Guaranty Trust Bank (GTBank) has returned $2000 Project Seed Fund sent to Samuel Fajana, a student ambassador of Paragon One, a US-based company that promotes remote externship among students.

Samuel confirmed the development to FIJ on Friday.

“The payment has been returned to my company this evening. I’m very grateful for the help your team provided in helping me resolve this issue,” he said.

Samuel explained that after FIJ’s story on GTBank’s refusal to release the money, he received a call from a staff member of the bank asking him for the details of the transaction in order to resolve it.

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FIJ had reported how GTBank refused to release the fund despite first confirming its receipt to Samuel in April.

When Samuel’s project at Paragon One was selected for seed funding, he was asked to provide a personal account by the organisation.

After he opened a domiciliary account with GTBank, the organisation sent him $2,000 in April, but the bank failed to release it to him.

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When Samuel visited a GTBank branch in Ekiti, he was asked to show evidence of the payment. He even agreed to receiving the money in naira rather than dollar but still did not get it.

Although the student is expected to finish the project by August, he was unable to start on time because of the bank’s refusal to make the fund available.