Students and customers of Commercial Bank of Ethiopia withdraw over $40m after a system glitch

Commercial Bank of Ethiopia had a glitch that allowed customers to withdraw millions—more than they had in their bank accounts. 

Commercial Bank of Ethiopia is the biggest commercial bank in Ethiopia and it is currently struggling to get back the excess money withdrawn by people due to the glitch. 

The glitch was discovered on Saturday when sole customers went to the ATM to withdraw and noticed they could withdraw more than the sum they put in. 

Over $40 million has been immediately withdrawn after the glitch was found by consumers of the commercial bank which had been in existence for over 80 years. 

The bank was not aware until the media started announcing it high then took another amount of time before the glitch could be stopped. By the time this happened an enormous sum had been taken away from the bank which is reported to be up to $40m. 

Most of the people who were able to withdraw this huge sum are students of universities and immediately they noticed, they spread the word to all their colleagues in the university to come see what the Lord has done.

More than three university students partook in this and the university has released a statement urging the students to please return the money to the banks and were promised to not be criminally prosecuted for it.