Nigerians Keeping Wrongly Deposited Bank Funds Face Up to a Decade in Prison
The Central Bank of Nigeria has warned bank customers that refusing to return funds mistakenly transferred into their accounts carries a five to 10-year prison sentence. Speaking in Ibadan, apex bank officials reiterated that withholding unauthorized deposits constitutes a serious financial offense. The warning aligns with broader CBN initiatives to bolster accountability, transparency, and consumer protection across the domestic financial system.
The Central Bank of Nigeria (CBN) has warned Nigerians that refusing to return money mistakenly paid into their bank accounts could attract between five and 10 years’ imprisonment. CBN Governor Olayemi Cardoso issued the warning through Hakama Sidi Ali at a stakeholders’ meeting
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