Customers return $10m taken during bank glitch
By Kalkidan Yibeltal
Ethiopia’s largest bank says it has recovered almost three-quarters of the $14m (£12m) it lost in a glitch that allowed customers to withdraw more money than they had in their accounts.
Abe Sano, head of the Commercial Bank of Ethiopia (CBE) said on Tuesday about $10m has been recovered.
Thousands of customers returned the cash voluntarily. Mr Sano warned those who had not will face criminal charges.
Most of the money was withdrawn by university students.
On 16 March, news of the glitch spread across universities – largely via messaging apps and phone calls – and long lines were seen at campus cash machines.
The bank has not never explained exactly what the problem was, but the CBE said the glitch was not the result of a cyber-attack and that customers should not be worried as their personal accounts were intact.
At least three universities released statements advising students to return any money not belonging to them that they may have taken from the bank.
