Lagos entrepreneur Rasheed Muraina is yet to recover ₦1.05m wrong transfer despite a court order, raising digital banking concerns
Rasheed Muraina, a Lagos-based entrepreneur, has been unable to recover ₦1.05 million mistakenly transferred to a wrong bank account, months after a court ordered that the funds be returned.
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Muraina made the erroneous transfer on August 10, 2025, while attempting to move money from his OPay wallet to his business account, MKO RasHtech.
A technical error reportedly caused him to input an incorrect account number during the transaction.
According to Muraina, the mistake occurred in two stages. He initially transferred ₦250,000 to the wrong account, then unknowingly sent an additional ₦800,000 to the same account number, bringing the total loss to ₦1.05 million.
Muraina said he contacted OPay customer support immediately after discovering the error and was first assured that the funds would be reversed. He was later advised to obtain a court order to enable the refund process.
On October 31, 2025, a Customary Court in Oyo State issued an order directing the receiving bank to reverse the ₦1.05 million back to Muraina’s OPay account.
The order was formally submitted to all relevant parties on November 10, 2025.
Despite the directive, the funds have not been refunded. Muraina said repeated follow-ups have yielded no result.
Foundation for Investigative Journalism contacted OPay for clarification on the delay.
The fintech company requested Muraina’s details and later stated that it had forwarded the court order to the receiving bank.
OPay said it was yet to receive a response but had issued reminders to the bank involved.
As of the time of reporting, the ₦1.05m wrong transfer remains unrecovered, raising concerns about delays in resolving erroneous digital transactions and the effectiveness of consumer protection mechanisms within Nigeria’s fast-growing fintech sector.
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The case highlights growing public anxiety over accountability in electronic banking, especially when legal orders fail to prompt timely action.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
