Breaking: [Photos] EFCC Arrest Operations Manager of Commercial Bank For Hoarding Over N100m New Notes

The Economic and Financial Crimes Commission, EFCC, has reportedly arrested the Operations Manager of a Commercial Bank in Abuja, for allegedly hoarding over N100 million worth of the newly redesigned notes.

The arrest is consequent to the earlier warning issued by the Central Bank of Nigeria against any form of breach of procedures for the swap of the old and redesigned naira notes.

It’s in line with the statement of the CBN, which reads in part;
“Section 21(4) states that “It shall also be an offense punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.”

“Accordingly, the Central Bank of Nigeria (CBN) is collaborating with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC), and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic practice.

Details later.


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