Good day NLers, A wire transfer of over $10,000 was sent to my friend's GTB on May 22, 2015 and till date, it hasn't reflected in his domiciliary account. I couldn't offer him much advice because my own dorm account is held under a corporate entity while his own is an individual account. Has anyone recently received an excess of $10,000 into an individual dorm account?? Or you have an idea about the inner working of stuffs like this?? Please your advice/opinion is kindly needed......

Note-: My friend's dorm account has been receiving funds on monthly basis between $8k - $9.5k and there has never been an issue. The money is usually cleared and made available within 24hrs.

It's normal as you can see in every banking hall the obligation of each bank to report transactions in excess of $10000 or more to financial authority. What is not normal is when they are doing that without communicating to you to provide the proof of what the money is meant for. I sent like that to a friend last year about $12k and GTBank held it for days before calling him to prove the essence of the fund. Then they applied it to his account.

arbitrage:
It's normal as you can see in every banking hall the obligation of each bank to report transactions in excess of $10000 or more to financial authority. What is not normal is when they are doing that without communicating to you to provide the proof of what the money is meant for. I sent like that to a friend last year about $12k and GTBank held it for days before calling him to prove the essence of the fund. Then they applied it to his account.

Thanks bro, he just called me now that the money has been cleared.