Some operatives of Nigeria’s Independent Corrupt Practices and Other Related Offences Commission (ICPC) have discovered N258 Million stashed in the vaults of a bank amid the ongoing cash scarcity in the country.
ICPC spokesperson, Azuka Ogugua disclosed this at a briefing, adding that the money, all new naira notes, was found in the vault of the Abuja head office of Sterling Bank.
“Operatives of ICPC 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,” she said.
Investigation showed that less than 2% of the money released by the Central Bank of Nigeria (CBN) for distribution were released to the public.
“The team however found out that only the sum of N5 million each was distributed to their various branches.
“Both the Regional and Service managers were arrested and later granted administrative bail while investigation continues,” Ogugua said.
The spokesperson added that the Commission has also effected the arrest of the Head of Operations, Keystone Bank, Mararaba in Nasarawa State for frustrating its customers at getting the new Naira notes.