In a troubling incident on October 26, Atanda Samson, a contractor based in Lagos, reported the unauthorized withdrawal of N182,500 from his Union Bank account after a failed ATM transaction at the bank’s Iyana Ipaja branch.
The incident has placed Samson under considerable pressure from his client, as the funds were specifically allocated for a contracted project.
According to Samson, he visited the Union Bank ATM gallery on Iyana Ipaja Road, attempting to withdraw N20,000.
However, the machine requested his PIN twice but failed to dispense any cash, ultimately withholding his card.
Despite waiting and seeking assistance from the on-site security guard, his efforts were unsuccessful.
Samson recounted that while he waited, a bank employee and another customer successfully used the same machine, confirming that it was operational.
Yet, shortly after he left, Samson received an alert indicating a debit of N182,500 – his account’s entire balance.
He believes this transaction was unauthorized and suspects potential foul play due to the swift withdrawal following his card retention.
Returning to the bank on October 28, Samson was informed that his ATM card was not in the machine.
Dissatisfied with the response, he submitted a formal complaint to Union Bank headquarters, expressing concerns that the transaction might involve bank staff. “I do not believe an outsider could access my account within minutes without knowing my PIN,” he explained.
The transaction alert revealed a business name, “CEDETITO VENTURES,” suspected to be a Point of Sale (PoS) operator registered with the Corporate Affairs Commission and located near the Iyana Ipaja branch.
Samson theorizes that his card could have been retrieved after his departure and misused through this PoS terminal.
Union Bank’s Corporate Communications and Marketing Department responded to Samson’s complaint, promising to investigate the issue.
Favour Bukola Ayeni, the lead in external communications, confirmed receiving his report and assured FIJ that the bank would look into the matter.
The incident has raised concerns over ATM security and accountability, with Samson seeking a swift resolution to recover the funds critical for his contract obligations.
