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ICPC arrests bank managers over hidden N285m in Abuja



The operatives of the Independent Corrupt Practices and Other Related Offences Commission (EFCC) have arrested two bank managers in connection with N258 million hidden in a vault at Sterling Bank’s head office in Abuja.

The ICPC spokesperson, Azuka Ogugua, who confirmed the development in a statement on Tuesday in Abuja, said the money was discovered by the ICPC operatives last Friday.

She added that the operation was one of the commission’s moves to enforce the Central Bank of Nigeria (CBN)’s directive on the distribution of the new naira notes in the country.

The fund, according to the ICPC spokesperson, was the remnant of the money the CBN had released to the bank for onward distribution to its branches nationwide.

READ ALSO: Banks deny hoarding new naira notes as ICPC, EFCC others visit strong rooms

Ogugua also revealed that the Head of Operations, Keystone Bank Plc in Mararaba, Nasarawa State, was arrested by the commission’s operatives for frustrating the customers’ efforts at getting the new naira notes.

The statement read: “At Sterling Bank, the team however found out that only the sum of N5 million each was distributed to their various branches.

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

“Similarly, two officials of the FCMB in Ogo-Oluwa, Osogbo, Osun State, have been taken into custody for assaulting officers of the ICPC and CBN Cash Swap Monitoring Team.”

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