4 necessary things to do when an unknown person deposits money into your account

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The Economic and Financial Crimes Commission (EFCC) recently arraigned a man who refused to refund the N2million paid into his account.

The story resonated across Nigeria as many have been in the same situation before.

While some have been tempted to spend such monies, others have been disciplined enough to stay away from spending the money and instead call the attention of the appropriate authorities concerning the funds.

Yinka Ogunnubi, a finance professional with extensive experience in corporate treasury and finance spanning 15 years, has taken time to educate Nigerians on what to do if they find themselves in such a situation.

Ogunnubi who is also an author reeled out four major steps to take to address the situation.

They are:

1. Notify your bank in writing and ensure it is acknowledged by the bank.

2. If it's established that it was a mistaken transfer, ensure that determination is put in writing by the bank with details of the true beneficiary provided.

3. If contacted by the owner of the fund with a request to transfer, route the request through your bank in writing.

4. Preferably, request that the bank should reverse the transfer themselves rather than you transferring yourself.

This ensures that you have nothing to do with both ends of the transaction.

He added: “Whatever you do, just don't touch the money.”