GTBank crisis deepens as customers report unauthorized transactions

Guaranty Trust Bank (GTBank), known for its strong reputation in Nigeria’s banking industry, is facing mounting challenges after a recent system upgrade left many customers frustrated and confused.

The upgrade, which was initially announced as a success, has instead sparked a series of technical issues, leaving customers unable to access their accounts or conduct transactions for days.

What began as app failures has now escalated, with numerous customers taking to social media to report unauthorized transactions on their accounts.

Many expressed confusion over deposits and subsequent withdrawals, while others reported unexplained deductions, despite repeated complaints made through both digital and physical channels. Some of these complaints are reportedly being treated lightly by the bank, further inflaming customer dissatisfaction.

This crisis comes on the heels of earlier reports that GTBank’s website had been hacked, a claim the bank previously refuted.

However, the recent incidents have led to renewed concerns about the bank’s ability to safeguard customer accounts, with some questioning whether the bank still has full control over its platforms. The ongoing issues have cast doubt on GTBank’s competence, as the prolonged disruptions are causing financial losses for many customers.

On X (formerly Twitter), Nigerians have shared their suspicions that internal or external fraudsters may be exploiting the upgrade issues to carry out unauthorized transactions.

Some users have even suggested that fraudulent activities are being hidden under the guise of technical glitches.

Despite the growing backlash, GTBank has yet to issue any formal response, leaving frustrated customers feeling ignored.

Some are now threatening legal action, claiming that the disruption to their banking activities has led to significant financial harm. As public anger mounts, social media users are warning others about banking with GTBank, calling for accountability over the bank’s handling of the situation.