EFCC Arrests Abuja Bank Manager For ‘Hoarding N29m New Notes’

EFCC Arrests Abuja Bank Manager For ‘Hoarding N29m New Notes’

The Economic and Financial Crimes Commission (EFCC) has arrested a bank manager for allegedly hoarding new naira notes.

The scarcity of the new notes has caused a crisis across the country, with thousands of Nigerians queuing for hours at ATMs and banking halls to withdraw money.

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), said the apex bank was being sabotaged while announcing a new deadline for the circulation of old naira notes.

He also revealed that the bank had enlisted the help of anti-corruption agencies to track down saboteurs.

The Independent Corrupt Practices and Other Related Offenses Commission (ICPC) recently announced the arrest of a bank manager who was attempting to stymie the circulation of the new naira.

Read Also [BREAKING] Naira Redesign: Court Bars CBN From Extending Deadline For Use Of Old Naira Notes

On Monday, EFCC spokesman Wilson Uwujaren announced that the agency had sent its men to various banks in Abuja, and that the manager of one of the banks had been arrested for refusing to allow the loading of new notes into the bank’s ATN despite having N29 million in new notes.

According to Uwujaren, when the money was discovered, EFCC officials ensured that it was distributed to customers who had waited in line for hours without receiving the new notes, while the manager was arrested.

He said, “This discovery, which indicates a sabotage of the government’s monetary policy by some banks, was made by the EFCC in continuation of the ongoing surveillance and visit to banks across the country to access their vaults and verify whether they were deliberately refusing to dispense the redesigned Naira notes.

“More than five bank branches were covered today by the operatives in Abuja. Similar exercises were ongoing in Zonal Commands across the country. The operation will continue until normalcy is restored to the banking system.

“Nigerians finding it difficult to access their funds at any bank and suspects foul play should contact the commission, for immediate intervention.”

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