A customer of Guaranty Trust Bank (GTBank), Stella Adepegba, has accused the financial institution of gross negligence after fraudsters reportedly drained ₦2.59 million from two separate accounts belonging to her and her daughter within a 24-day period.
Unauthorised transfers and missing debit alerts
According to Adepegba, the first attack occurred on October 8, 2026, when ₦2.507 million was illicitly moved out of her daughter’s Child Saver’s Account via NIP channels into Moniepoint and GoMoney accounts.
She stated that no One-Time Passwords (OTPs) or debit alerts were received until after the funds had been fully drained.
The second incident occurred on November 1, 2026, when an additional ₦80,000 was fraudulently transferred from her personal GTBank account to a FairMoney account, bringing the total loss to ₦2.587 million.
Adepegba insisted that her phone, SIM card, and ATM card remained in her physical possession throughout both incidents, and she denied sharing login credentials.
Stella Adepegba rejects bank’s explanation
Adepegba revealed that despite reporting the incidents at GTBank’s Kubwa branch in Abuja and changing her login details, the bank sent an official communication attributing the unauthorised transfers to compromised login credentials.
“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,” she lamented. “The implication… is that no customer’s funds are safe with GTB, and if anything happens, the bank will not accept responsibility.”
GTBank blames customer-side phishing links
Reacting to the allegations, the Chief Communications Officer of Guaranty Trust Holding Company Plc, Mrs. Oyinade Adegite, maintained that an internal investigation revealed the breach originated from customer-side security vulnerabilities rather than a system hack.
Adegite explained that sophisticated phishing links or malware installed on a user’s device can capture sensitive data.
“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, though she expressed sympathy and promised to follow up on the second transaction.
The development comes amidst heightened public scrutiny of Nigerian financial institutions regarding consumer protection compliance and digital security safeguards.
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