ICPC Arrests Bank Managers over ‘Stashed’ N258m New Naira Notes

Independent Corrupt Practices and Other Related Offences Commission (ICPC) said its operatives have arrested Regional and Service managers of Sterling Bank over the sum N258m new naira notes discovered stashed in the vault at the head office of the bank in Abuja.

The anti-graft agency said the two bank managers were arrested last Friday as part of its ongoing efforts at ensuring that commercial banks comply with the Central Bank of Nigeria’s (CBN) directive on the distribution of the redesigned Naira notes.

In a statement by Mrs. Azuka Ogugua, its spokesperson, ICPC said its monitoring team visited the bank and discovered the stashed N258 million new Naira notes in the bank’s vault.

However, it said the operatives were informed that the N258m was the remnant of what the CBN had given the bank for onward distribution to its branches.

But ICPC said contrary to the claim, it was discovered that the bank distributed only N5m each to their various branches for the day.

In a similar vein, the Commission also said its operatives arrested Head of Operations, Keystone Bank, Mararaba in Nasarawa State for frustrating its customers from getting the new Naira notes.

According to the statement, the ICPC team, while on its routine operation, found out that the Automated Teller Machines (ATMs) at the branch were not dispensing to its customers, while other bank customers were accessing only one thousand naira.

It was only after the arrest was made and clarification received from CBN that the position of the officers of the Bank was not correct, that the ATMs started dispensing Five Thousand Naira to non-customers and Ten Thousand Naira to its customers.

ICPC added that its operatives also arrested one Abdulkareem Shaibu, a Security Guard with Zenith Bank, 3rd Avenue Gwarimpa, as well as Ali Adam and Shafiu Umar.

While Shaibu, the Security Guard was arrested for being in possession of five ATM cards which he was using to collect money for different unknown persons who were not within the Bank premises at that time, Adam and Umar were arrested in front of Zenith Bank, 1st Avenue Gwarimpa, for selling the new Naira notes.