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Home » Banking » Bank manager arrested in Abuja for hoarding new Naira notes

Bank manager arrested in Abuja for hoarding new Naira notes

Ediri Oyibo by Ediri Oyibo
2 months ago
in Banking, News
Reading Time: 1 min read
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Bundles of the newly redesigned 200, 500 and 1,000 Naira notes, unveiled today by President Muhammadu Buhari

Bundles of the newly redesigned 200, 500 and 1,000 Naira notes, unveiled today by President Muhammadu Buhari

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An Operations Manager of an undisclosed commercial bank in Abuja, the federal capital territory (FCT) has been arrested for hoarding the Naira notes redesigned by the Central Bank of Nigeria (CBN).

TheNewsGuru.com (TNG) reports the Operations Manager was arrested on Monday by operatives of the Economic and Financial Commission (EFCC).

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The Operations Manager, whose identity is yet to be ascertained, was arrested for refusing to load the Automated Teller Machines (ATMs) 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, operatives of the EFCC 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.

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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 EFCC disclosed.

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“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 antigraft agency stated.

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