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Exclusive: GTBank accused of conspiring with SportyBet to defraud customers
Guaranty Trust Bank (GTBank) and an online sports betting platform, SportyBet Nigeria, have been accused of conspiring to withdraw funds from bank customers’ accounts.
The latest victim of this development was a customer of the bank, Baruwa Oladayo Hassan, who accused the Bodija, Ibadan branch of the bank of aiding an unauthorized withdrawal of N500,000.00 from his account by the betting company.
Baruwa told MegaIcon Magazine that he was at the GTBank branch located along UI-Ojoo road to make a transaction at its Automated Teller Machine (ATM) when he received two surprising debit alerts amounting to N500,000.
His words: “On Friday, July 2nd, 2021, I was at GTBank in front of the University of Ibadan main gate. I wanted to withdraw money from the ATM. While I was processing the transaction, I saw one OTP code (One-time password) sent to my phone, but I don’t know what it is all about, so I ignored it, and I continued with my transaction on the ATM. Surprisingly, a minute after I had made the withdrawal, still around the banking premises, I received an unauthorized debit alert of N100 first around 2:03 PM on Friday, with transaction details: – – PG-SP-ORT/PAY LANGSTAN 9999148678 , at the same spot, I got another debit alert of N499,900.00 instantly, also with transaction details: – -PG-SP ORTY/AY LANGSTAN 9999150119.”
He said he rushed into the banking hall to complain but was treated shabbily by the branch manager and his customer service attendants.
“Since last week Friday (July 2nd, 2021), I am yet to get any good response from GTBank,” he lamented. “They cannot expect me to keep quiet; half a million naira isn’t a joke; this is unfair”.
The victim, a graduate of the University of Ibadan (UI), operates a Business Centre in the city. He swore he had no knowledge of betting and had never operated any account with any betting platform, including SportyBet Nigeria.
He continued: “I was amazed because that was not the transaction I made. I entered the banking hall immediately to register my complaint. I approached one of the staff, who checked the transaction on the system. He told me that the money was transferred to one SportyBet. In my life, I have never engaged in betting. So, when I told the staff to continue searching for the money, at least, since he had identified where the money entered.
“Another female staff later joined the staff, and they placed a call to one of the customer care representatives of SportyBet (07008888888) , and the person replied that it is only GTBank that can rectify it. But, the bank feels adamant and unconcerned about the development. The staff declared that the bank could not do anything about the unauthorized transaction. That was on Friday”.
Speaking further, the victim explained that around 5:06 PM on that same Friday, he received a credit alert of a N264.99 refund out of his N500,000. He said the refund transaction email reads: transaction details: |SportyPay refunded Paystack Finance Refund|||Paystack, but he was unable to return to the bank to give updates because it was late. The bank had already closed for the day.
Baruwa accused the bank of desperately trying to twist the story and blaming him for being reckless with his ATM card, to avoid taking responsibility for the loss.
He added: “Funny enough, the bank accused me of being careless with my ATM Card, suggesting that I might have used it with POS, which is not correct, I did not make use of POS in recent times. Immediately I got the debit alert I met with the staff and they asked for my ATM card and phone, which I do use to receive a transaction alert.
“Fortunately, my ATM Card and phone were with me, so I don’t know why they were telling lies that maybe I exposed my card carelessly”, he added.
When asked about the steps taken thus far, Baruwa said, “On Monday, I went to GTBank at UI main gate again to explain to the Manager what my experience was, but he told me that they cannot do anything on the issue. I am psychologically down. I am yet to get myself together as I am talking now because the money isn’t meant for me. On Tuesday, I also visited the bank.
“All that the Branch Manager could do was to refer me to the Operational Manager. They were just tossing me around as he (Operational Manager) directed me to go to the Police station and register my complaint. Immediately, I left the bank for Sango Police Station, where I met an officer who demanded that I pay a certain amount of money before he could embark on any investigation.
“I don’t have money to sort the officer. Please, I want a thorough investigation into this matter. I have been using the bank for over 10 years; I am even surprised that GTBank can do this to me. I know that the money is not safe at home; that was why I brought it to GTBank, and I gave them my trust. They have compromised the trust I gave them. Honestly, I now doubt the bank’s sincerity.
“I am bewildered that a reputable bank that is supposed to trace the unauthorized transaction which came with reference number failed to do the needful, only to apportion unnecessary blames. I expected GTBank to track the final destination of the money. At least from there, they can continue their investigations. But they wanted to shy away from their responsibility. People are now on my neck asking for their money. Where will I get the money to pay these people? I am just a graduate hustling to make a living through my Business Centre. I doubt if GTBank is trustworthy again”, he cried.
Warning fellow customers of the bank to be more vigilant and as well monitor their accounts regularly, he said: “For now, Nigerians need to be careful because we don’t know who is next. I have also heard and read similar nasty experiences, yet the bank has not been doing anything to curtail the situation. The fact is that our money is no longer safe with GTBank.
Continuing, the customer’s statement of account obtained on Tuesday, 13th July 2021, also established the unauthorized transactions.
Checks by Mega Icon Magazine revealed that Baruwa is not the only victim as other GTBank customers had shared the same awful experiences.
On visiting an online complaints platform, https://complaintsdb.com/business/sportybet-nigeria-47923), it was discovered that some customers banking with GTBank had lost monies to the betting platform through fraudulent withdrawals from unauthorized transactions without their permission or consent.
On 7th June 2021, Ejike Chukwualuka Geraldine wrote, “I lost the sum of 500k via my GTBANK account to SPORTYPAY, which I was hearing of for the first time. God bear me witness if GTBANK does not refund me my money and fish out the guy who did this to me, that bank will fold unless God doesn’t exist. People are complaining about this yet GTbank still approves payment for it. It is either Gtbank works hand in hand with them, but I’m sure something fishy is going on. Our money is no longer safe with GTBANK. I almost became suicidal. I suffered to save that money, and yet Gtbank staff treated me like an idiot”, it read in part.
In a related development, on 17th May 2021, another victim, also a GTBank customer, Stanley Ala Halliday lamented that the sum of One hundred and eighty-three thousand naira N183,000.00 was withdrawn from his account by Sportybet without his consent.
“The sum of One hundred and eighty-three thousand naira was hacked by someone from sporty bet organization. On the 14th of May last week. A number called me at +85665149020, immediately I picked the call the whole of my account was wiped within 10 seconds. Pls, I’m begging for something to be done. Please in the name of God”, the victim submitted.
Baruwa, however, called on the EFCC, CBN, human rights organizations, NGOs, Corporate Affairs Commissioners (CAC), among others to intervene in the matter. He also vowed to explore other legal means to have his money refunded.
It was further alleged that SportyBet is using SportyPay as a payment gateway.
Efforts made by Mega Icon Magazine to reach GTBank for comments were unsuccessful.
Even, Mr Ayobami Ladipo,who is said to be the spokesperson of the bank, when contacted yesterday (Tuesday) via his cellphone number and WhatsApp, promised to call back but has not called as of the time of filing this report
The global oil market has recorded losses exceeding $50bn following massive supply disruptions triggered by the ongoing Iran war, which has now stretched to nearly 50 days.
Data from energy analytics firm Kpler showed that more than 500 million barrels of crude oil and condensate have been wiped off the global market since the crisis began in late February, making it the largest energy supply disruption in modern history.
Iran’s Foreign Minister, Abbas Araqchi, on Friday said the Strait of Hormuz had been reopened after a ceasefire agreement reached in Lebanon.
However, tensions escalated again on Saturday as Tehran warned it could shut the strategic waterway if the United States sustains its blockade of Iranian ports.
Also, U.S. President Donald Trump expressed optimism that a deal to end the conflict could be reached “soon,” although he did not provide a definite timeline.
Analysts warned that the scale of disruption could have prolonged effects on global energy stability, with shocks expected to linger for months or even years.
Providing context, Principal Analyst at Wood Mackenzie, Iain Mowat, said the 500 million barrels lost is equivalent to grounding global aviation demand for 10 weeks, halting all road transport worldwide for 11 days, or shutting down the entire global oil supply for five days.
Further estimates showed that the lost volume is nearly equal to one month of oil demand in the United States or more than a month’s supply for Europe. It also represents about six years of fuel consumption by the U.S. military and could power global shipping activities for approximately four months.
The crisis has significantly affected oil-producing nations in the Gulf, with output losses reaching about eight million barrels per day in March—roughly equivalent to the combined production of two of the world’s largest oil companies.
Jet fuel exports from major producers, including Saudi Arabia, Qatar, the United Arab Emirates, Kuwait, Bahrain, and Oman, dropped sharply from 19.6 million barrels in February to just 4.1 million barrels recorded across March and April combined. Analysts said the shortfall could have powered about 20,000 round-trip international flights.
With crude prices averaging around $100 per barrel since the onset of the conflict, the lost volumes translate to an estimated $50bn in revenue. Experts noted that this figure is equivalent to about one per cent of Germany’s annual Gross Domestic Product, or roughly the size of the economies of smaller European countries.
Meanwhile, global onshore crude inventories have declined by about 45 million barrels in April alone, while total production outages have risen to approximately 12 million barrels per day since late March.
Industry experts cautioned that unless a lasting resolution is reached, the disruption could intensify volatility in global oil markets, worsen inflationary pressures, and further strain fragile economies worldwide.
A member of the House of Representatives representing Ibarapa East/Ido Federal Constituency and Chairman of the House Committee on Federal Roads Maintenance Agency, Aderemi Oseni, has been nominated for a Special Award in Politics at the 2026 City People Political Awards.
The nomination was conveyed in a letter dated April 13, 2026, signed by the Publisher/Editor-in-Chief of City People Magazine, Seye Kehinde.
The development was disclosed in a statement issued by Oseni’s media aide, Idowu Ayodele, and made available to journalists in Ibadan on Thursday.
According to the statement, the lawmaker earned the nomination in recognition of his “outstanding contributions to politics in Oyo State, particularly in Ibarapa East/Ido Federal Constituency.”
The organisers noted that Oseni emerged as a nominee following a comprehensive review of performances across sectors by the award’s selection committee.
Part of the letter read, “Having performed creditably well in your sector last year, the Organising Committee presented you as a nominee in your sector.”
The award ceremony is scheduled to hold on Sunday, May 3, 2026, at Etal Hall, Kudirat Abiola Way, Oregun, Ikeja, Lagos, at 4pm.
The City People Awards is an annual event that recognises individuals who have distinguished themselves in governance, public service and other sectors of national development.
The Kaduna Electricity Distribution Company has announced a crackdown on individuals who assault its staff, warning that offenders will face prosecution and public exposure.
In a statement issued on Thursday, the company expressed concern over what it described as a “disturbing surge” in attacks on its field workers and third-party partners.
It noted that the affected personnel were mainly engaged in meter installation, revenue collection and maintenance of electricity infrastructure.
According to the firm, the increasing cases of harassment, physical assault and unlawful detention of its workers pose a serious threat to employee safety and the stability of electricity service delivery across its franchise areas.
The Deputy Managing Director, Abubakar Mohammed, said the company would no longer tolerate any form of aggression against its workforce.
“Let this serve as a clear warning to anyone who engages in the assault of our staff. Kaduna Electric will pursue every case to its logical conclusion,” he said.
“We will work closely with security agencies to ensure offenders are brought to justice and face the full weight of the law,” Mohammed added.
He further disclosed that the company would publicly reveal the identities of individuals found culpable.
According to him, names, photographs and other details of offenders would be published on the company’s official platforms as well as in national and local media.
“This measure is intended to ensure accountability and serve as a strong deterrent. Anyone who chooses to attack our personnel should be prepared not only to face prosecution but also public exposure,” he added.
The company stressed that assaults on utility workers attract serious legal and financial consequences, noting that offenders risk criminal charges that may lead to fines or imprisonment.
It added that perpetrators could also face civil liabilities, including compensation for medical treatment, psychological trauma and loss of work hours.
While condemning the attacks, Kaduna Electric urged customers to adopt peaceful and lawful means of resolving disputes.
It advised aggrieved customers to channel complaints through its customer service units or appropriate regulatory bodies.
The management reaffirmed its commitment to protecting its workforce and partners, stressing that a safe working environment is essential for delivering reliable and efficient electricity services.
Although disputes between electricity providers and consumers are often linked to billing issues, metering challenges and service delivery concerns, the company maintained that such matters must be resolved through dialogue, insisting that violence against its staff will no longer be tolerated.
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