Numerous PiggyVest users across Nigeria woke up this morning to a disturbing discovery – substantial sums of money had vanished from their Flex Naira accounts overnight, BenriNews has learned.
The issue appears to have affected multiple customers, with some reporting losses amounting to over a million naira. What's particularly concerning is that users claim there are no withdrawal records or transaction notifications to explain the missing funds.
One user, identified as Victor Egboka on Twitter, reported that he discovered 1.2 million naira had disappeared from his account around 3 AM. "No trace. No withdrawal history. No email notification," he wrote in a desperate plea to the company.
Another affected customer shared her distress: "Money I kept to pay for a course, God abeg. I have no mother or father, Jesus." Yet another user reported watching their balance plummet from 348,000 naira to just 3,000 naira without explanation.
The Flex Naira feature is one of PiggyVest's most popular offerings, allowing users to save and withdraw funds flexibly while earning up to 12% interest annually. Unlike other savings plans on the platform that have lock-in periods, Flex Naira is designed to provide immediate access to funds, making this incident particularly alarming for users who rely on the account for daily transactions and emergency funds.
No Official Response Yet
As of press time, PiggyVest has not issued an official statement addressing these reports. BenriNews has confirmed that no formal communication has been released by the company regarding the situation.
Some users speculate this could be a system glitch rather than a security breach, as one Twitter user noted: "Maybe system glitch since someone experienced the same. Still, let's call them out."
However, the lack of immediate response has only intensified concerns. "The kind of messages PiggyVest will wake up to. They should better be holding an emergency board meeting. This nonsense must not repeat itself. Trust is broken by the way!" wrote another frustrated user.
Trust at Stake
This incident raises serious questions about the security and reliability of digital savings platforms in Nigeria. PiggyVest, founded in 2016, has built its reputation on providing secure savings and investment options for Nigerians, with features specifically designed to encourage disciplined financial habits.
Financial technology experts suggest that swift communication is crucial in such situations, even if the full details of the problem aren't immediately clear.
"I cannot imagine the number of messages PiggyVest will get this morning from Nigerian users... Cos' how can money just go missing like that in flex accounts? Serious beating to their ratings," commented another concerned user.
BenriNews will continue to monitor this developing situation and provide updates as more information becomes available. Users experiencing similar issues are advised to document their account status and directly contact PiggyVest's customer service.
