MTN Nigeria Alleges 22Billion Mobile Money Paid in Error, Wants Refund
By Bashir Olanrewaju
MTN Nigeria’s mobile money unit said 22.3 billion naira was transferred in error from the payments service bank into 8,000 other banks’s accounts in 18 banks.
MOMO PSB, as the payments service bank is known, is seeking the help of the courts to recover the funds it said were erroneously disbursed in 7,000 transactions on or around May 24 this year.
In a court filing, MOMO PSB Chief Executive Officer Anthony Usoro Usoro, said the company had blocked the leakage as soon as it became aware of it and began engaging the banks for the purpose of recovery.
The legal steps being taken by MOMO PSB in filing against the banks May 30 date is an indication that its engagement with the banks has failed to yield the desired results.
No date has been set for hearing in the cases in wgi MOMO PSB is asking the court to make a ruling requiring the 18 banks to each provide details of those funds in their customers’ accounts, including cases where funds have been removed from them or the owners are no longer available.