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Keeping erroneous bank credit attracts 5-10 years’ jail — CBN

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Keeping erroneous bank credit attracts 5-10 years’ jail — CBN

23 Oct, 2026

The Central Bank of Nigeria, on Thursday, warned Nigerians that failing to refund wrongly deposited money to the rightful owner attracts 5-10 years’ imprisonment, and cautioned bank customers against sharing their personal details with fraudsters. The CBN Governor, Olayemi Cardoso, who explained that the act falls under financial crimes that attract severe punishment, gave the warning during the stakeholders’ meeting themed, “Central Bank of Nigeria Listens Programme,” held at Jogor Event Centre, Ibadan, Oyo State...........................READ MORE