The Economic and Financial Crimes Commission (EFCC) has arrested a bank manager for allegedly hoarding new naira notes.

There has been crisis across the country over the scarcity of the new notes as thousands of Nigerians spend hours across ATMs and banking halls, just to withdraw money.

While announcing a new deadline for the circulation of old naira notes, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), said the apex back was being sabotaged.

He also disclosed that the bank had enlisted the services of anti-graft agencies to checkmate saboteurs.

The Independent Corrupt Practices and other related offences Commission (ICPC) had last announced the arrest of a bank manager frustrating the circulation of the new naira.

On Monday, Wilson Uwujaren, EFCC spokesman, announced that the agency sent its men across banks in Abuja and the manager of bank was arrested for refusing to allow loading of new notes into the bank’s ATN despite having N29million of the new notes in the bank.

According to Uwujaren, when the discovery was made, EFCC officials ensured that the money was circulated among customers who had spent hours in queues without getting the new notes, while the manager was arrested.

He said, “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 operation will continue until normalcy is restored to the banking system.

“Nigerians finding it difficult to access their funds at any bank and suspects foul play should contact the commission, for immediate intervention.” (Daily Trust)

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