(Infographics by AI)
A university lecturer in Oyo State has raised the alarm over the alleged fraudulent withdrawal of ₦9.98 million from his account with Guaranty Trust Bank.
He demanded the immediate reversal of the funds.
The professor, through his solicitors, petitioned the branch manager of the bank in Oyo, claiming that the transactions were carried out without his knowledge or authorisation.
According to the petition dated February 21, 2026, two separate transactions were allegedly executed from the professor’s account within minutes, leading to the withdrawal of a total sum of ₦9,980,000.
Details contained in the petition indicated that the first transfer of ₦4,990,000 was carried out at 10:19 a.m. to an account belonging to Isah Ahmed Ahmed, reportedly linked to the digital financial platform Paga.
“Another transfer of ₦4,990,000 was allegedly made at 10:21 a.m. to Nasir Nasir Sanusi, also connected to an account on the same financial platform.
The professor, however, denied authorising the transactions, insisting that he neither initiated the transfers nor disclosed his banking security credentials to any individual.
His solicitors further stated that at no time did their client compromise his Personal Identification Number (PIN), token, or any other security information associated with the account.
They argued that the bank owed their client a duty of care to safeguard his funds and ensure that unauthorised access to his account was prevented.
In the petition addressed to the bank’s management and copied to its legal department, the professor demanded the immediate reversal of the ₦9.98 million allegedly withdrawn from his account.
The legal representatives warned that failure by the bank to refund the money within seven days of receiving the letter would compel their client to institute legal proceedings against the financial institution.
“Our client categorically denies authorising the transactions and holds the bank responsible for the unauthorised debits which occurred within its banking infrastructure and security framework,” the petition stated.
They also urged the bank to treat the matter with urgency and ensure the swift restoration of the funds to the professor’s account.