By Theophilus Chibuzo Oliver

There has been a growing call for customers to withdraw their funds from GTBank accounts and to boycott any form of business with the bank.

These developments follow the apprehension of Martins Vincent Otse popularly known as VDM by the Economic and Financial Crimes Commission (EFCC) shortly after he visited a GTBank branch in the Area 3 district of Garki 1, Abuja. It was reported that he had visited the branch with his mother and an associate to raise concerns about unauthorised deductions from his mother’s account. Some individuals have alleged that GTBank colluded with the EFCC in orchestrating VDM’s arrest.

This claim has sparked outrage among certain Nigerians, prompting threats to close their accounts and withdraw all funds from the bank. While such actions may appear to be a form of protest intended to challenge the bank’s management or ownership, it is crucial to consider the wider implications of this decision. It is important to pause and ask: who would suffer the most from such collective action?

It is not the executives or shareholders who will feel the brunt, but rather everyday Nigerian workers—cleaners, cashiers, and junior staff—who depend on their employment at GTBank for their livelihoods. Their wages, although modest, are essential for their survival and that of their families.

A mass withdrawal of funds could negatively affect the bank’s financial stability, possibly leading to job losses, salary delays, or operational challenges. For the low-income staff already managing with limited resources, such an outcome could be devastating.

Before encouraging others to close their accounts or boycott the bank, we must reflect on the broader consequences. Let us not allow our quest for justice or accountability to inadvertently harm those who are already vulnerable. Responsible advocacy must always consider its impact on the most affected.

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