Thu. Apr 25th, 2024


CBE Ethiopian Commercial Bank Warns Its Account Holders

Commercial Bank of Ethiopia
Commercial Bank of Ethiopia

CBE Ethiopian Commercial Bank, which suffered an unprecedented service shut down and huge revenue loss on Saturday, warned its customers today. Ethiopia is facing both financial and security challenges.

According to a statement by CBE, some fraudsters are trying to rob bank customers by offering them services to open closed accounts.

When CBE services were disrupted on Saturday, several account holders received messages that their accounts had been blocked. The bank today announced that it is conducting inquiries into these complaints.

Meanwhile fraudsters are contacting bank account holders, asking personal information including log in information from the customers. The scammers are demanding money for opening blocked accounts.

CBE Ethiopian Commercial Bank is warning account holders against sharing personal information and paying to anyone to get accounts unblocked.

On Saturday, CBE lost billions of Birrs after its systems were hit by a glitch which let customers make thousands of illegal money transfers. Yesterday the bank announced the formation of a task force to recover its losses.

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By Chala Dandessa

I am Lecturer, Researcher and Freelancer. I am the founder and Editor at ETHIOPIANS TODAY website. If you have any comment use as email contact. Additionally you can contact us through the contact page of

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