NewStats: 3,262,004 , 8,175,854 topics. Date: Saturday, 31 May 2025 at 01:41 PM 591h59

As part of ongoing efforts at ensuring that commercial banks comply with the Central Bank of Nigeria’s (CBN) directive on the distribution of the redesigned Naira note, operatives of the Independent Corrupt Practices and Other Related Offences Commission (IC) last week Friday, discovered the sum of Two Hundred and Fifty-Eight Million Naira (N258m) stashed in the vault at the head office of Sterling Bank in Abuja.

This discovery followed one of the Commission’s operations at ensuring that commercial banks and other interest groups do not flout the apex bank’s directive.

When the IC monitoring team visited the bank and discovered the stashed new Naira notes in the bank’s vault, it was informed that the cash was the remnant of what the CBN had given the bank for onward distribution to its branches.

The team however found out that only the sum of Five Million Naira (N5m) each was distributed to their various branches.

Both the Regional and Service managers were arrested and later granted istrative bail while investigation continues.

https://m.facebook.com/story.php?story_fbid=pfbid0iBdZmekGHCkuC8SNG7JZphzq767uivQoiVAdiRpfqDjFHHc7CWeGeG6HnmqyC4o9l&id=100068873333950&mibextid=Nif5oz

Which bank?

Interesting times...we are living in.

lordm:
Which bank?

read thru d text, e no too long

lordm:
Which bank?

U don't want to read ordinary first paragraph!

CBN is actually the primary problem while the commercial banks are problems we deal with because we interact with them the most.

There have been seamless transition of notes from old to new more than 4 times in this country and even up till the Goodluck Jonathan's major note transition..and there have never been such chaos such as this

Worse of it all is that they did not only fail at cash transition, they decided to invoke panic when it's less than a month to an important election.

The pope has a finger in the pie and we can see Emiefele's full regalia

Mtcheeew

The politicians are not our problem in this situation.. it we the masses that are giving ourselves problems.. if the bankers can not follow a simply directive to give the money through atm to the masses... it shows that we all selfish if we are given the opportunity to be in the position of authority. The last time I check politicians no dey get vault for bank now.

Hmmm and tinubunn is crying like a lil bistttccchhh

lordm:
Which bank?

Power Bank

Make CBN recruit agent and give dem to distribute it to the masses If dey believe bank are sabotaging dere efforts and rest jarey...

Is this the first time we are doing cash Swap or why this one come hard the one we av been doing...

No one fights corruption in 3mths... But let's watch where this will end..
Politicians already have this money... It's too late to assume this anti people policy will stop vote sales... It will be easier now... 1-2k per vote..
Buhari and Emefiele may have devised a sound idea but flawed execution will ensure its sure FAILURE..

Even Small Sterling!!!!
The end shall never wonder

H

Banks are one of the problems we have in nigeria. If the federal government can put this same effort in every sector i believe nigeria will be a better place for u and i. But i must say i still dont trust buhari regardless of his effort. What did buhari, tambawal and bagudu really discuss at that meeting?

lordm:
Which bank?

You dull o..

What did you people said happened to zenith bank again

This is pure lie...sterling bank has already released a statement....

This is far from the truth

Na why I like Asian countries be this... Death penalty straight!

What nonsense!!

Less than 4 days to go. FG should not extend the deadline again.

Funny government, creating unnecessary problem now they're using their agencies to oppress people. If they didn't act stupid such problems wouldn't have come into light

Really sad.

Dis tin wey banks Dey do e good ?

lordm:
Which bank?

How did you even know the post was about a bank? I guess from the topic: "IC Busts Sterling Bank, Discovers N258m, Makes Arrests". Then how did you jump the bolded

Sabotage! The entire process is being sabotaged by the banks

>: (

rexlims:
read thru d text, e no too long

Me looking at any pos attendant whenever i wan withdraw money

Arrest and jail those criminals Most banks have the money but sell to their cronies, the rich, influential and highest bidders. Then the remnant is distributed to the masses.

These bank are engaged in economic sabotage, it should be classified as terrorism.

I won't be surprised if BAt APC faction are also doing all they can to ensure that mobile banking also fails. To put more pressure on Buhari to reverse the policy.

The kind of money these guys have stolen can disrupt and destabilise the economies of the whole of Africa. They can use their stolen wealth to always have their way. This is why Nigeria must go cashless, it would reduce crime to an extent. Buhari must remain steadfast with the policy.

CBN needs to start showing those arrested on national TV and ensure they sit on the ground like criminals while being interviewed.

chisomkachy:


https://m.facebook.com/story.php?story_fbid=pfbid0iBdZmekGHCkuC8SNG7JZphzq767uivQoiVAdiRpfqDjFHHc7CWeGeG6HnmqyC4o9l&id=100068873333950&mibextid=Nif5oz

reserving it for politicians. These people will not go unpunished.

I just hope this is not a propaganda against sterling Bank.
CBN is just trying to make it seems as if it's the banks that don't want to give out the new notes. When in facts it is CBN that is not giving banks enough money that will go round to its customers... Make dem just kill pride say dem no get the redesign notes to go round...

You gave a bank In a particular region(Lagos) like 100m-150m in a week, how will that be enough for its branches and customers.

You stoped old notes and brought in redesign notes when you don't have enough to go round..
CBN just dey use Nigerians catch cruise....

rexlims:
read thru d text, e no too long

Eleribu bank..
Bank wey suppose attract masses by alleviating their suffering

Imagine just 250 million naira at the head office in Abuja ?
250 million is not even enough for 1 branch of sterling in Lagos island for 1 week.
Thought it was billions