NAIROBI, January 28, 2026 — M-Shwari has dismissed allegations of fraud raised by a customer who claimed that money was irregularly withdrawn from his account, stating that internal reviews found the claims to be factually incorrect and unsupported by account records.
The allegations were made earlier this month by Brian Aballah, who took to social media between January 21 and 22 alleging that funds he had saved on the M-Shwari platform had disappeared. Aballah claimed that an unknown person had registered a SIM card using his identification details and transferred the funds to an NCBA Bank account.
In a statement issued on Tuesday, M-Shwari—operated jointly by Safaricom and NCBA Bank—said it had reviewed the matter and directly engaged the customer through its Customer Experience team.
“Following a review of the matter, we wish to clarify that the allegations are factually incorrect and inconsistent with the customer account records,” the statement read.
The digital lending and savings platform said it had requested that the claims be withdrawn and cease being circulated, noting that the allegations had caused anxiety among some users.
M-Shwari reaffirmed that it is regulated by the Central Bank of Kenya and is trusted by millions of Kenyans with their savings, adding that it remains committed to safeguarding customer funds and providing reliable financial services.
The firm also encouraged customers with concerns about their accounts to engage directly with its support teams for clarification or resolution of any genuine discrepancies.
“We remain committed to transparency, fair and constructive engagement,” the statement added.
The matter has since drawn public attention on social media, amid heightened sensitivity around digital financial security.
