How GTBank Bankrolled Osinbajo’s Campaign With Millions In Violation Of Electoral Law And Finance Regulations – Peoples Gazette

 Popular news medium, Peoples Gazette has in an espouse revealed how Guaranty Trust Bank (GTB) donated about 200 million naira to the campaign account of Vice-President Yemi Osinbajo, in a direct violation of the electoral act and the federal campaign finance regulations.

The transactions were a direct violation of the Nigerian Electoral Act 2010 which states in section 91(9) that “No individual or other entity shall donate more than N1,000,000.00 to any candidate.” Subsection 11 said: “Any individual who knowingly acts in contravention of subsection (9) shall on conviction be liable to a maximum fine of N500,000.00 or imprisonment for a term of 9 months or both.”

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In a cache of suspicious bank transaction records Peoples Gazette claimed to be in its possession, the financial records showed how GTBank’s Investment One fund management department allegedly paid N200 million in three increments of N100 million, N50 million, and N50 million to Mr. Osinbajo’s campaign account in the run-up to 2015 presidential election in which he stood as the running mate of Muhammadu Buhari.

According to People’s Gazette, the transactions showed a brazen violation of federal campaign finance law that prohibits the donation of more than N1 million to a candidate in a presidential race, with the law recommending harsh criminal punishment for both the giver and the receiver of any amount above the legal limit.

The documents according to Peoples Gazette also showed how Dapo Akinosun, the Managing Partner at SimmonsCooper Partners, the law firm of the Vice-President, deposited N50 million naira in two payments of N25 million into the same campaign account for Yemi Osinbajo in 2015.

Part of the espouse reads:

“Two other lawyers who also violated federal law were Olufemi Atoyebi, the Principal Partner at Femi Atoyebi and Co, and Temitope Lawani, the co-founder and Managing Partner at Helios Investment Partners. [b]They paid N10 million each, well above the allowable limit of N1 million.[/b)

“SimmonsCooper, a white-shoe law office which Mr. Osinbajo co-founded and ran until he became vice president in 2015, has been taking federal contracts under the Buhari administration.

“Investment One’s CEO Ademola Aofoloju admitted knowledge of the transactions but insisted they were not inappropriate.

“Any transactions we carry out for our clients are privileged and confidential,” Mr. Aofoloju said.

Vice-President Yemi Osinbajo is rumored to be nursing a Presidential bid after he must have used 8 years as the Deputy to the incumbent President, Muhammadu Buhari.

His aspiration is touted to clash with that of his political father and mentor, Bola Tinubu who last month indicated his intention to slug it out for the nation’s top job.