NewsBank Manager Arrested For Hoarding N29m New Notes In Abuja

Bank Manager Arrested For Hoarding N29m New Notes In Abuja


February 06, (THEWILL) –
The Economic and Financial Crimes Commission (EFCC) has arrested a yet-to-be-identified operations manager of a commercial bank, for hoarding new naira notes in Abuja.

A statement by the anti-graft agency said the bank manager was arrested after he was found withholding N29 million in new naira notes on Monday.

“An operations manager of a leading commercial bank in Abuja Central Area was today, February 6, 2023, arrested by operatives of the Economic and Financial Commission for refusing to load the Automated Teller Machines of the bank despite having N29 million of the redesigned naira notes in the branch’s vaults.


“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 in 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”, an EFCC statement read in part.

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