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    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

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    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    • Nigeria
    • Africa
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  • Economy
    • All
    • Budgets
    • Economic Data
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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

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    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    • Economic Data
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    • Companies
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    Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

    GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

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NEW NAIRA: ICPC arrests bank manager over sabotage

Saturday, 4 February 2023, 12:16 am
in News, Nigeria
0
NEW NAIRA: ICPC arrests bank manager over sabotage
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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has arrested the manager of a bank in Osogbo, the Osun capital, over ATMs loaded with naira notes but were prevented from dispensing.

The spokesperson of the commission, Azuka Ogugua in a statement on Friday said that wrapped cash bundles were loaded into the ATMs thus the inability to dispense cash.

“The ICPC Compliance Team in Osogbo has busted an FCMB in Osogbo, Osun State, where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed,” the statement reads.

“The Team therefore directed that the wrappers be removed, and the cash loaded properly.

He explained that a follow up visit by the commission to the bank to ascertain the level of compliance, the Team discovered that one of the ATMs was still loaded with wrapped cash. “The Operation Manager of the Bank was arrested and taken in for questioning.”

Also, the branch service head of Stanbic IBTC Bank in Deidei, Abuja, was taken into custody over the “deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATM) even when the cash was available, and people were queuing at the ATMs,” according to the commission.

“When the ICPC monitoring team stormed the bank at about 1:30pm to ensure compliance, and demanded explanation as to why all the ATMs were not dispensing cash, it was informed by the branch’s Head of Operations that the bank just got delivery of the cash,” the commission said.

“However, facts available to the ICPC operatives indicated that the branch took delivery of the cash around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash.

“Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.

“Investigations are still ongoing, and the Commission will take appropriate actions as soon they are concluded.”

ICPC also said it has arrested seven Point of Sale (POS) operators and a security guard in Osun state over alleged extortion of residents.

The ICPC said a probe into the activities of the POS operators revealed that they got the cash from filling stations, “but they then resell the cash to the public at exorbitant rates”.

“The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes,” ICPC added.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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