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Naira Scarcity;EFCC Arrest Bank Manager For Hoarding Money

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The operatives of the Economic And Financial Crime Commission EFCC has arrested an operations manager of a commercial bank for hoarding new naira notes in Abuja.

This is according to a post on the official handle of the commission on Monday 6th February 2023.

Read More;Naira Redesign; Dollar May Crash To N200 -EFCC Boss

According to the post, EFCC, arrested the manager for refusing to load the Automated Teller Machines, ATMs, of the bank despite having N29million of the redesigned Naira notes in the branch’s vaults.

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.

The 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.

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