Moniepoint Refunds ₦64,000 After Unauthorised Debit Report

In Short

A Nigerian lecturer who reported unauthorised debits has received a ₦64,000 refund from Moniepoint. The refund covers the Moniepoint leg of a wider ₦2.058 million loss across three accounts.

What Happened

Moniepoint refunded ₦64,000 to Kelechi Chika Ubaku, a lecturer from Imo State, after he reported unauthorised transactions.

According to a report published on September 11, 2026, Ubaku said he lost a total of ₦2.058 million through multiple transfers he did not authorise. The disputed transfers happened across his accounts with GTBank, FirstBank, and Moniepoint.

FIJ said it contacted Moniepoint on Wednesday to ask why the ₦64,000 had not been returned, despite Ubaku’s claim that he had served the company with a court order that Moniepoint requested. Moniepoint told FIJ the complaint had been escalated to the appropriate team for quick resolution.

Ubaku later confirmed the ₦64,000 refund landed the same day.

In the earlier account of the incident, Ubaku said the transactions took place on August 11. He said ₦780,000 moved from his GTBank account into a GoMoney account, and another ₦1 million left minutes earlier to a different GoMoney account without an alert. He also said ₦214,000 left his First Bank account, and ₦64,000 left his Moniepoint account.

Why It Matters

Unauthorised debit cases are a trust issue for Nigeria’s digital finance sector, especially when users rely on bank apps and fintech accounts for savings.

This case also shows how chargeback and refund timelines can depend on internal escalation and documentation. A court order is a legal instruction, and customers often struggle to understand what is required, and how long resolution should take.

The bigger question is whether the remaining banks involved will refund the rest of the claimed loss, and how responsibility is assigned when money moves across multiple institutions and recipient accounts.