile phone, SIM card and ATM card were in her possession during both incidents, adding that she neither disclosed her banking credentials nor received OTP requests.
NATIONAL WAVES reached out to Oyinade Adegite, General Manager, Chief Communication Officer of GTBank over the development, she said she had issued a statement and promised to forward same to NATIONAL WAVES, she was yet to forward same at the time of filling this report
But a reaction published by The PUNCH quoted an unnamed GTBank spokesperson who stated that the incidents had been investigated and feedback provided to the customer.
The spokesperson attributed the compromise to customer-side security vulnerabilities, explaining that fraudsters increasingly deploy sophisticated phishing techniques to obtain banking credentials.
“Immediately this came up, it was escalated and investigated, and feedback has been given,” the spokesperson said.
The spokesperson explained that customers could unknowingly compromise their accounts by clicking malicious links that install malware that can capture sensitive information.
“Now, it’s a phishing link you might click on that sometimes would actually install malware on your phone,” the spokesperson said.
She maintained that the bank had implemented the necessary security safeguards, including two-factor authentication, and insisted the compromise originated on the customer’s end.
“All the measures the bank has to put in place for us, 2FA, everything was done. So, the compromise came clearly from the customer,” she stated.
However, she expressed sympathy for the losses and said she would follow up on the second incident to explore possible intervention.
