Commercial bank’s manager arrested for hoarding new Naira notes in Abuja

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Commercial bank’s manager arrested for hoarding new Naira notes in Abuja

Operatives of the Economic and Financial Commission (EFCC) have arrested an operations manager of a leading commercial bank in Abuja for allegedly refusing to load the bank’s ATMs despite having N29million of the redesigned Naira notes in the branch’s vaults.

The manager was arrested on Monday, February 6, 2023.

According to the EFCC, “Before he was whisked away for further questioning, the operatives ordered the loading of all the ATMs and the payment of the stipulated amount across the counter to the delight of the distraught customers who had spent hours on queues without getting the new notes.

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.“

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