Opeyemi Adegun, a Lagos-based flight attendant, lamented the disappearance of 750,000 naira from her Paga Bank account after Lupen NG, an automotive e-commerce platform, specifically asked her to open one before to qualify for a car loan.
According to information on its website, Lupen NG claimed to offer interested people a loan opportunity to purchase a brand new car. People in this category are then expected to repay the loan with interest over a period of 12 to 48 months.
Adegun said she approached the company through its website for a car loan and was specifically instructed to open a Paga Bank account as part of their requirements. But soon after depositing N750,000, the capital contribution for the car she wanted, her money disappeared from the new account.
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“The deal was that after I got the car of my choice, they would pay 80% and I would pay 20%,” Adegun said.
“Then after doing documentation which included information about my place of employment, my identity, my account statement with Lupen NG, they demanded that I open a Paga account.
“When I asked to know why I couldn’t use my bank account, I was told that Paga was the only financial institution they worked with as they were the source of the loan I am borrowing.”
After opening the account as instructed, Lupen NG asked Adegun to send a screenshot of his account balance.
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“After funding the account with N750,000 and telling them about it, they demanded that I send a screenshot of the account balance as proof. Moments after sending it, I realized that I could no longer access my Paga account,” she said.
“I immediately contacted Paga and they asked me to reset my password. When I finally accessed the account after about 30 minutes, I realized my money was gone.
“I complained to Paga to refund my money, and they told me the money had been transferred by strangers to a UBA account.”
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Adegun said she was surprised at how it was possible to transfer money from her account while she did not disclose her login details or receive OTPs to confirm any transaction on the account.
“Since my money disappeared I have not been able to reach Lupen NG as they have not taken my calls and answered my messages.”
When FIJ contacted Paga, the following response was received:
“You said her Paga account was compromised and funds were transferred from her wallet to a UBA account and she did not share her login details with anyone?
“We suggest that this lady (Adegun) contact us directly with her registration number through our WhatsApp or through her linked email address so that we can investigate further and contact the bank to which the funds were transferred.”
The IFJ made several phone calls to Lupen NG seeking comment, but they received no response. A text message sent to the company also went unanswered at press time.