EFCC says the department of the financial institution in Abuja refused to load its Automated Teller Machines (ATMs) regardless of having N29 million of the redesigned Naira notes in its vaults.

The Economic and Financial Crimes Commission (EFCC) on Monday arrested the operations supervisor of a department of an unnamed business financial institution in Abuja for allegedly hoarding N29 million of the brand new naira notes.

EFCC’s spokesperson, Wilson Uwujaren, mentioned in a observation that the financial institution refused to load its Automated Teller Machines (ATMs) regardless of having N29 million of the redesigned Naira notes within the department’s vaults.

The fee mentioned it took the financial institution reputable, whose identify used to be additionally now not given, into custody for additional wondering. It mentioned its operatives additionally ordered the financial institution to load the cash within the ATMs and make fee to consumers over-the-counter.

The EFCC described the incident as a sabotage of the federal government’s financial coverage by means of some banks.

“Before he used to be whisked away for additional wondering, the operatives ordered the loading of the entire ATMs and the fee of the stipulated quantity around the counter to the pride of the distraught consumers who had spent hours on queues with out getting the brand new notes.

“This discovery, which indicates a sabotage of the government’s monetary policy by some banks, was made by the EFCC in continuation of the ongoing surveillance and visit to banks across the country to access their vaults and verify whether they were deliberately refusing to dispense the redesigned Naira notes. More than five bank branches were covered today by the operatives in Abuja. Similar exercises were ongoing in Zonal Commands across the country,” the fee’s observation learn partially.