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| Sterling Bank Building. |
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has arrested the Regional and Service managers of Sterling Bank Plc in the Federal Capital Territory for hoarding N258 million of the new naira notes.
The
commission, in a statement made available to newsmen on Tuesday night said the
fund was stashed in the vault of the bank at its head office in Abuja.
According
to commission, “Operatives of the Independent Corrupt Practices and Other
Related Offences Commission (ICPC) last week Friday, discovered the sum of Two
Hundred and Fifty-Eight Million Naira (N258m) stashed in the vault at the head
office of Sterling Bank in Abuja.
“This
discovery followed one of the Commission’s operations at ensuring that
commercial banks and other interest groups do not flout the apex bank’s
directive.
“When
the ICPC monitoring team visited the bank and discovered the stashed 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 Million Naira (N5m) each was
distributed to their various branches.
“Both
the Regional and Service managers were arrested and later granted
administrative bail while investigation continues,”
Recall,
we had reported how officials of the Central Bank of Nigeria (CBN) discovered
N6 million of the new naira notes hoarded in bank, Ado Ekiti branch on Bank
Road, Ado Ekiti in Ekiti State, having received the funds for over two weeks.
In a trending video on social media, a man who identified himself as Oluwole
Owoeye, a deputy director of CBN, while monitoring the distribution of the new
naira notes in the state, was seen questioning the bank officials as to why
they have not uploaded the funds into their Automated Teller Machines, (ATMs),
despite having six of the machines in place. The CBN director also announced a
fine of N1 million for each day the fund was in the bank’s custody.
Over
the past few days, Nigerians have been battling with the scarcity of new naira
notes, a development that has led to queues at banking halls and ATMs.
The
naira notes paucity, coupled with the scarcity of petrol, has also led to
protests in some parts of the country.
The
CBN had given a deadline of January 31 for the use of old naira notes but it
was recently extended to February 10.
On
Friday, President Muhammadu Buhari expressed doubts about the commitment of
banks to the success of the naira redesign policy, describing them as
“inefficient, greedy and selfish”.
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