Mikel Arteta removed the armband from the Gabon striker after he failed to return on time from a trip to France to collect his sick mother last week.
It wasn’t the first time Aubameyang has breached discipline and this latest indiscretion compounded long-standing concerns about Aubameyang’s suitability to be club captain.
However, he reportedly won’t be punished further by being ostracised from the rest of the Arsenal squad and is due to return to their London Colney training ground on Wednesday.
The Athletic say Aubameyang will be encouraged to fight for his place with an eye on Saturday’s trip to Leeds United. He won’t play any part in Wednesday night’s home Premier League fixture against West Ham.
Fellow forward Lacazette is expected to captain the side at the Emirates Stadium, having done the same in Aubameyang’s absence in the 3-0 win over Southampton on Saturday.
Lacazette is a member of Arteta’s ‘leadership group’ in the dressing room and was nominated to take the armband last weekend.
Aubameyang, 32, is Arsenal’s leading goalscorer this season with seven across all competitions and the feeling is he still has much to contribute to the team even without the captaincy.