GTB Customer Loses N4.6m in Unauthorized Transfer

On August 22, 2026, Onifade Isaac, a warehouse manager residing in Alimosho, Lagos, reported a loss of N4.6 million from his Guaranty Trust Bank (GTB) savings account due to an unauthorized transaction. The funds were transferred via the GTB mobile app to a Pocket App account belonging to Zahara’u Iliyasu.

Isaac discovered the fraudulent transaction when he attempted to withdraw money later that day and found his account depleted. He stated that he received no SMS alert or One Time Password (OTP) for the transaction, despite his phone being active.

After notifying GTB customer service, he was informed that measures to block both his account and the recipient's account were taken. However, upon visiting the bank the following Monday, he learned that the funds had already been withdrawn.

Isaac provided documentation, including an affidavit dated August 26, 2026, to support his claim and sought full restitution. A police extract dated August 27, 2026, corroborated his report regarding the lack of alerts from the bank.