In spite of having the newly designed banknotes in the vaults, the Nigerian agency that looks into financial crimes has detained the branch manager of a commercial bank in the nation’s capital, Abuja.
The nation recently changed the look of its currency, but the transition did not proceed as planned since there aren’t enough of new notes to go around.
This has caused ire and provoked unplanned protests at banks. The last day to utilize old currency is this Friday.
EFCC Arrests Operations Manager of a Commercial Bank for Hoarding New Naira Notes in Abuja
An Operations Manager of a leading Commercial bank in Abuja Central Area was today, February 6, 2023, arrested by operatives of the Economic and Financial Commission, EFCC,… pic.twitter.com/nP2rbgNTOc
— EFCC Nigeria (@officialEFCC) February 7, 2023
The operations manager was taken away for questioning on Monday by members of the Economic and Financial Crimes Commission (EFCC), who raided the bank.
In its statement, the bank claimed to have 29 million Naira ($63,000; £52,000) in the new banknotes in its vaults, which officers had directed be put onto ATMs.
Uncertainty surrounds whether the detained bank manager has addressed the charge, but the commission claimed that some banks were “sabotaging the government’s monetary strategy.”
