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Lawyers petition CBN over alleged N9.98m fraud in GTBank account

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• Demand full refund, forensic probe
• Bank insists transactions authenticated

A Lagos-based law firm, Sholanke and Sholanke, has petitioned the Central Bank of Nigeria (CBN), urging the apex bank to direct Guaranty Trust Bank Plc (GTBank) to refund N9.98m allegedly withdrawn fraudulently from the account of its client.

In a petition dated March 26, 2026, and addressed to the Director of the CBN’s Consumer Protection Department, the solicitors accused the bank of failing to exercise reasonable care and skill in safeguarding the customer’s funds.

‎According to the petition, the disputed transactions occurred on February 21, 2026, when two withdrawals of N4.99m each were processed within a two-minute interval to separate accounts domiciled with a payment platform. The law firm maintained that the transfers were unauthorised and were promptly reported by the account holder.

‎The lawyers stated that their client neither authorised the transactions nor compromised his banking credentials, insisting that he exercised all necessary precautions expected of a customer.

‎However, the bank reportedly maintained that the transactions were authenticated using the customer’s login credentials and PIN, adding that it found no infraction on its part. GTBank also said efforts to trace the funds were carried out on a “best-effort basis,” noting that the money had allegedly been dissipated through cryptocurrency channels and third-party platforms.

Dissatisfied with the bank’s position, the solicitors argued that reliance on authentication alone does not absolve a financial institution of liability in fraud-related cases. They contended that modern banking standards require institutions to deploy advanced fraud detection mechanisms capable of identifying suspicious patterns.

‎They highlighted several “red flags” that should have triggered intervention by the bank, including the high-value nature of the transactions, the short time interval between them, the use of new beneficiaries, and the near-identical amounts involved.

The petition further stressed that the bank’s duty of care is primarily preventive, adding that attempts to recover funds after transactions had been completed do not excuse what it described as systemic lapses.

‎The firm also raised concerns over potential breaches of the CBN Consumer Protection Framework and cybersecurity guidelines, warning that such incidents could erode public confidence in the banking system if not addressed decisively.

Consequently, the lawyers urged the apex bank to compel GTBank to refund the full amount to their client, conduct a comprehensive investigation into the incident, and impose appropriate sanctions where necessary. They also requested that the bank be directed to provide a detailed forensic report on the alleged breach.

‎The petition described the incident as a clear case of institutional failure, calling on the CBN to intervene to ensure that the customer does not bear the consequences of alleged lapses within the banking system.

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Late Lam Adesina’s Legacy Remains Enduring – Oseni

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon.  Aderemi  Oseni, has described the late former Governor of Oyo State, Alhaji Lamidi Onaolapo Adesina, as a political leader whose contributions to democracy, education and the development of the state remain significant.

Oseni, in a statement issued on Wednesday by his Media Aide, Idowu Ayodele, to mark the 14th anniversary of the former governor’s death, said Lam Adesina’s life and political career offered valuable lessons in courage, conviction and commitment to public service.

He recalled that the late governor, who died on November 11, 2012, at the age of 73, played an important role in Oyo State’s political history. His involvement in the struggle against military rule, particularly through the National Democratic Coalition (NADECO), reflected his commitment to democracy and the restoration of civilian rule in Nigeria.

The lawmaker who currently represents Ibarapa East/Ido Federal Constituency and chairs the House Committee on Federal Roads Maintenance Agency (FERMA) ,  also noted that Lam Adesina’s background as a teacher and journalist shaped his interest in education, public affairs and the political development of the country. He said the former governor was closely associated with the progressive political ideals of Chief Obafemi Awolowo, particularly the emphasis on education, social welfare and improving the living conditions of ordinary people.

“Lam Adesina was a politician who stood firmly by his convictions. He was part of the struggle for democracy at a time when doing so came with personal risks. His contributions to Oyo State and his commitment to the ideals he believed in remain important parts of our political history,” Oseni said.

The APC chieftain further recalled that Lam Adesina governed Oyo State between 1999 and 2003, with attention to education, healthcare, rural development and rural electrification. He noted that the former governor’s experience as an educationist was reflected in his interest in expanding educational opportunities and improving the lives of the people.

He added that the late governor’s  popular nickname, Ore Mekunnu, meaning friend of the common people, reflected his association with ordinary citizens. According to Oseni, the name remains a reminder that public office should be about serving the people and addressing their needs.

The APC Senatorial candidate noted that the annual remembrance of the late governor should provide an opportunity for political leaders to reflect on the responsibilities of leadership and the values that should guide public service. He stressed that remembering past leaders should go beyond ceremonies and tributes, adding that their contributions should serve as lessons for those currently entrusted with public responsibilities.

“Fourteen years after his passing, we should continue to remember Lam Adesina for what he stood for. His commitment to democracy, education and the welfare of the people should remind us that public office is a trust. Those of us in positions of responsibility must remain conscious of the people we serve and the legacy we hope to leave behind,” he added.

Oseni extended his thoughts to the family, political associates and admirers of the late governor, as well as the people of Oyo State. He prayed that Almighty Allah would grant his soul eternal rest, noting that his contributions to the state’s political development and Nigeria’s democratic journey remained worthy of recognition.

 

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Alli hails Arapaja at 68, calls him pride of Oyo

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The governorship candidate of the All Progressives Congress in Oyo State, Senator Sharafadeen Alli, has described former Deputy Governor Taofeek Arapaja as a brave citizen and a source of pride to the state as he marks his 68th birthday.

Alli, in a birthday message personally signed on Tuesday, praised Arapaja for his contributions to democracy, public service and good governance, describing him as a statesman whose impact on Oyo State and the country remained significant.

He said the former deputy governor had distinguished himself in various public offices through courage, loyalty, wisdom and commitment to the welfare of the people.

Alli also described Arapaja as a rare gift to Oyo State, Nigeria and humanity, noting that his record of service reflected his dedication to leadership and nation-building.

He traced Arapaja’s political journey from his tenure as chairman of Ibadan South-East Local Government to his election into the House of Representatives and subsequent appointment as deputy governor of Oyo State between 2007 and 2011 under the late Governor Adebayo Alao-Akala.

The APC governorship candidate also recalled Arapaja’s diplomatic service as Nigeria’s ambassador to Iran and later Jordan, where he served until 2015.

According to Alli, Arapaja has excelled as a family man, politician, public administrator and diplomat, earning respect through his conduct and commitment to public service.

“Ambassador Arapaja has excelled as a family man, a politician, a public administrator, a diplomat and as a patriot. In every assignment, he has demonstrated the courage to speak the truth, the commitment to serve and the passion to lift others,” he said.

Alli further described the celebrant as a bridge-builder and political mobiliser whose experience and political sagacity had continued to shape the state’s political landscape.

He added that Arapaja had remained consistent in leadership, character and service, noting that his contributions deserved recognition.
While wishing him many more years,

Alli prayed for good health, long life and renewed strength for the former deputy governor to continue contributing to the development of Oyo State and Nigeria.

“As you add another year today, I celebrate the enigma, the bridge-builder and the mobiliser. Happy 68th birthday, Your Excellency. Oyo State is proud of you,” he added.

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Oseni Hails Arapaja’s Public Service Record at 68

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Engr. Aderemi Oseni, has congratulated former Oyo State Deputy Governor, Ambassador Taofeek Arapaja, on his 68th birthday, describing his years in public office as a significant chapter in the political history of the state.

Oseni, in a statement issued on Tuesday by his Media Aide, Idowu Ayodele, acknowledged Arapaja’s contributions to public administration, legislative duties, governance and international diplomacy.

He said the birthday was an opportunity to reflect on a career that had taken the former deputy governor through different levels of public service and leadership.

“At 68, Ambassador Taofeek Arapaja has every reason to look back with gratitude on a journey that has taken him through different responsibilities in public service. His experience in local government administration, the National Assembly, the Oyo State Government and international diplomacy speaks to a life shaped by service and public responsibility,” he said.

The federal lawmaker noted that the value of leadership should not be measured solely by the offices occupied but by the impact made on people’s lives and the institutions strengthened for the benefit of future generations.

He added that Oyo State needed the wisdom of experienced leaders, stronger institutions and a collective commitment to development beyond political affiliations.

“Public service is a responsibility, not a personal entitlement. The enduring worth of any leader lies not simply in the offices occupied but in the positive difference made in the lives of the people. Our state needs the wisdom of experience, the strength of institutions and a shared commitment to development beyond political affiliations,” he added.

Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives and chairs the House Committee on the Federal Roads Maintenance Agency (FERMA), wished Arapaja good health, renewed strength and many more years of fulfilment.

He also prayed that God would continue to grant the former deputy governor the wisdom and grace to contribute to the progress of Oyo State and Nigeria.

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