The Central Bank of Nigeria (CBN) has warned bank customers that knowingly refusing to return money mistakenly transferred into their accounts could lead to imprisonment for between five and 10 years.
CBN Governor Olayemi Cardoso issued the warning through the bank’s spokesperson, Hakama Sidi Ali, during a stakeholders’ meeting under the CBN Listens Programme held in Ibadan, Oyo State, on Thursday.
According to the governor, individuals who knowingly retain funds mistakenly deposited into their accounts could face serious legal consequences. He also cautioned Nigerians against sharing their personal and banking details with fraudsters to avoid falling victim to financial scams.
Cardoso explained that the CBN Listens Programme was established to engage stakeholders, clarify misconceptions about the bank’s policies and gather feedback to improve the country’s financial system.
He further reminded bank customers that they have the right to escalate unresolved complaints to the CBN’s Consumer Protection and Financial Inclusion Department if their banks fail to address their concerns within the stipulated timeframe.
The warning serves as a reminder to Nigerians to handle mistaken bank transfers responsibly, report unexpected deposits to their banks and take precautions to protect their financial information.
Note: Anyone who receives money unexpectedly should contact their bank and follow its official procedures rather than spending or transferring the funds.
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