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15,000 Ethiopians willingly return free money gotten from Commercial Bank glitch 

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Ethiopians

15,000 Ethiopians, mostly youths have returned the money they withdrew from Ethiopia’s largest commercial bank following a system glitch that allowed customers to withdraw more money than they had in their bank accounts.

According to AP news, the Commercial Bank of Ethiopia (CBE) said it has recouped over 80% of the money lost to the system glitch that occurred weeks ago.

Abe Sano, the President of the commercial bank told reporters that about $14 million was withdrawn or transferred to other banks during the glitch as opposed to the $40 million that was earlier reported.

He stated that withdrawals ranged from 9 cents to $5,350 by the over 15,000 people who took advantage of the systems glitch during a routine maintenance and inspection activity by the bank weeks ago.

The Bank president commenting on the remaining 20% of stolen funds yet to be recouped said the amount of money is insignificant to the Bank’s coffers.

The majority of the Ethiopians who withdrew or transferred money from the CBE during the glitch on March 16 were university students as the news of the glitch first hit various university campuses.

Universities in the country have publicly pleaded with university students to return the stolen funds to the commercial bank.

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