By Bilesanmi Abayomi
The Bank Customers Association of Nigeria (BCAN) has urged bank customers to demonstrate honesty and integrity by reporting and returning funds mistakenly credited to their accounts.
The association’s President, Prof. Uju Ogubunka, made the appeal in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday, following reports of customers refusing to refund money erroneously deposited into their accounts.
Ogubunka advised customers who receive unexpected credits to notify their banks immediately so the transactions can be investigated and corrected, regardless of whether they know the sender.
“This is a very simple thing. You get a credit you were not expecting, you did not send it, and you may not even know who sent it.
“Simple honesty says you should report it to your bank, and they should find out what caused it and correct it. That is what it should be,” he said.
He observed that some customers regard unexpected deposits as “miracle money” and are tempted to spend the funds, particularly amid the country’s economic difficulties.
“The funny aspect is that most customers see it as miracle money, maybe because of the things happening in the country.
“If somebody has not had any income for one year, and has no other place to go, and has been praying to God, and suddenly gets that kind of credit and gets the alert, the person may be tempted to say that God has answered his prayer,” he said.
Despite the economic pressures, Ogubunka maintained that customers should act ethically by reporting unexpected deposits to their banks rather than treating the money as personal income.
“Where people behave honestly and ethically, the person should report first to his bank and say, ‘Look, I received this money, I don’t know where it came from,’” he said.
He urged customers to resist spending funds that do not belong to them, noting that honesty in banking transactions would strengthen trust between financial institutions and their customers.
Ogubunka also explained that BCAN’s responsibilities include educating customers about government economic policies and helping members resolve disputes with their banks.
He said the association could intervene when a member encounters difficulties with a bank and efforts to resolve the issue directly with the institution have stalled.
“If a member, for instance, is having a challenge with a bank and is not making any positive move, the bank is stalling whatever, if he refers to the association, the association will help to intervene,” he said.
Court Sentences Man for Spending Erroneous N21.9m Credit
The warning comes amid a reported case in which an Edo State High Court sitting in Benin City sentenced Chinedu Nwabuisi to two years in prison for converting money mistakenly credited to his bank account to personal use.
Justice Irele Ifijeh convicted and sentenced Nwabuisi following his arraignment by the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
The commission said Nwabuisi converted N21,939,237.27 erroneously credited to his account by First Bank Plc following a system glitch.
The case highlights the potential legal consequences of spending funds mistakenly deposited into a bank account.