AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Act within hours: report the transfer to your own bank so it can ask the receiving bank to hold any remaining funds, report the account on Instagram, file with the police (the NPF-NCCC cybercrime portal or a station) and complain to the FCCPC if the seller is a real business. Recovery depends on money still being in the receiving account, so the odds fall quickly.
First hour: the bank
Your money went to a bank or fintech account, and that account is your best lead. Call your bank and report the transfer as fraud, giving the session ID, amount, time and the receiving bank and account number. Ask the bank to contact the receiving bank immediately and request a hold. Moniepoint's fraud page, for example, explains that a recall depends on the funds still being available, the beneficiary's consent and the bank's discretion, and that a police report or court order may be needed.
Fraud reports can lead the receiving bank to restrict the account. Moniepoint lists suspicious or fraudulent inflow among the reasons it places a Post No Debit restriction, which stops money leaving while it reviews.
Capture the evidence before it disappears
Sellers who block buyers often delete posts or the whole account. Screenshot now:
- The profile page, including the handle and any phone number or link in the bio.
- The post or story advertising the item, with price.
- Your full chat, including the account details they sent and their promises on delivery.
- Your transfer receipt and the account name your bank showed before you sent.
- Any delivery tracking or rider details they gave.
Copy the profile link as text too. A handle can be changed; the numbers behind it often stay.
Who to report to, in order
| Where | What it can do | How |
|---|---|---|
| Your bank | Request a hold and recall from the receiving bank | Phone first, then in writing with a complaint number |
| Police (NPF-NCCC) | Investigate; seek court orders for account records | Cybercrime e-reporting portal launched May 2024, or your nearest station |
| Review and remove the account | Use the report option on the profile or in the chat | |
| FCCPC | Take up complaints against businesses | complaints.fccpc.gov.ng or the phone lines on its site |
Online deception is covered by the Cybercrimes Act 2015. Section 12(2) makes it an offence to send misleading electronic messages with intent to defraud, with at least five years' imprisonment or a fine of at least ₦10,000,000.
What to put in each report
To your bank
Say clearly that this is a fraud report, not a wrong transfer, and that you want the receiving bank contacted to hold funds. Give the session ID, amount, time, receiving bank, account number and account name, and ask for a complaint number. The CBN complaints guide says a bank should acknowledge within 3 days; allow 2 weeks before escalating to the CBN Consumer Protection Department.
To the police
Give a short timeline: when you saw the advert, what was promised, when you paid, when you were blocked. Attach the screenshots and receipt. Note the case or reference number you receive and give it to your bank.
If the seller is a real business
Some sellers are not fake, only unreliable: a real shop that took payment and has not delivered. That is a consumer complaint for the FCCPC and, if needed, a civil claim; the FCCPA's rules on timely delivery of services and refunds apply. A written demand with a clear date often works better than a public argument in the comments.
Your realistic odds
Be prepared for a low chance of full recovery. Accounts used by fake vendors are often emptied within minutes of each payment. The best outcomes come when:
- you report within the hour and the receiving bank holds what is left,
- the account is in a real person's name the police can find, or
- the seller is a real but unreliable business, which makes the FCCPC and a civil claim worth pursuing.
If someone contacts you offering to recover the money for a fee, treat it as another scam. Recovery comes through your bank, the police and the courts.
Worked example
Example only. Sade pays ₦65,000 for a phone advertised on Instagram. Two hours later the seller blocks her. She calls her bank at once and reports fraud; the receiving bank finds ₦22,000 still in the account and restricts it. She files on the police cybercrime portal with her screenshots. Weeks later, after police involvement and the account holder's consent, ₦22,000 is returned. She has recovered a third and lost ₦65,000 − ₦22,000 = ₦43,000.
Before you pay the next vendor
- Check that the account name matches the business name.
- Prefer pay on delivery or a payment method that offers buyer protection.
- Be wary of prices far below other sellers and pressure to pay now.
- Search the handle, phone number and account number online and in community groups before paying; other buyers often post warnings.
Where Pryme fits
Pryme protects payments with a transaction PIN and an authenticator app rather than SMS codes; see security. If you sell online yourself, verifiable receipts help buyers trust you. Read how to check an Instagram vendor before paying, reporting fraud to the police and EFCC and the scam recovery agent scam.
Questions people ask
Instagram vendor blocked me after payment, what should I do?
Report the transfer to your bank immediately so it can ask the receiving bank to hold any funds, screenshot everything, and report to the police and Instagram.
Can my bank get my money back from a scammer?
Only if money is still in the receiving account and the receiving bank acts on it, usually with the holder's consent, a police report or a court order.
Where can I report online fraud in Nigeria?
The Nigeria Police Force National Cybercrime Centre runs an e-reporting portal; you can also report at a police station.
Can the FCCPC help with an Instagram vendor?
The FCCPC handles consumer complaints against businesses. It is most useful when the seller is a real, identifiable business.
Sources
- Moniepoint Support: Fraud (updated 9 Feb 2026) · accessed Oct 2026
- Moniepoint Support: Account restrictions · accessed Oct 2026
- Techeconomy: Nigeria Police launches platform for reporting cybercrime (31 May 2024) · accessed Oct 2026
- Cybercrimes (Prohibition, Prevention, etc.) Act 2015 (PDF copy) · accessed Oct 2026
- FCCPC: Consumer rights and responsibilities · accessed Oct 2026
- CBN: How to Lodge a Complaint (CPD/GEN/GUIDE/03, January 2022) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.