Ethiopian bank seeks to recover millions after a technical glitch triggered massive withdrawals

NAIROBI, Kenya (AP) — Ethiopia’s biggest bank is reportedly attempting to recover more than $40 million after a technical glitch allowed customers to withdraw more than they had in their accounts. Local media said long lines formed at cash machines across Ethiopia on Saturday after the problem was discovered at the Commercial Bank of Ethiopia. The bank’s CEO, Abe Sano, said news of the glitch was spread on social media by university students, who withdrew much of the money. The bank has not said how much was withdrawn, but Abe told reporters that half a million transactions were made during the glitch. A local newspaper reported that $42 million was lost.