Breaking: EFCC Arrests Bank Manager For Hoarding New Naira Notes

The operations manager of a branch of an undisclosed commercial bank in Abuja was detained by the Economic and Financial Crimes Commission (EFCC) on Monday for allegedly hoarding N29 million in the new naira notes.

The bank declined to load its Automated Teller Machines (ATMs), despite having N29 million of the newly designed Naira notes in the branch’s vaults, according to EFCC spokesperson Wilson Uwujaren.

The bank representative, whose name was also withheld, was allegedly taken into custody by the commission for additional interrogation. It said that its agents also gave the bank instructions to put money in the ATMs and pay consumers in cash over the counter.

According to the EFCC, several banks sabotaged the government’s monetary policy during the incident.

The arrest came two days after the Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it arrested two bank officials Osun State, for refusing to load its ATMs with cash.

The EFCC also in its statement, vowed to continue its operation “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.”