fetswallet, a mobile money (e‑wallet) service provider, has failed to find a solution to its mobile downtime that has lasted four months. Customers can no longer access their funds for personal or commercial use.
Tosin Alade (pseudonym), a banker in Lagos, told FIJ on Wednesday that he had N172,000 in his wallet, but had been unable to withdraw from it since April.
“They keep saying they are having a network upgrade. Meanwhile, every indication shows they have disabled withdrawals,” Alade said.
He had, in several instances, sent emails to fetswallet and they promised to fix the anomaly. Whenever he requested a timeline for the fix, fetswallet always declined.
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Customers Fear fetswallet Operates Like Another Scam
Due to the prolonged downtime, many customers now think the e-money platform might be another scam.
On X, fetswallet users have been tagging the Central Bank of Nigeria (CBN), Federal Competition and Consumer Protection Commission (FCCPC) and other financial regulatory bodies to investigate the platform.
The last time fetswallet addressed their customers on the social media platform was in April, and the comments section was littered with pleas and scam allegations.
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Dear fets fam,
Please bear with us
#fetswallet #thinkpaymentsthinkfets pic.twitter.com/7HjKF48KU5
— fetswallet (@fetswallet) April 28, 2025
On its Instagram page, another social media platform, bar a Workers’ Day celebratory post on May 1, fetswallet’s latest post on the downtime issue appeared in April. The comments section had been disabled.
FIJ emailed fetswallet via three email addresses. The e-wallet company had yet to respond at press time.
The post fetswallet’s Downtime Traps Funds, Frustrates Customers for 4 Months appeared first on Foundation For Investigative Journalism.