A Lagos-based customer of Guaranty Trust Bank (GTBank), Onifade Isaac, has alleged that N4.6 million was transferred from his savings account without his authorisation.
Isaac, a warehouse manager, said the money was transferred from his GTBank account on August 22, 2026, to a Pocket App account bearing the name Zahara’u Iliyasu.
According to him, he did not initiate or authorise the transaction and did not receive an SMS alert or One-Time Password (OTP) for the transfer.
Isaac said he only discovered that the money was missing later that day when he attempted to withdraw funds for a family need and was informed that his account balance was insufficient.
A statement from his account reportedly showed an outward transfer of N4.6 million to “Pckapp – Zahara’u Iliyasu” at about 11:49 a.m. on August 22.
He immediately contacted GTBank’s customer service department after discovering the transaction.
Isaac said the bank instructed him to block his account and also requested that the recipient’s account be blocked, with a “Do Not Debit” restriction placed on it.
However, he alleged that he was subsequently informed that the money had already been withdrawn or used by the recipient.
The customer has since obtained an affidavit from the Chief Magistrate Court of Lagos State and filed a police report over the alleged unauthorised transfer.
In his affidavit, Isaac maintained that no OTP was sent to authorise the mobile application login or transfer and that he received no SMS debit notification, despite his telephone line being active and in his possession.
He is demanding the immediate reversal and full refund of the N4.6 million.
The development has raised fresh concerns about the security of mobile banking transactions and the effectiveness of banks’ responses to disputed electronic transfers.
However, the allegations against GTBank have not been independently established.
As of the time of the report, efforts to obtain a response from GTBank regarding the customer’s allegations were unsuccessful.
