The Central Bank of Nigeria (CBN) has issued a stern warning to bank customers: return money mistakenly paid into your account or face five to 10 years in prison.
The warning came from CBN Governor Olayemi Cardoso, delivered through the bank’s spokesperson, Hakama Sidi Ali, at a stakeholders’ meeting of the CBN Listens Programme in Ibadan, Oyo State, on Thursday.
Cardoso said any customer who knowingly holds on to funds wrongly deposited in their account is liable to imprisonment.
He also cautioned Nigerians against handing over their personal and banking details to fraudsters.
The governor said the CBN Listens Programme exists to engage stakeholders, clear up misconceptions about the apex bank’s policies and collect feedback to strengthen the financial system.
He also reminded customers that they have a right to escalate unresolved complaints to the CBN’s Consumer Protection and Financial Inclusion Department if their banks fail to respond within the stipulated period.
