New Naira notes: ICPC arrests Bank Manager for loading ATM with wrapped cash in Osogbo

The Independent Corrupt Practices and other related offences Commission has arrested a Bank Manager with the First City Monument Bank in Osogbo, the Osun State capital.

The spokesperson of the ICPC, Azuka Ogugua, confirmed the development in a statement she issued on Friday.

Ogugua said the ICPC compliance team in Osogbo discovered a FCMB branch where some ATMs were loaded with cash with their wrappers not removed, thus preventing it from being dispensed.

She said: “The team therefore directed that the wrappers be removed and the cash loaded properly.

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“However, when a follow-up visit was undertaken the following day to ascertain the level of compliance, the team discovered that one of the ATMs was still loaded with the wrappers not removed.

“The operation manager of the bank was arrested and taken in for questioning.

“Similarly, seven Point of Sale operators as well as a security guard were arrested during the ongoing exercise in Osun State for charging exorbitant commissions for cash. Investigations, however, revealed that they got the money from filling stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

“The arrested persons are helping the commission with information to assist investigations and bust any syndicates involved in the hoarding or sale of the redesigned notes.”