How EFCC Arrested Bank Manager For ‘Hoarding N29m New Notes’ In Abuja

“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”.

Nigerians have been finding it difficult to access their funds at the bank halls and ATM since the new redesigned naira was unveiled but many suspects that some of the banks are hoarding the cash and selling them to highest bidders underground.

EFCC, says the operation clamp down on the banks hoarding the notes will continue until normalcy is restored to the banking system.