It is possible that N3,130,000 will disappear from an account even with a password on the SIM card, prompt deactivation from the network provider after losing a SIM card, and account restriction from Guaranty Trust Bank (GTB) the instant a phone disappears.This was the experience of Banjo Adedayo.

Adedayo’s ordeal started on Monday, April 17, 2023, when some men forcefully collected his phone at his estate in Ogun State in the morning.

He told FIJ that, to prevent the potential loss of his funds, he promptly contacted his network provider to bar his line and informed GTB to impose restrictions on his account.

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“To be sure my account was safe, I inserted my GTB ATM card into a machine to withdraw, but the machine said my account had been deactivated. The same thing was said when I inserted my Zenith Bank ATM card in it, and it was because I had blocked them both,” Adedayo told FIJ.

Three days later, Adedayo retrieved his SIM card and went to a GTB branch in Ogun State to lift the restriction off his account, and he did that successfully, but the following morning, he could not believe his eyes.

“I woke up to the rudest shock of my life on April 21,” Adedayo said. “An email had popped up, and upon opening it, I saw that all my hard-earned N3,130,000 had been wiped out. I went to the bank to make complaints, and all they did was print me the statement of account. I went to the police and did all that I could, but to no avail.”

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In hindsight, Adedayo suspected foul play, positing that the theft might have been orchestrated internally, given the password protection on his SIM card and the swift action to restrict his bank account.

“Could the thieves be waiting for me to retrieve my SIM? Even if they did, they would not be able to steal my money. It was an inside job. I remember I was tired at the bank and wanted to go home, but this female cashier kept urging me to be patient,” he recalled.

“Later that day, she contacted me using her personal number and did not discuss anything related to banking matters. The next morning, my funds were gone. I strongly suspect an insider’s hand in this. It’s been nearly a year, and I demand restitution.”

FIJ attempted to reach GTB for comments on this matter, but despite contacting them via email, the bank refused to respond after more than 48 hours.