Wasilat AzeezMomo Payment Service Bank Limited , the fintech subsidiary of MTN Nigeria, has dragged 18 commercial banks to court to retrieve N22.3 billion “erroneously transferred to 8,000 bank customers”., MoMo PSB experienced a major security breach barely a week after commencing operations, resulting in a N22 billion loss.
The request formed part of the reliefs sought in the suit filed by Lotanna Okoli, a senior advocate of Nigeria, on behalf of MoMo PSB.“A declaration that the deposits of an aggregate sum of N22,300,000,000.00 erroneously transferred by the plaintiff to the accounts of the customers of the defendant banks, having been done in error, belongs to the plaintiff and not the customers of the defendant banks,” the court filing reads.
“An order directing the defendant banks to release all information, including account name information in respect of the accounts from which the plaintiff’s funds have been transferred to third parties, including the destination accounts and the banks in which they are held to assist in the tracing and recovery of those funds.”
MTNNG 30m don finish by nw
MTNNG Wahala for Momo guys
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