FCMB, Stanbic IBTC bank managers arrested for allegedly sabotaging distribution of new naira notes


The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested managers of First City Monument Bank (FCMB) and Stanbic IBTC Bank for allegedly sabotaging distribution of new naira notes.

The anti-corruption agency disclosed this in statements released on Friday.

According to the agency, the branch service head of Stanbic IBTC Bank, Deidei Branch, Abuja, was arrested “for her deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATM) even when the cash was available, and people were queuing at the ATMs.”

ICPC also revealed that its compliance team in Osogbo, Osun State busted an FCMB branch where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed.

“The Team therefore directed that the wrappers be removed, and the cash loaded properly.

“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 un-removed.

“The Operation Manager of the Bank was arrested and taken in for questioning,” an ICPC statement read.