The Central Bank of Nigeria (CBN) has warned that bank customers who fail to return funds erroneously credited to their accounts risk between five and 10 years imprisonment.
The warning was issued by the CBN Governor, Olayemi Cardoso, at the stakeholders’ engagement of the CBN Listens Programme held in Ibadan, Oyo State, on Thursday.
Cardoso, who spoke through the bank’s spokesperson, Mrs Hakama Sidi Ali, said any customer who knowingly retains money mistakenly transferred into his or her account would be liable to prosecution.
He cautioned Nigerians against sharing personal and banking details with fraudsters, noting that such actions expose accounts to abuse.
The governor said the CBN Listens Programme was initiated to deepen engagement with stakeholders, correct misconceptions about the apex bank’s policies and obtain feedback for improving the financial system.
Cardoso also reminded bank customers that unresolved complaints not addressed by their banks within the stipulated time can be escalated to the CBN’s Consumer Protection and Financial Inclusion Department for necessary action.
