Ethiopia's CBE bank recovers $10m taken during technical glitch - BBC News

A technical problem at an Ethiopian bank allowed people to withdraw more money than they held.

2 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, AFPImage caption, The bank lost more than $14m during the glitch on 16 MarchBy Kalkidan YibeltalBBC News, Addis AbabaEthiopia'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Most of the money was withdrawn by university students.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.

https://www.bbc.co.uk/news/world-africa-68663890

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