A bank glitch in Ethiopia has seen people being able to withdraw more money than they had in their accounts.
Early on Saturday customers of the Commercial Bank of Ethiopia (CBE) discovered that they could withdraw and transfer more money than was in their accounts.
Reports indicate that about US$40 million was transferred to other banks from the CBE before the glitch was fixed.
It was believed that most of the money was withdrawn by students, with news of the glitch spreading quickly through messaging apps.
The bank said the glitch was not because of a cyberattack and that customers’ accounts were safe. It also said the money withdrawn was only a small proportion of the bank’s assets.
Nearly 40 million people hold accounts at CBE.
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