*Stella Adepegba, a customer of Guaranty Trust Bank (GTBank) Limited, in Abuja, laments the recent ‘targeted attacks’ on her bank accounts suggests that ‘no customer’s funds are safe with GTB’
Isola Moses | ConsumerConnect
Stella Adepegba, a customer of Guaranty Trust Bank (GTBank) Limited, has pointedly accused the commercial bank of negligence after fraudsters allegedly stole N2.59 million from two accounts belonging to her, and her daughter within 24 days.
Adepegba, who disclosed this development at GTBank Monday, November 9, 2026, said the illegal transactions occurred between October 8 and 1 November 1 this year.
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She also told The Punch that the perpetrators allegedly transferred funds from the two bank accounts without her authorisation or security notifications.
The GTBank customer also accused the financial institution of failing to refund the money despite repeated complaints and assurances that the matter would be resolved.
Relating her experience with the bank, Adepegba said the first incident involved her daughter, Victoria Adepegba, whose Child Saver’s Account was allegedly compromised October 8, at about 8p.m.
She further explained that N2.507 million was transferred through the Nigeria Inter-Bank Settlement System Instant Payment (NIBSS) channel in four transactions, leaving less than N2,000 in the account.
She said N399,000, N398,000 and N220,000 were transferred to a Moniepoint account, bearing the name Abdulmalik Idris, while another N1.49 million was sent to a GoMoney account, bearing the name Zainab Ibrahim.
Adepegba alleged that in the illegal transactions, she did not receive debit alerts.
A GTBank employee informed her of the transactions, and offered to block the account after the money had already been withdrawn, she noted.
The bank customer also said that she reported the incident at GTBank’s Kubwa Branch October 9, in Abuja, FCT, and was instructed to document the unauthorised transactions.
However, the bank official alleged that the bank subsequently sent an e-mail attributing the transactions to compromised login credentials, an explanation she rejected.
GTBank ‘must refund the stolen’ from accounts, says Adepegba
Adepegba said another N80,000 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 N2.587 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 the times both incidents happened.
According to Adepegba, she neither disclosed her banking credentials nor received OTP requests.
The bank customer 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.”
Bank spokesperson responds to alleged illegal transactions
Reacting to the development, a GTBank Spokesperson reportedly said that the incidents concerning Adepegba had been investigated and feedback provided to the customer.
The Spokesperson attributed the compromise of the two bank accounts to customer-side security vulnerabilities.
GTBank also explained that fraudsters increasingly deploy sophisticated phishing techniques to obtain banking credentials.
The bank’s Spokesperson also noted: “Immediately this came up, it was escalated and investigated, and feedback has been given.”
She further said that bank customers unknowingly, could compromise their accounts by clicking malicious links that install malware that could capture sensitive information in the process.
The bank as well stated: “Now, it’s a phishing link you might click on that sometimes would actually install malware on your phone.”
The Spokesperson maintained that the bank had implemented the necessary security safeguards, including two-factor authentication, and insisted the compromise originated on the customer’s end.
She explained: “All the measures the bank has to put in place for us, 2FA, everything was done.
“So, the compromise came clearly from the customer.”
The GTBank Spokesperson, however, expressed sympathy for the losses and said she would follow up on the second incident to explore possible intervention.
The allegations come amid regulatory scrutiny of Nigerian banks over consumer protection and compliance failures.
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