A Lagos-based teacher and freelance journalist, Akeem Alao, has cried out for help after N119,624.99 mysteriously disappeared from his First Bank account following a failed online transaction, with the funds yet to be reversed more than a month later.
Alao narrated his ordeal to News Reporters, explaining that he attempted an online payment using his First Bank ATM card on July 27, 2025. Although the transaction was unsuccessful, the amount was debited from his savings account and has remained unreversed to date.
“After the transaction read ‘unsuccessful,’ the sum of N119,624.99 was debited — and up till now, it has not been reversed,” Alao lamented.
When he contacted First Bank customer care for clarification, he said the response only deepened his frustration.
According to the bank’s message, the money had been placed on lien — a temporary hold — pending the merchant’s claim.
The bank’s response read in part: “Hello Akeem Alao Babatunde, thank you for contacting us and we empathize with you on the issue raised. Enquiry shows the disputed amount (N119,624.99) has been placed on lien (temporary hold). Please be advised that lien is for the transactions initiated with your Mastercard that the merchant is yet to claim. This implies the lien would be lifted and credited to your account if not accepted by the merchant within 30 days. Please provide proof that the transaction failed, if applicable, to help facilitate the removal of the lien. Otherwise, you would have to wait until the lien expiry date of 26-08-2025.”
Shocked by the development, Alao questioned why an innocent customer should be left stranded for so long over a failed transaction.
“I wonder why I will have to wait till August 26 for reversal. I’m stranded. Which kind of country is this?” he lamented.
With his account still reflecting the loss, Alao is now appealing to the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) to intervene and compel First Bank to reverse the funds without further delay.
“Today is August 27. The reversal has not been done. All messages to the bank’s customer service line throughout yesterday (August 26) were ignored,” he added.
The disputed transaction occurred on July 27, 2025, with the debit linked to his First Bank savings account number 3059887912.
