New Naira Notes: ICPC Arrests Abuja Stanbic IBTC Official For Refusal To Upload Cash Into ATM

The Independent Corrupt Practices and Other Related Offences Commission ICPC, has arrested an official of one of the commercial banks for allegedly sabotaging the circulation of new Naira notes.


In a press statement released on Friday, by the ICPC spokesperson, Mrs. Azuka Ogugua, the bank official whose name was not disclosed, is said to be the Branch Service Head of Stanbic IBTC Bank, Deidei, Abuja.

She is said to have been taken into custody for her refusal to upload cash into the branch’s Automated Teller Machines (ATM) even when the cash was available, and people were queuing up at the ATMs.

The statement further revealed that the ICPC monitoring team stormed the bank at about 1:30pm to ensure compliance, and demanded an explanation as to why all the ATMs were not dispensing cash.

“The Commission was informed by the branch’s Head of Operations that the bank just got delivery of the cash.

“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,” the statement partly read.

Meanwhile, according to ICPC, further investigations are still ongoing, and the Commission would take appropriate actions as soon as investigations are concluded.

The Commission also revealed that a similar case took place in Osogbo, when the ICPC Compliance Team in Oshogbo busted an FCMB in Osogbo, Osun State.

At the said bank, some ATMs were loaded with cash but their wrappers were not removed.

This of course was preventing the cash from being dispensed. 


ICPC therefore directed that the wrappers be removed, and the cash loaded properly.

“However, when a follow-up visit was undertaken the following day to ascertain the level of compliance, the team discovered that one of the ATMs was still loaded with the wrappers un-removed.

“The Operation Manager of the Bank was arrested and taken in for questioning,” the Commission said.


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