Get the above error when the execute immediate is called in a loop
Update CustomersPriceGroups set 1AO00=:disc Where cuno=:cuno
Parameters: disc=66 c
In addition to reasons cited in other answers here, you may also need to check that none of your table column names have a name which is considered a special/reserved word in oracle database.
In my case I had a table column name uid. uid is a reserved word in oracle and therefore I was getting this error.
Luckly, my table was a new table and I had no data in it. I was a able to use oracle DROP table command to delete the table and create a new one with a modified name for the problem column.
I also had trouble with renaming the problem column as oracle wouldn't let me and kept throwing errors.