Scores of Nigerians have taken to social media platform, X (formerly Twitter), to call out Guaranty Trust Bank (GTBank) over what they described as the indiscriminate and prolonged placement of their Bank Verification Numbers (BVNs) on the Central Bank of Nigeria’s (CBN) watchlist. A situation many said has left them financially paralysed.
The affected customers, who expressed their frustration in multiple posts, accused GTBank of unjustly restricting their bank accounts across various institutions, following what they claim were internal errors made by the bank, such as duplicate transfers and unresolved negative balances.
One user, @Samueli_Samueli, lamented that his life had been placed on hold for months. “My BVN has been placed on watchlist by @gtbank and it’s been months now. I can’t access any of my bank accounts across Nigeria. I’ve complained, yet no solution. This is unfair and affecting my life deeply. @cenbank please step in. Nigerians, help me tag them,” he wrote.
Another user, @okoyemekun, described his ordeal as humiliating and inhumane. “This is 3 weeks since my BVN was watchlisted by @gtbank. Even a terrorist can’t be treated the way many of us are being treated. We have refunded the money allegedly deposited twice. @cenbank tell @gtbank to lift the watchlist. You have crippled many of us financially,” he posted.
The issue appears to stem from alleged erroneous transactions during GTBank’s system upgrade, with users claiming that the bank mistakenly deposited funds into their accounts and subsequently blocked their access without proper redress — even after repayments were made.
A logistics operator, @oellogistics, appealed to the CBN, saying: “CBN please tell @PiggyBankNG to credit my @gtbank or @FlwSupport account in order to resolve the issue of an erroneous transaction which made them place my BVN on @cenbank watchlist. I have already been debited.”
Another user, @Ebuka_002, faulted the bank’s procedure, stating: “I don’t understand why @gtbank will make a mistake by transferring money into people’s accounts and then place the accounts on watchlist. I refunded the money over one month ago and they are yet to lift the watchlist from my BVN.”
The impact of these restrictions has not only been financial but also emotional. A user, @jamesegodwill1, recounted how he had been left stranded due to the restrictions, with no nearby GTBank branch to lodge a formal complaint. “Now GTBank has placed my BVN under watchlist. The little money friends used to send to me — no way to cash it. I just kill myself because of GTBank,” he lamented in a heartbreaking post.
Another user, @dimejiyakub, who said his salary had been trapped as a result of the restriction, pleaded for urgent intervention. “GTB requested you watchlist my BVN due to negative balance. I’ve normalised the account but it’s yet to be active. I’m helpless and doing Sallah in a sad state. Please help me,” he wrote.
Despite these numerous complaints, affected customers claim the bank has not offered any concrete explanation or timeframe for resolving the issue.
Efforts to reach GTBank’s corporate communications department for comments were unsuccessful as of the time of filing this report.
The bank’s official support handle, @gtbank_help, continues to receive tags and pleas from distressed customers with no public response.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
