With bitcoin, you have full control.

[Charles-Tim]

There was a time I made a transaction through my GTbank master card to order an item on Konga, the transaction failed. I called Konga, they told me the money is with GTBank that I should go to the bank. I went to the bank and I was told to fill a report form which I did. I did not get refund back. I went to the bank two times. It was ₦5960 but that was 2012.

There are many news that I have read online that people will voice out about how bank want to scam them. But if we can see many news like that, how many would have happened that these banks officials have stolen from people. It happens frequently. The one I read about 2 days ago but surfaced on the news 10 days ago shocked people. You can watch it here:

https://youtu.be/bMDO89sArdU?si=05hHenX9T1y-BLPl

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

[Solodoski]

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

People usually invest in what they know and trust. most old persons in their late fifties upwards will prefer saving millions in the bank because of a petty interest and because it is what they have been used to.

Even with several cases of theft that are carried out by bank officials, you can't talk them out of making that decision because, at their prime, it is what they are used to. Bitcoin might have its issues, but most time it is usually a function of the negligence of the holder of the asset.

If this case is with bitcoin, the owner of the asset has complete control of it, and for any loss that has happened, it is usually 70% the negligence of the holder and the remaining 30% might just be factors that he can't handle.

When you relinquish the control of your asset to the bank, the bankers, and the bank itself will be hoping that they are able to steal from you so you don't get your asset back. 55 million naira stolen from just a single person? This shows how ineffective the banking system is.

[Felicity_Tide]

There was a time I made a transaction through my GTbank master card to order an item on Konga, the transaction failed. I called Konga, they told me the money is with GTBank that I should go to the bank. I went to the bank and I was told to fill a report form which I did. I did not get refund back. I went to the bank two times. It was ₦5960 but that was 2012.

2012?, the banking system wasn't as stressful then, compared to now. I guess that was why you were even able to pay them a visit twice, which you wouldn't think of doing in this present day 

There are many news that I have read online that people will voice out about how bank want to scam them. But if we can see many news like that, how many would have happened that these banks officials have stolen from people. It happens frequently.

Nigerian banks and scams, I will call them 5&6.
I have witnessed bank scams, so I'm not even surprised at this point.
The last one I witnessed was actually a scam attempt on a child that should probably be around 17-19 years old. I don't really know how the child's BVN ended up with the manager, but about 40K was missing from his account. I think the manager ended up sending back the money after threats from those who heard about the issue.

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

It's just a simple tactics. Banks now wait for a specific number of years/months to see if a dormant account will be touched again, and in the case of the victim, N500million was literally lying for too long, so they had to start taking their cuts piece by piece, thinking the owner might be dead or something.

And, I don't know how effective the court will be considering the culprit involved. We know how flexible the judiciary system is. But it is good that the case is on the media, so settling outside the court might just be the best and next option for the bank. N500Million is not a joke.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

An elderly man with so much faith in the judiciary system, I felt like crying for him. I just hope it turns out good for him. March 26 is tomorrow, and Firstbank hasn't made any statement via any platform, finger crossed.

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

There is literally no debate between Bitcoin and the banking system.
If you know how things works here, you won't have any issue. Just as life teaches us a lesson, Nigeria banks also teaches us a lesson in this country in one way or the other.

[HajiBagi]

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

People usually invest in what they know and trust. most old persons in their late fifties upwards will prefer saving millions in the bank because of a petty interest and because it is what they have been used to.

Even with several cases of theft that are carried out by bank officials, you can't talk them out of making that decision because, at their prime, it is what they are used to. Bitcoin might have its issues, but most time it is usually a function of the negligence of the holder of the asset.

If this case is with bitcoin, the owner of the asset has complete control of it, and for any loss that has happened, it is usually 70% the negligence of the holder and the remaining 30% might just be factors that he can't handle.

When you relinquish the control of your asset to the bank, the bankers, and the bank itself will be hoping that they are able to steal from you so you don't get your asset back. 55 million naira stolen from just a single person? This shows how ineffective the banking system is.

Everything get advantage and disadvantage bank get advantage and disadvantages same as Bitcoin too, if not be now bank is a place where we trust and to the extent we can’t do without it because they are the ones that we grow up and see, I know that many people have get issue with banks and banks have becoming a place where instead of saving money with them it will be better you keep it at home, i have heard many stories about banks and that really affect banks because the youths and young people find it difficult to believe trust them.

You can control your assets when it comes to Bitcoin but that doesn’t mean that you can’t also lost your assets, when it comes to Bitcoins when your wallet is hacked and you got scammed it will be very difficult to get information about it how it happened but banks can get any information and how your money is being stolen unless they don’t want to give you your money but if you sued the banks they must give you back money, a bank can not steal your money and go free because they are also scared of losing customers.

[Obim34]

Banks are thieves, it's fucking unwise to entrust our wealth with banks, never should anyone leave whole portions of their money in the bank, if for any life sudden incident, at your dismissal everything ever owned are going down the pit, not a single dime will be transferred to your family or children.

I can tell that there are big businessmen who own accounts that their family knows nothing about, one's the account gets inactive for long time, banks begin to pull out funds little by little, time without recall we have heard various news concerning such immoral behaviors, banks should not be issued live savings, we should learn how to decentralized our savings and not put all into central services like banks.

[Gozie51]

Well na old person though and I will not be surprised if no be politicians or one of those perm sec wey don collect people salary go fix or those MDs because na wetin dey enrich them be that. To have that kind of money for fix, you can imagine properties and floating capital he has. Anyways...

So now you have exposed something too about the advantages of bank regards to theft or stealing of fund from person account. At least now the papa know where to trace him money go unto say him know say him no withdraw am. Behold... him carry bank go court because him sabi say na bank hand the money.

If na person coin go miss like that being say you misplace or expose password, btc that is sent to a wrong wallet may not find it way back. We need to be careful whether we are using noncustodial wallet or not, we have secure our passphrase safely.

[Doan9269]

There are many news that I have read online that people will voice out about how bank want to scam them. But if we can see many news like that, how many would have happened that these banks officials have stolen from people. It happens frequently.

All these are part of the failures we had with the use of the commercial banks because the entire system is not being transparent enough, many have been scammed form the use of this same traditional financial system and lost their fortune for life, some are being seized and some people couldn't not just know how they could stop the financial authority from taking actions on their behalf, but bitcoin came and change the whole thing for the favour of the masses, we can have our own privacy, control and determine when should our transaction be sent and rate to be charged affordable by us.

[EL MOHA]

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

This is something I have heard of multiple times, most of the victims are usually those that use fixed deposit accounts if they leave the account untouched for many years banks usually tempered with the amount in the account. Most of these cases are common in court most especially if the owner of the account is deceased, the next of kin or deceased family are usually keep in the dark about the amount in deceased has. Some bank officials even go to learnt of lying that the deceased has a loan with them and the money was used to pay back that loan.

With bitcoin the only risk is losing of seed phrase aside that except the owner uses a CEX if not there is no third party to his wealth.

As for the only payment failure you mentioned, I have of recently been use to using bitcoin or other crypto as a means of payment except If the platform doesn’t accept crypto payment method

[Amphenomenon]

Every bank are not to be trusted, they are still manage by humans, who may likely be controlled by greed and then can do anything to get their hands on customers funds.

Aside this reason, they could leak customers data ine way or the other for scammers and theft to get access or contact to them. This was among the main reason I wasn't surprised at the Gt bank data breach. I remembered when I tried to get a debit card there and after the registration, got calls from scammers about it.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

An elderly man with so much faith in the judiciary system, I felt like crying for him. I just hope it turns out good for him. March 26 is tomorrow, and Firstbank hasn't made any statement via any platform, finger crossed.

I don't think he will lose the case while going through the comments, I could see others speaking of him being more eloquent than his lawyer, I think he already has all proof of winning the case and the fact that this is now in the public, firstbank would be careful of their move after all they won't want to be tainted black by all but this would definitely make other become cautious of their funds in first bank and any other bank.

I think one thing he mat suffer behind the scene would be potential death threat but the fact that he is a businessman and having such amount in a bank on fixed deposits shows that this may not be his first time dealing with issues that may have potential death threats or law cases.

[CryptSafe]

I can't remember the last time I went to the bank for anything and as a matter of fact, the banking system in our country is a shamble of itself. They are just too backward in anything they do and are always looking for means to extort money from their customers. I have read many stories online on how bankers steal from their customers and so not feel any remorse for their evil acts and they always cover it up with their so called charges just to make it look like they are right for their actions.

As a Crypto enthusiasts, of what point is it to have anything doing with the bank when you have your self custodial wallet to help keep your funds and assets safe. Bitcoin is there as a store of value and also doubles as an investment so why going to the bank to keep funds when you can control your assets yourself, trade with it to yield more profits rather than having it in the custody of a third party who uses your funds for business to make more profit for themselves and gives you peanuts with outrageous charges coupled with theft and cheating.

[Felicity_Tide]

I don't think he will lose the case while going through the comments, I could see others speaking of him being more eloquent than his lawyer, I think he already has all proof of winning the case and the fact that this is now in the public, firstbank would be careful of their move after all they won't want to be tainted black by all but this would definitely make other become cautious of their funds in first bank and any other bank.

I think one thing he mat suffer behind the scene would be potential death threat but the fact that he is a businessman and having such amount in a bank on fixed deposits shows that this may not be his first time dealing with issues that may have potential death threats or law cases.

I never said that he was going to lose the case. I agree with you that he has all the evidence, which his already a win on his part, but you and I know the country we live in, where we sometimes address black as white, and white as black. The only thing that the victim is demanding for right now is his money, so that's why I think Firstbank will prefer to settle it out of court, so as to avoid further follow up from the media, and also further compensation for stressing out the victim(which is done in the western world).

The only problem I foresee is the issue of adjournment.
There is enough evidence, but several adjournment can happen just to buy sometime to settle the issue. You made mention of threats, which is also true, but I will be hoping that the judiciary system proves me wrong, thereby making judgement on the case as soon as possible.

[letteredhub]

Banks are thieves, it's fucking unwise to entrust our wealth with banks, never should anyone leave whole portions of their money in the bank, if for any life sudden incident, at your dismissal everything ever owned are going down the pit, not a single dime will be transferred to your family or children. .

I use to hear about how bankers could go around the community inquiring and investigating about certain customers they are no longer seeing visiting the bank anymore and their account balance just been static without any transactions long enough from when they stopped visiting the bank. This inquiries is purposefully not for the interest of the bank account owner but to know if the person is deceased so they can steal the money from the account in that there family members none is also with knowledge about the very account. I never believed about this initially when I heard until a banker friend confirmed it among some of their bosses.

If you have accounts with banks make sure to inform your family members about them and the documents if possible, don't be extremely secretive so you don't leave your family to poverty while some strangers enjoy your wealth should the unthinkable happens to you in a flash.

[laijsica]

Banks are thieves, it's fucking unwise to entrust our wealth with banks, never should anyone leave whole portions of their money in the bank, if for any life sudden incident, at your dismissal everything ever owned are going down the pit, not a single dime will be transferred to your family or children.

I can tell that there are big businessmen who own accounts that their family knows nothing about, one's the account gets inactive for long time, banks begin to pull out funds little by little, time without recall we have heard various news concerning such immoral behaviors, banks should not be issued live savings, we should learn how to decentralized our savings and not put all into central services like banks.

I think this is your misconception. Banks keep your deposits properly while you are in fear of thieves or robbers to protect you. Your local bank provides the highest security for your cash funds. If you wish, you can remain cashless by keeping your money in the bank and the security of your money is maintained by the state. Banks are responsible to the state for the proper storage of the money of every citizen.

The unethical behavior you have mentioned about banks is largely not correct. It is possible that a person working in a bank may be involved in such unethical behavior and it does happen in some cases. But most of them are subject to punishment. It would not be fair to blame the bank for such activities because the bank is an independent financial institution run by the state.

[Curious T]

Its so sad that in this country you still need these banks for your everyday transaction because people don't accept bitcoin for payment, the once that d are very, very few, so we have no choice but to still deal with these banks.
Sometimes you make pay for something and you have to do a back and forth to the bank on multiple occasion before the issue is resolved. Sometimes they hit you with the "wait for seven working days" line. It's so frustrating.

[Belarge]

Our local bank workers and managers are thieves and there was a news I read some time ago and there was an investigation that VERYDARKMAN carried out ago about a bank trying to scam a woman of her either late son or husbands money that was in millions and I guess it was because the account has been dormant for long and they thought no one was going to coke for it and even after someone came for it, since it was an elderly woman, they wanted to play too smart on her but I guess she was the wrong person for them.
Make this one be one thing wey go give us more courage to invest more in digital assets over these thieves institutions called bank.

[Gozie51]

Our local bank workers and managers are thieves and there was a news I read some time ago and there was an investigation that VERYDARKMAN carried out ago about a bank trying to scam a woman of her either late son or husbands money that was in millions and I guess it was because the account has been dormant for long and they thought no one was going to coke for it and even after someone came for it, since it was an elderly woman, they wanted to play too smart on her but I guess she was the wrong person for them.
Make this one be one thing wey go give us more courage to invest more in digital assets over these thieves institutions called bank.

A lesson for those wey go wish to die intestate (not having a will before dying). Person suppose make at least one person sabi certain things about him finance so that at least if the person die, the properties and finance wey him acquire no go just go like that. Or how we think say some bank top ranks dey make money, some money dey wey nobody dey come for na (wetin you think say go happen to such huge pepper). Some people are selfish not to disclose wetin dem get for different parts of the country and the world to people wey dey close to them either because of trust or family challenge but make dem try, at least a will will suffice.

Omo me I still feel say even out wallet passphrase shouldn't be known by just you oo. You fit get someone wey you go still carry style let know how e dey be or you write am down explicitly for exercise book and keep for your house so that one day they can search go the exercise book.

"Death say if we dey talk make we still dey talk about am". That one na proverb.

[Spaceman1000$]

There was a time I made a transaction through my GTbank master card to order an item on Konga, the transaction failed. I called Konga, they told me the money is with GTBank that I should go to the bank. I went to the bank and I was told to fill a report form which I did. I did not get refund back. I went to the bank two times. It was ₦5960 but that was 2012.

There are many news that I have read online that people will voice out about how bank want to scam them. But if we can see many news like that, how many would have happened that these banks officials have stolen from people. It happens frequently. The one I read about 2 days ago but surfaced on the news 10 days ago shocked people. You can watch it here:

https://youtu.be/bMDO89sArdU?si=05hHenX9T1y-BLPl

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

I saw the news too, from what i read, the man stays overseas, which is why I blame him, if you stay oversea and you've been seeing over the years how naira has be depreciating since 1984 when it all started, why would you have the guts to deposit suck kind of amount in a depreciating economy, why not save it overseas where you stay, at least that's more of a safe harbor.

As for the Bank staffs, that has been their modus operandi, once they notice a particular account has been inactive for years, by inactive i mean there has not been withdrawals or deposit in an account, and the said account is holding a good amount of money, the staffs will start by testing the waters with minimal amount of withdrawal to see if anybody will come and make official complain, hence nobody comes in a given period of time, they will systematically syphon that account, and I think that's the unfortunately thing that happened to that man. Omo saving your asset in Bitcoin is the best oh, u no go wake up one morning hear say everything for your wallet don commot, except you you lose guard your account seedphrase and password to hackers or fraudulent people.

[Juicyhome]

Our local bank workers and managers are thieves and there was a news I read some time ago and there was an investigation that VERYDARKMAN carried out ago about a bank trying to scam a woman of her either late son or husbands money that was in millions and I guess it was because the account has been dormant for long and they thought no one was going to coke for it and even after someone came for it, since it was an elderly woman, they wanted to play too smart on her but I guess she was the wrong person for them.
Make this one be one thing wey go give us more courage to invest more in digital assets over these thieves institutions called bank.

The banking system in Nigeria has not good regulatory agent to monitor the banks transaction and deposit is what the bank say is final. We are really backwards n out banking system, in fact all sections of the economy are corrupt.

The very dark man issue with access bank is a obvious fact that the bank are scammers and the government have  no control over them. See how they frustrated the woman and lied that there was no money at the end they accepted there was money. Bankers are thieves, once they notice a customer is dead they will withdraw from his account and present a fake statement of account to the family.  That's why I advise we save in bitcoin for our children, it's easy for them to assess it than banking system. Just reserve the secret phrase of your wallet for them.

[Lida93]

I always tell people that whenever someone money in their bank account get missing or stolen which they are sure they didn't share any information about them to anybody, then they should know that definitely a bank official has idea about that heist. The level of security layers the banks in Nigeria has it can't be possible for some small fraudster to sit in his small corner and hack into their system to steal a meager sum of cash, except for a well equipped hackers with advance tech gadgets, they would be stealing hundreds of millions to billions if they ever get successful with the hack. I say this again, bank officials are the problem of bank security breaches today.

[Agbe]

I was using Palmpay from 2022 to 2023 and that was when I when I became fully aware of all these online apps Banking. And this Palmpay of the bank were deducting my funds without my approval for nothing and they are times they would saved the money in the saved box without my permission and and when I want to transfer it back to my main wallet balance they would deduct a good amount of money as their percentage because the stipulated time has not reached. And there was a day, a faithful day, they deducted my N1500 with notification that it was deducted because of something and I contacted them and they didn't give me any reason and I blocked, delete and uninstall the app and also blocked all their messages both in email and phone. So I am free from them right now.

And Opay sef wanted to do that so I chatted them immediately and told them that if they try am I go delete the account and since that day till I am peacefully using Opay.

Saving your money in Bitcoin is the best because there is no deduction and worry of anything.