How to Recover Funds Sent to the Wrong Account in Nigeria

Learn how to recover funds sent to the wrong account in Nigeria with legal steps, bank procedures, and expert tips to increase your chances of reversal.

Mistakenly sending money to the wrong bank account can be one of the most stressful financial errors anyone can face. In Nigeria, where mobile and online banking transactions continue to grow rapidly, cases of erroneous transfers are becoming more common. The good news is that there are actionable steps you can take to recover funds sent to the wrong account, provided you act quickly and follow due process.

Real-Life Cases of Mistaken Transfers

Abdulrahman Musa, a Kaduna resident, mistakenly transferred ₦200,000 to the wrong account in March 2024. After filing a formal complaint with his bank, it took about a month before the funds were successfully reversed.

However, not everyone is so lucky. For instance, Sarah Anzaku shared her experience of losing ₦20,000 after transferring money to a wallet account linked to the wrong number. Similarly, Uche Kelechi could not retrieve funds mistakenly sent to a PalmPay account during the Easter period.

These cases highlight the importance of knowing the step-by-step process of recovering funds sent to the wrong account.

Why Wrong Transfers Are on the Rise

Nigeria Interbank Settlement System (NIBSS) reported that mobile money transfers rose by 74% to ₦41.5 trillion in 2024.
Over 219 million mobile connections were recorded by the Nigerian Communications Commission as of March 2024.
The World Bank Global Findex Report shows that mobile money adoption is driving financial inclusion in Sub-Saharan Africa.

With increased transactions, human errors such as inputting the wrong account details are bound to occur.

Step-by-Step Guide to Recover Funds Sent to the Wrong Account

1. Report Immediately to the Recipient’s Bank

The first and most important step is to lodge a formal complaint with the recipient’s bank. Provide:

A written complaint detailing the wrong transfer.
Proof of transaction (debit alert, bank statement, or transfer receipt).

The recipient’s bank will often place a Post No Debit (PND) on the account, preventing further withdrawals until the issue is resolved.

2. Consent of the Recipient

If the recipient of the funds agrees to a reversal, the bank can process the refund without requiring a court order. However, if the recipient refuses, the next step involves legal action.

3. Obtain a Court Order for Reversal

If consent is not given, you’ll need to file for a Court Order with the help of a legal practitioner. The process includes:

Submitting an affidavit with all transaction details.
Attaching supporting documents like bank statements and receipts.
Filing the case in the appropriate court, depending on the amount and location.

Court jurisdiction based on amount:

Lagos State – Magistrate Court (for sums below ₦10 million), High Court for larger amounts.
Abuja – District Court (for sums below ₦5 million), High Court for larger amounts.

4. Serve the Court Order

Once the court grants the reversal order, it must be served to the recipient’s bank. At this point, the bank is legally mandated to return the funds. Failure to comply could amount to contempt of court.

How to Strengthen Your Case

To increase your chances of recovering funds sent to the wrong account, ensure you:

Provide proof of debit (bank statement or SMS alert).
Show evidence that the payment was a mistake with no legitimate business ties to the recipient.
Document your complaint to the bank before litigation.
Provide the recipient’s account details from your debit notification.

Preventing Wrong Transfers in the Future

While it’s possible to recover wrongly sent funds, prevention is better than cure. Follow these tips:

Always double-check the account name and number before confirming a transfer.
Use banks or apps that provide name validation services before payment confirmation.
For large transfers, test with a small amount first before sending the full sum.

Authoritative Resources on Banking Transactions

For more insights into financial regulations and digital transactions in Nigeria, check out:

Central Bank of Nigeria for official policies.
NIBSS for verified transaction data.
World Bank Financial Inclusion Data for global reports on mobile money adoption.

Final Thoughts

Recovering funds sent to the wrong account in Nigeria is possible, but it requires quick action, proper documentation, and in some cases, legal intervention. With mobile transactions on the rise, mistakes will continue to happen, but understanding the right process gives you the best chance of getting your money back.

If you’ve mistakenly transferred funds, don’t panic—report immediately, follow due process, and escalate legally if needed.

Take control of your banking experience today. Always verify account details before hitting "send" to avoid the stress of reversal procedures.