Naira Scarcity: ICPC Discovers Over N250M Stashed In Abuja Bank

Reading Time: < 1 minutes

Amid the scarcity of the new naira notes, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has found the sum of N258 million stashed in the vaults of a new generation bank.

This was disclosed by Azuka Ogugua, spokesperson of the anti-graft agency.

She explained that new naira notes were found stashed in the vault of the Abuja head office of Sterling Bank.

“Operatives of ICPC discovered the sum of Two Hundred and Fifty-Eight Million Naira (N258m) stashed in the vault at the head office of Sterling Bank in Abuja,” she said.

According to Oguagua, investigation showed that the money was released by the Central Bank of Nigeria (CBN) for distribution.

“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 investigation continues,” she said.

The spokesperson added that the Commission has also effected the arrest of the Head of Operations, Keystone Bank, Mararaba in Nasarawa State for frustrating its customers at getting the new Naira notes.