Kuda Bank Protects ‘Insider’ Who Wired N500,000 from Customer’s Account

Musa Abdulhakim, an Edo-based businessman, has detailed how an “insider” at Kuda Bank, Ehhiabhi Victor, withdrew N500,000 from his account on October 2, 2022.

The bank would later block him and prevent him from contacting its customer service afterwards. 

Abdulhakim explained that he was shocked when the alert popped up.  “I was shocked when I saw the debit alert of N500,000 from my Kuda account. I immediately transferred the remaining balance to my brother,” he said.

READ: One Year After Failed Transaction of N100,000, First Bank Tells Customer ‘It Has Gone’

A screenshot of Abdulhakim’s statement of account

The businessman believes the insider wanted to withdraw the money in batches.

“I sent an email to the bank but there was no response,” he told WikkiTimes, adding he had to campaign aggressively against the bank across social media platforms.

Subsequently, “a private number called me and I narrated what had happened to the caller.” According to him, the caller asked if he had clicked any link or used his card to initiate an online transaction.

READ: In 6 Consecutive Midnight Transactions, Researcher’s N6 Million Disappeared from Her Zenith Bank Account

“No one has access to my phone at all. And this Kuda account has no ATM card because I use biometrics to make transfers to others,” he explained. “Though after complaints, Kuda temporarily blocked my account but I had to protest because I use the account for business purposes.”

Later, he was asked to send an email to the bank.

A screenshot from Kuda Bank

“I sent the email to the bank and the account was later opened. But when I asked the lady about my money, she said that I have to get a court order,” he added. “I had to give police N10,000 to get the order.”

The court order


Abdulhakim stated further that he went to lodge a complaint against Victor, an insider he believes wired his money.

According to him, the bank is protecting the “insider” while they blocked him from reaching out for further resolution. 

“Whenever I tried to connect to their customer care, their number wouldn’t go through and emails kept bouncing back,” Abdulhakim said. “I can’t connect to their line any longer but when I try to call using another line, it connects. The customer care agents ended my call whenever they heard my voice.”

Attempts to reach Kuda Bank failed as contacts provided on its official page were not reachable. Also, an email sent to the bank had not been responded to as of press time.


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