The Guaranty Trust Bank (GT Bank) has refunded the sum of N700,000 to Damilare Abiodun Atobatele, a GT Bank customer who lost N2.5 million to multiple unauthorised transactions.

The refund came four days after FIJ reported how the sum of N2.5 million left Atobatele’s account in November and was used for online purchases on Paystack without his consent.

“GT Bank just refunded N700,000 through Paystack. It remains a balance of N1.8 million. That is the update for now,” Atobatele wrote to FIJ.

He had narrated to FIJ how a customer representative at a GT Bank branch in Bodija, Ibadan, told him he authorised the transactions after he lodged complaints about how N1.6 million was moved from his current account to his savings account and was later used for online purchases using his ATM card details.

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Atobatele changed his ATM card to avoid a reoccurrence, but days later, he received debit alerts for multiple withdrawals that totaled N950, 000. Like the first, it was also moved from his current account to his savings account, where it was used for online purchases through Paystack.

When he went to the bank to lodge complaints, he was told the transactions were done using his ATM card details. This baffled Atobatele because he had just obtained a new ATM card from the bank.

All efforts to retrieve his money proved abortive until FIJ reported the incident seven months after it happened.