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EFCC Arrests Abuja Bank Manager For Hoarding N29 Million New Naira Notes(PHOTOS)



A commercial bank manager has been arrested in Abuja by the Economic and Financial Commission (EFCC) for allegedly hoarding new naira notes.

The senior bank official reportedly refused to load the newly redesigned N1000, N500 and N200 notes to his bank’s Automated Teller Machines (ATM) for people to withdraw.

Naija News reports that there have been a series of lamentations across Nigerian states over the tussle in getting the new naira notes following the deadline for accepting the old notes which is currently set for February 10.

Confirming the arrest of the bank Operations Manager, EFCC spokesman, Wilson Uwujaren, said the individual hoarded the sum of N29 million of the redesigned naira notes in the branch’s vaults.

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According to Uwujaren, before the bank official was whisked away for further questioning, the operatives ordered the loading of all the ATMs.


The EFCC also ensured payment across the counter to the customers’ delight who had spent hours in queues without getting the new notes.

The anti-corruption agency stated that the latest discovery indicates “a sabotage of the government’s monetary policy by some banks”.

The EFCC spokesman added that operatives covered more than five bank branches today in the Federal Capital Territory (FCT).

CityNews understands that the operation was in continuation of the surveillance and visit to banks across the country to access their vaults and verify whether they are deliberately refusing to dispense cash.

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The EFCC said it would continue the raid until normalcy is restored to the banking system, urging Nigerians finding it difficult to access funds at any bank and suspects foul play to contact the commission.

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