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
If the recipient of a mistaken transfer refuses to return it, your bank cannot simply take it back: CBN rules need the holder's consent where the sender made the error. Your three routes are the bank's lien and mediation process, a police report (keeping money in a refused-return case can be treated as a crime), and a civil claim in court, which is the only route that forces repayment without consent.
You have reported the wrong transfer, your bank has contacted the receiving bank, and the answer comes back: the account holder has refused. This is the hardest version of the problem, but it is not the end. This guide explains what the bank can still do, when the police become relevant, and when a court is worth it. It is general information, not legal advice; for a large sum, speak to a lawyer.
Why the bank stops at the holder's refusal
The CBN's regulation on instant interbank transfers, as summarised by G Elias, separates bank errors from customer errors. Where the bank made the mistake, it can reverse without the beneficiary's permission. Where you typed the wrong account, the beneficiary's consent is needed. The receiving bank can place a lien on the amount for up to two weeks while it asks, and if consent is not given, the banks' internal auditors mediate within a further two weeks. After that, the bank's role is largely done. Our explainer on how banks recall a wrong transfer covers this machinery in detail.
Route 1: keep the bank process alive
Before you move on, make sure the bank route has been used fully:
- Confirm in writing that a lien is in place and on what amount. A lien can only hold what is still in the account.
- Ask whether the mediation step has happened and what the recipient said. A refusal is sometimes a misunderstanding (the recipient thinks you are a scammer running a fake-credit trick) and a call from their own bank can change it.
- If your bank has not acted, complain in writing, get a tracking number, and after two weeks escalate to the CBN Consumer Protection Department (cpd@cbn.gov.ng) with your evidence; see how to complain about a bank or fintech.
- Ask both banks to keep the lien in place while you take the next steps, and tell them you are reporting to the police. A lien that expires before a court acts is the most common way these cases are lost.
Cost to you: nothing beyond your time.
Route 2: a police report
Keeping money you know was sent to you by mistake, after being asked to return it, can be reported to the police. A police report does three useful things: it creates an official record, it gives the police a basis to ask the bank for the recipient's identity (banks such as Moniepoint say they share data with police on a valid court order), and it often persuades a reluctant recipient to return the money once contacted by an officer.
Take your statement, the transfer receipt, the session ID and the bank's written response to the station or the relevant command. Our guide to a police report for a wrong transfer explains what to bring and what to expect. Cost to you: transport and time. If anyone asks for money to move your case, ask for an official receipt and decline payments that have none.
Route 3: a civil claim
A court can order the recipient to repay, and can order the bank to release funds under lien, without the recipient's consent. This is the only route that does not depend on anyone's goodwill. The trade-offs are cost and time:
| Route | Can it force repayment? | Main costs | Typical speed |
|---|---|---|---|
| Bank lien and mediation | No; needs consent | None | Weeks (two-week lien, two-week mediation under the CBN rule) |
| Police report | Not directly; can pressure and identify | Transport, time | Varies widely |
| Civil claim | Yes, by court order | Filing fees, possibly a lawyer, service costs | Months; faster in small-claims courts where available |
Filing fees and small-claims limits differ by state and change, so check with the court registry in your state before you budget. Some states run small-claims procedures meant for modest debts without a lawyer; ask the registry whether yours does and what the current ceiling is. Our guide to a court order to recover a wrong transfer sets out the steps.
A worked example: is it worth it?
The arithmetic shows why speed matters: the bigger the amount still held, the more the formal routes are worth.
What to check first
- Is a lien in place, on how much, and until what date? Get it in writing.
- Do you have the session ID, amount, time and the beneficiary name shown at name enquiry?
- Has your bank confirmed the recipient's refusal in writing, rather than by phone?
- Is the amount still held large enough to justify court costs?
- Have you told both banks you are escalating, so they do not release the lien early?
Where Pryme fits
Whichever route you take, you will be asked to prove what you sent and when. Pryme customers can generate a verifiable receipt or statement through VerifyDoc.ai, which a bank officer, police officer or court can check is genuine and unaltered (receipts and statements).
Questions people ask
What can I do if someone refuses to return money sent to them by mistake?
Keep the bank's lien in place, report to the police with your transfer evidence, and if the amount justifies it, file a civil claim. Only a court can order repayment without the recipient's consent.
Can my bank force the receiver to refund a wrong transfer?
Not where you made the error. Under the CBN instant transfer rule, the receiving bank needs the holder's consent; it can hold the money under a lien while it asks.
Is it a crime to keep money transferred to you by mistake in Nigeria?
Refusing to return money you know is not yours can be reported to the police, who may treat it as a criminal matter. A lawyer can tell you which offence applies to your facts.
How much does it cost to sue for a wrong transfer?
Filing fees vary by state and court; check with the court registry. Weigh the cost against the amount still under lien before you start.
Sources
- Mondaq (G Elias): CBN Regulation on Instant (Inter-Bank) Electronic Funds Transfer Services (8 Jul 2025) · accessed Oct 2026
- CBN: How to Lodge a Complaint (CPD/GEN/GUIDE/03, 24 Jan 2022) · accessed Oct 2026
- Moniepoint Support: Fraud · 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.