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ICPC Discovers N258million Stashed in Bank

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The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has confirmed the discovery of N258million stashed in the head office of a bank in Abuja.

According to the ICPC, the operation was part of efforts to get the institutions to comply with the Central Bank of Nigeria, CBN’s directive on the distribution of redesigned naira notes.

The cash was the remnant of the amount the CBN earlier released to the headquarters for onward distribution.

It revealed that the Commission arrested the Head of Operations at a bank in Nasarawa State for frustrating customers seeking new notes.

Written by: Helen Obih

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The Independent National Electoral Commission, INEC, has revealed that the naira notes scarcity may disrupt the general elections. INEC Chairman, Mahmood Yakubu, made this known during a meeting with the Central Bank Governor, Godwin Emefiele at the CBN headquarters, Abuja. Yakubu explained that many service providers to INEC had no bank accounts, noting that service providers needed to be paid fully or partly. The Chairman urged the apex bank to […]

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