Mother cries out as ₦2.5m disappears from daughter's savings account, months after another GTBank customer lost ₦4.6m

• A woman, Adepegba, says ₦2.507 million was transferred from her daughter's Child Saver's Account in four transactions on October 8, leaving less than ₦2,000.

• She said another ₦80,000 disappeared from her personal account on November 1, bringing her reported losses to ₦2.587 million.

• GTBank said its investigation found that the compromise came from the customer's side, while Adepegba insists she did not share her banking details or receive OTP requests.

A mother has accused Guaranty Trust Bank (GTBank) of negligence after fraudsters allegedly stole ₦2.59 million from her daughter's child savings account and her own account within 24 days. The bank says the compromise came from the customer's side.

According to reports, Adepegba said that the first incident happened on October 8 at about 8 p.m., when ₦2.507 million was transferred out of her daughter's Child Saver's Account in four transactions through the Nigeria Inter-Bank Settlement System Instant Payment channel. The account was left with less than ₦2,000, she said.

She said she received no debit alerts and that a bank employee told her about the transactions and offered to block the account only after the money had been withdrawn. She reported the matter at the bank's Kubwa branch in Abuja on October 9 and was told to document the unauthorised transactions.

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She said the bank later sent an email attributing the transactions to compromised login credentials, an explanation she rejected. After the attack, she said, she changed her own log-in details, but on November 1 another ₦80,000 was transferred from her personal account, bringing the total loss to ₦2.587 million.

Adepegba said her phone, SIM card and ATM card were in her possession during both incidents, that she did not disclose her banking credentials and that she received no OTP requests. "The bank must refund the stolen funds and go after those who masterminded the fraud," she said. The recipient accounts were held at Moniepoint, GoMoney and FairMoney, she said.

The Chief Communication Officer of Guaranty Trust Holding Company Plc, Oyinade Adegite, had said, following reports, that the incidents had been investigated and feedback given to the customer. 

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She said fraudsters increasingly use phishing links that can install malware on a phone to capture sensitive information, and that the bank had put safeguards in place, including two-factor authentication. The compromise, she said, "came clearly from the customer." She expressed sympathy and said she would follow up on the second incident to explore possible intervention.

Another GTBank customer reported in August that ₦4.6 million was moved from his account through the bank's mobile app on August 22, 2026.

On October 22, the Central Bank of Nigeria said customers can escalate unresolved complaints to its Consumer Protection and Financial Inclusion Department if a bank fails to acknowledge a complaint within three days.