Man loses N980,800 in GTB account fraud

Patrick Oluyemi, a Lagos State resident, reported the theft of N980,800 from his Guaranty Trust Bank (GTB) account on April 26. Oluyemi recounted that the money was stolen through a series of unauthorized web purchase transactions while he was at a car repair shop.

“I was at a car repair shop working on a vehicle I just purchased when the incident happened,” Oluyemi told FIJ. “I brought out my phone to transfer money and then started receiving strange debit alerts.”

The unknown fraudster made four withdrawals of N200,000 each, followed by transactions of N100,800 and N80,000. Despite complaining with GTB immediately, Oluyemi has not recovered the stolen funds.

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GTB responded to Oluyemi’s complaint by suggesting his debit card details had been compromised. “I find the bank’s explanation very difficult to believe,” Oluyemi said, insisting he had not compromised his account details.

The fraudulent transactions included the narration “WEB MSPORT,” although Oluyemi stated he does not participate in betting activities. Efforts to resolve the issue with the Federal Competition and Consumer Protection Commission (FCCPC) and the Central Bank of Nigeria have also been unsuccessful.

FIJ has reached out to GTB’s customer care and electronic fraud units but has not received a response at the time of reporting.