CBN warns that keeping money paid by mistake can mean 5 to 10 years in prison

23 Oct 2026, 23:33 BST

A Nigerian 500 naira note — Photo: CBN / Wikimedia Commons (Public domain)

The Central Bank of Nigeria has cautioned that anyone who refuses to return funds wrongly paid into their account risks a prison term of five to ten years.

Banks are urged to help trace wrong transfers.
The warning follows several viral cases.

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