By Adeyinka Adeniran
A University lecturer and renowned scholar (names withheld) has petitioned the management of Guarante Trust Bank (GTBank) over fraudulent withdrawal of about N10 million from his account, demanding immediate reversal.
The petition, signed by his solicitor from Solanke and Solanke Chamber explained that two separate transactions were carried out in less than three minutes with almost five million withdrawn each time, to make a total of about N10 million.
In the petition, a copy of which was sent to the legal department of the bank, the Don explained that he was neither the one who carried out the transactions, had the knowledge of the transactions nor gave any authorisation for the alleged transactions.
He furthered that, at no time did he compromise his Personal Identification Number (PIN), token, or any other security information associated with the account.
The solicitor maintained that the bank owed their client a duty of care to safeguard funds and ensure that unauthorised access to his account was prevented.
He demanded the immediate reversal of the allegedly withdrawn from his account, warning that failure by the bank to refund the money within seven days of receiving the letter would compel their client to institute legal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.
He called on the Central Bank of Nigeria (CBN) and all other relevant regulatory agencies of the bank to come to his aid to secure the refund of his money, alledging that the bank is gaining reputation for cyber fraudulent practices and swindling of their customers
The petition, dated February 21, 2026, a copy of which was sighted by The Nation reads in part, “We write on our Client’ s firm instructions regarding two unauthorised debit transactions carried out today, Saturday, 21 February 2026, resulting in the total withdrawal of the sum of ₦9,980,000.00. 00 (Nine Million, Nine Hundred and Eighty Thousand Naira Only) from his account.
“The details of the transactions are as follows:
1. 10: 19 a. m. – ₦4,990,000.00. 00 transferred to: Name: Isah Ahmed Ahmed, Account No.: 2535940707, Bank: Paga Bank
“2. 10: 21 a. m. – ₦4,990,000.00. 00 transferred to: Name: Nasir Nasir Sanusi, Account No.: 3790458393, Bank: Paga Bank
“Our Client categorically denies authorising the above transactions. He further confirms that at no time did he disclose or compromise his Personal Identification Number (PIN), token, or any other security credential linked to his account.
“In the circumstances, our Client holds the Bank responsible for the unauthorised debits, which occurred within your banking infrastructure and security framework. The Bank owes our Client a duty of care to safeguard his funds and prevent unauthorised access.
“Accordingly, we hereby demand the immediate reversal of the total sum of ₦9,980,000.00. 00 to our Client’ s account within seven (7) days of receipt of this letter.
“Take notice that failure to comply with this demand within the stipulated period will leave our Client with no alternative but to institute appropriate legal proceedings against the Bank without further recourse to you.
“Attached herewith are the transaction details for ease of reference. We trust this matter will receive your urgent attention.”
