ICPC Bursts Popular Commercial Bank, Discovers N258m New Notes Hidden in Vault, Makes Arrests

ICPC Bursts Popular Commercial Bank, Discovers N258m New Notes Hidden in Vault, Makes Arrests

  • As Nigerians continue to lament the scarcity of the new naira notes and fuel shortages, relevant agencies have upped their game to solve the burning issues
  • The ICPC in a statement disclosed it arrested some officials of a popular commercial bank after discovering N258m new naira notes hidden in their vault
  • Meanwhile, As the naira scarcity persists, more banks have started shutting down their branches for fear of being attacked by angry customers

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has made a new arrest, as the scarcity of the new naira notes persists.

The ICPC in a statement disclosed that its operatives found the sum of N258 million stashed in the vault at the head office of Sterling Bank in Abuja, The SUN newspaper report confirmed.

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BREAKING: CBN debunks claims Nigeria lacks capacity to print new notes

ICPC, Sterling Bank, Abuja, new naira notes
BREAKING: ICPC finds N258m in the vault of a popular commercial bank. Photo credit: ICPC Nigeria
Source: Facebook

ICPC finds N258 million new notes stashed in Sterling Bank

This finding came as a result of one of the operations the Commission carried out to ensure that commercial banks and other interest groups did not disregard the apex bank’s direction says a statement by ICPC spokesperson, Mrs. Azuka Ogugua.

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According to her, the ICPC monitoring team visited the bank on Friday and found the hidden new Naira notes in the bank’s vault.

“It was informed that the cash was the remnant of what the CBN had given the bank for onward distribution to its branches.
“The team however found out that only the sum of Five N5million each was distributed to their various branches.
“Both the Regional and Service managers were arrested and later granted administrative bail while investigation continues.

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Naira scarcity: Despite Supreme Court ruling, CBN rolls out tattered N50 notes, see photos

“In a similar vein, the Commission has effected the arrest of the Head of Operations, Keystone Bank, Mararaba in Nasarawa State for frustrating its customers at getting the new Naira notes.
“The ICPC team, while on its routine operation, found out that the Automated Teller Machines (ATMs) at the branch were not dispensing to its customers, while other bank customers were accessing only One Thousand Naira.
“It was only after the arrest was made and clarification received from CBN that the position of the officers of the bank was not correct, that the ATMs started dispensing N5000 to non-customers and N10,000 to its customers."

Old naira notes deadline: 3 things to know about Supreme Court judgement on CBN policy

The legal pronouncements on the naira redesign policy of the federal government have thrown many Nigerians into confusion.

On Monday, February 6, a Federal Capital Territory (FCT) high court compelled the Central Bank of Nigeria (CBN) to go ahead with the full implementation of the controversial naira redesign policy.

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Sterling Bank reacts to allegation of hoarding N258 million by ICPC

The court restrained the CBN from extending the February 10 deadline on the use of old naira notes.

Naira redesign: Governor El-Rufai asks traders to continue using old notes, reveals Tinubu's plan

In another report, Governor Nasir El-Rufai asked traders, especially those in Kaduna state, to continue using the old naira notes for their transactions.

The Kaduna state governor said this at a meeting with the traders on Tuesday, February 7.

Speaking on why he gave the advice, Governor El-Rufai said Asiwaju Bola Ahmed Tinubu, the presidential candidate of the All Progressives Congress (APC) will review the naira redesign policy if he is elected.

Source: Legit.ng

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