New Naira: ICPC arrests Stanbic Bank manager for sabotage

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Operatives of the Independent Corrupt Practices and other related offences Commission (ICPC) have arrested the Stanbic Bank manager of their Deidei branch in Abuja for hoarding new naira notes, a move deemed a deliberate attempt to sabotage the nation’s economy.


The arrest was communicated in a statement by the ICPC spokesperson, Azuka Ogugua, who said the manager did not stock the bank’s Automated Teller Machines (ATMs) with the new naira notes despite receiving a fresh batch of notes from the CBN hours earlier.

Ms Ogugua claimed that despite long lines of disgruntled customers waiting outside Stanbic bank on Friday at 1:30 p.m. when the ICPC monitoring unit stormed Stanbic Bank, the ATMs were not dispensing cash.

Upon enquiry, the manager argued the bank had just taken delivery of the redesigned notes.

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“However, facts available to the ICPC operatives indicated that the branch took delivery of the cash earlier around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash,” the statement explained.

The ICPC then forced the bank officials to load the ATMs with the new notes “and ensured that they were all dispensing before arresting the culprit.”

The commission assured that investigations were ongoing and “appropriate actions” would be taken.

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