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Africa Live: Ethiopian bank recovers over $10m lost during glitch - BBC News Africa Live: Ethiopian bank recovers over $10m lost during glitch - BBC News
(32 minutes later)
Kalkidan Yibeltal By Jenny Hill
BBC News, Addis Ababa BBC News, Johannesburg
Ethiopia’s South Africa's governing ANC wanted to stop the party backed by the ex-president from running in May.
largest commercial bank has said it recouped more than three-quarters of money
it had lost after a technical glitch allowed clients to withdraw or transfer
more money than they had in their accounts.
In a press statement on Tuesday the
head of Commercial Bank of Ethiopia Abe Sano said more than $14m (£11m) was
withdrawn from cash machines or transferred to other accounts during the incident that took place on 16 March.
More than $10m has already been
recovered, Mr Abe said.
Initial reports by local media said the amount of
money transacted during the glitch could be as high as $40m.
Many of the
transactions were made by university students.
According to the bank’s chief, thousands of clients returned the money voluntarily.
He added that those who haven’t
done so could face criminal charges.
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