VDM’s Arrest Spurs Mass Withdrawal from GTBank
A wave of protests has swept through Nigeria’s financial sector, with thousands of customers withdrawing their funds from Guaranty Trust Bank (GTBank) in response to the controversial arrest of popular online commentator, VeryDarkMan (VDM).
The bank is facing a crisis of confidence, with over 10,000 customers reportedly closing their accounts in less than 24 hours.
The backlash against GTBank has been fueled by accusations of complicity or silence in VDM’s detention, with many customers taking to social media to express their outrage.
The bank’s official social media pages have been inundated with over 5,000 complaints and protest messages, with hashtags such as #FreeVDM, #BoycottGTBank, and #WeStandWithVDM trending on Nigerian Twitter and Facebook.
Sources within the bank have revealed that GTBank is considering suspending select operations nationwide for up to four days, citing concerns over employee safety and the potential for digital backlash to escalate into physical disruptions.
This planned operational pause has already sparked panic among customers, who are worried about the impact on their financial transactions.
VDM, known for his incisive social commentary and large online following, was arrested on May 2, 2025, under unclear charges. His detention has sparked widespread outrage from civil society groups and digital activists, who claim that he is being targeted for exposing elite misconduct. GTBank’s silence on the matter, despite being mentioned in some of VDM’s previous exposés, has only fueled suspicions and triggered online campaigns.
The mass withdrawals have put a significant strain on GTBank’s liquidity systems and customer service infrastructure. Long queues have formed outside branches in major cities, including Lagos, Abuja, and Port Harcourt, while users on online banking forums have reported glitches and slower transfer approvals due to high traffic.
In a brief statement issued late Friday night, GTBank urged customers to remain calm, assuring them that all transactions remain secure. However, the statement’s failure to address the VDM situation has only further angered protesters, who are demanding that the bank take a clear stance on the issue.
As the online movement continues to gain momentum, observers say that GTBank needs to publicly address the controversy and engage directly with affected customers to prevent further damage to its reputation and customer trust. The bank’s handling of the situation will be closely watched, as it navigates a complex web of public opinion, customer loyalty, and reputational risk.
