BREAKING: ICPC Bursts Popular Commercial Bank, Discovers N258m New Notes Hidden in Vault, Makes Arrests

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has made a new arrest, as the scarcity of the new naira notes persists. The ICPC in a statement disclosed that its operatives found the sum of N258 million stashed in the vault at the head office of Sterling Bank in Abuja, The SUN newspaper report confirmed.

This finding came as a result of one of the operations the Commission carried out to ensure that commercial banks and other interest groups did not disregard the apex bank’s direction says a statement by ICPC spokesperson, Mrs. Azuka Ogugua. According to her, the ICPC monitoring team visited the bank on Friday and found the hidden new Naira notes in the bank’s vault. “It was informed that the cash was the remnant of what the CBN had given the bank for onward distribution to its branches.

“The team however found out that only the sum of Five N5million each was distributed to their various branches.

“Both the Regional and Service managers were arrested and later granted administrative bail while investigation continues.

“In a similar vein, the Commission has effected the arrest of the Head of Operations, Keystone Bank, Mararaba in Nasarawa State for frustrating its customers at getting the new Naira notes.

“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 N5000 to non-customers and N10,000 to its customers.”

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