The Commercial Bank of Ethiopia finds itself in dire financial straits following a technical malfunction allowing customers to withdraw funds exceeding their account balances.
With an estimated $40 million at stake, the bank faces an uphill battle to rectify the error and regain stability.
Surprisingly, reports indicate that university students were the initial beneficiaries of the glitch, leveraging social media to spread awareness and capitalize on the opportunity to withdraw significant sums.
The widespread exploitation of the error has exacerbated the bank’s predicament, prompting urgent measures to recover the misappropriated funds and address the underlying technical issues.
The bank is now attempting to recover a reported $40 million.
Source: OccupyGh.com
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