Bank manager arrested for hoarding new Naira notes in Abuja

A bank manager has been arrested by the EFCC for allegedly refusing to load the bank’s ATMs, despite having the new Naira notes.

According to the EFCC, the bank manager had N29 million of the new Naira notes in the bank’s vault but refused to do the needful. The manager’s arrest was made on Monday, February 6, 2023, in Abuja.

EFCC noted:

“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 on 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.

More than five bank branches were covered today by the operatives in Abuja. Similar exercises were ongoing in Zonal Commands across the country.“