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Bank Manager arrested for Hoarding N29m new notes in Abuja

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An operations manager of a leading commercial bank in Abuja has been arrested by operatives of the Economic and Financial Commission (EFCC) for refusing to load the Automated Teller Machines of the bank despite having N29Million of new naira notes in the branch’s vaults.

The Head, Media and Publicity, EFCC, Wilson Uwujaren revealed this in a statement released on Monday, February 6, 2023.

“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,” the statement reads.

Uwujaren noted that this discovery, which indicated 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.

He said, “More than five bank branches were covered on Monday by the EFCC operatives in Abuja, similar exercises are 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.”

The arrest is coming two days after the Independent Corrupt Practices and Other Related Offences Commission (ICPC) apprehended the manager of a bank in Osogbo, the Osun state capital, for loading ATMs with cash bundles wrapped with nylon, and as such, could not be dispensed through the machines.

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