22/09/2026
What would you do if you received 500k into your bank from a stranger?
What the law says:
Section 383 of the Criminal Code defines stealing to include fraudulently converting property to one's own use, with the requisite dishonest intention. It also recognises that, for money, an intention to use it at one's will can amount to fraudulent conversion even if repayment is contemplated.
What should the recipient do?
If you receive ₦500,000 from an unknown sender:
Do not spend or withdraw the money.
Take a screenshot or save the transaction details, including the sender's name, amount, date, and reference number.
Contact your bank through its official customer service channel and report the unexpected transfer.
Ask the bank to investigate and advise on the proper reversal procedure.
If someone contacts you claiming to be the sender, do not transfer the money to a different account merely because they ask. Let the bank verify the transaction and handle any reversal.
If the bank or law enforcement asks questions, provide truthful information and retain your records.