Home GOSSIP Student hits goldmine as ecobank pays him 50k for five failed transactions...

Student hits goldmine as ecobank pays him 50k for five failed transactions (Screenshots)


An elated 300 level student of the department of agricultural extension and management in the University of agriculture, Umudike has shared a post of how he received fifty thousand naira from Ecobank PLC over poor banking services.


According to him, he read about a new directive from the central bank of Nigeria ordering banks to pay a fine of ten thousand naira to customers and he took advantage of it to shortchange his bank.

Narrating further, he revealed that Ecobank was notorious for poor services and he acted on their incompetence to earn the sum.

He wrote,



I am wrecking Ecobank with this new CBN directive. If you bank with ECObank you will understand when I tell you the hazzles we suffer as customers.

Not to bore you, I am collecting my pound of flesh from the worst bank institution in Nigeria. When I am done, they will live up to expectation of what is expected from modern professional banking services.

After I read about the CBN directive and how it will help customers to quickly recover their money after every failed transaction, I got to work.

Poor mobile app service and 2G network was my strategy. With 2G, Ecobank mobile app transfer will always return an error message which I used to earn 50k already and expecting more cash out.

After tweaking your phone network to 2G, login your Ecobank mobile app and attempt to transfer 5k to UBA account number 2059872906.

The transfer will never work over 2G network, screenshot and send to CBN e-mail.



The sanction took impact from October 2nd, 2018.

The apex financial institution said this in a round on the regulation on immediate interbank digital funds switch companies in Nigeria, signed by its director of banking and funds methods division, Dipo Fatokun.

All Deposit Money Banks, microfinance banks, different monetary establishments, cellular cash operators, improvement finance establishments, fee service suppliers and different stakeholders throughout the nation are directed to adjust to the directive.

CBN additionally said that delayed utility of inward Nigeria Instant Payment (NIP) into beneficiary’s accounts past 4 minutes would entice a penalty price of N10,000 per merchandise.

The CBN said, “The sanctions above and any other prescribed in the Nigeria Bankers’ Clearing System rules or any amendment thereto, shall apply.”


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