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Ethiopia's biggest commercial bank has been scrambling to recoup large sums of money withdrawn by customers after - what is being called - a "systems glitch" at the Commercial Bank of Ethiopia (CBE).

Local media reported that more than $40 million (拢31m) was withdrawn or transferred to other banks by people who took advantage of the situation.

The President of the CBE Abe Sano joined Newsday from Addis Ababa to issue an ultimatum for the return of the money by the end of "this week".

"Yet we didn't disclose the figure, which is way under what is quoted. There are about 10,000 customers [being asked to return money]. Mostly they were university students, they transacted online... but we know what they did, we have the record of every transaction that happened."

"What kind of relationship can we have with thieves."

(Pic: Ethiopian currency; Credit: AFP)