“GTBank Is Starving My Family”: Civil Servant Accuses Bank of Aiding Insider Fraud, Withholding Entire Salary

A federal civil servant, Innocent Mgbemena, has raised serious allegations of suspected insider fraud against Guaranty Trust Bank (GTBank), claiming the bank’s negligence and failure to rectify a fraudulent loan transaction has plunged his family into unimaginable hardship.

Mgbemena, whose salary account is domiciled at the Creek Road branch of GTBank in Apapa, Lagos, recounted how his nightmare began on March 19, 2025, when he received two unsolicited credit alerts—the first, a Quick Credit loan of N967,355.64, and shortly after, a salary advance of N37,800—none of which he requested.

“I was shocked and alarmed. I knew something was wrong immediately,” Mgbemena said. “I had not applied for any loan, not to mention a near-million-naira credit. I rushed to the nearest GTBank branch at Ojodu Berger to report the incident, hoping to stop any possible misuse of the funds.”

But before he could reach the bank, Mgbemena says his worst fears came true. In rapid succession, N700,000 was transferred from his account to Caleb Monday Phillip via a PalmPay account. Moments later, another N200,000, followed by N67,000, and then N37,000, were all debited and sent to the same recipient—all within an hour. Even his balance in the account was also cleared.

“I stood there in disbelief as my money was drained in real time. It was like watching a robbery happen and being completely powerless to stop it,” he said.

Upon arriving at the Ojodu Berger branch, Mgbemena claims he was told by GTBank customer service representatives that the fraudulent activity was likely the work of an insider. He was asked to write a formal complaint and submit an instruction to block the account.

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“They casually told me it was probably an insider job. But that was it—they did nothing else. I had hoped that would be the start of a resolution, but instead, it became the beginning of my financial ruin,” he lamented.

Despite his immediate complaint and later follow-ups—including a letter submitted by a firm of chartered accountants he engaged to interface with the bank—GTBank allegedly refused to reverse the fraudulent loans. Worse still, the bank reportedly continued to deduct his monthly salary to repay the Quick Credit and salary advance he never requested.

“Since March, GTBank has taken every kobo of my salary to repay a loan I never took and never used. My children are out of school. We can barely afford food. My family is suffering because GTBank failed to protect my account and has refused to take responsibility,” Mgbemena said through tears.

“This is not just about money anymore. It’s about human dignity. GTBank has robbed me of that. They are punishing me for their own failure to secure their systems and stop insider fraud.”

Mgbemena is now appealing to the management of GTBank to immediately investigate and refund the entire amount illegally debited from his account. He also called on the Central Bank of Nigeria (CBN) to urgently intervene and ensure banks enforce stricter security protocols to protect depositors from internal compromises.

“The CBN must step in. This is a clear case of system failure and criminal negligence. If this could happen to me—a government worker with traceable income—who is safe?”

“I just want my life back. I want my salary restored. I want GTBank to stop treating me like a debtor when I am the victim here.”

Efforts to get an official comment from GTBank on the matter were unsuccessful as of the time of filing this report.

This case adds to growing concerns about insider fraud in Nigerian banks, and raises urgent questions about the effectiveness of internal controls, customer protection, and accountability in the banking system.