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EFCC Discovers $38m, £27k, N23m in a house in Gerard Road, Ikoyi

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Operatives of the Economic and Financial Crimes Commission, EFCC, yesterday, found $38 million, £27,000 and N23 million in a private residence on Gerrard Road, Ikoyi, Lagos.

 

The commision acted on a tip-off by yet another whistleblower. It was learned that the house, which belongs to an unnamed Abuja politician, is on Gerrard Road, Ikoyi, Lagos.

 

 

EFCC agents, who stormed the house, early yesterday, were still counting the money at press time.

 

EFCC spokesman in Lagos, Mr Samin Amaddin, who confirmed the discovery, said the agents, who went on the mission, were yet to return to base last night.

 

The Federal Government recently spelt out the benefits awaiting whistleblowers as it also pledged to protect them. Minister of Information and Culture, Alhaji Lai Mohammed, said any whistleblower whose information led to the recovery of up to N1 billion would receive five per cent of the amount.

 

According to him, the reward for any amount between one and five billion naira would be five per cent for the first N1 billion and four per cent of the remaining N4 billion, and that any amount over N5 billion will attract 2.5 per cent reward.

The Federal Government had said that any whistleblower, whose information led to the recovery of cash or assets worth N5 billion, would earn N210 million.

 

Mohammed said: “For example, if a whistleblower provides information leading to the recovery of N10 billion, he or she will receive five per cent of the first N1 billion, four per cent of the next N4 billion and 2.5 per cent of the remaining N5 billion.

 

“What we have done by making this information public is to reassure potential whistleblowers that the plan to reward is real. We are not just saying we will pay all whistleblowers, but we are letting them know in advance what they are entitled to, once the information they provide leads to the recovery of looted funds.”

 

The latest recovery came two days after EFCC agents recovered €547,730 and £21,090 as well as N5,648,500 from a Bureau de Change operator in Balogun market, in Lagos. Last Thursday, the EFCC recovered N449, 000, 860 hidden in an abandoned shop in Lagos.

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Controversial Sterling Bank caught in the act! CBN sanctions, parades officials for hoarding new naira notes [VIDEO]

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Officials of the Central Bank of Nigeria (CBN) have discovered N6 million of the new naira notes hoarded in Sterling Bank Plc, Ado Ekiti branch on Bank Road, Ado Ekiti in Ekiti State, having received the funds for over two weeks, THE WITNESS reports.

 

In a trending video on social media, seen by THE WITNESS, a man who identified himself as Oluwole Owoeye, a deputy director of CBN, while monitoring the distribution of the new naira notes in the state, was seen questioning the bank officials as to why they have not uploaded the funds into their Automated Teller Machines, (ATMs), despite having six of the machines in place.

 

The CBN director also announced a fine of N1 million for each day the fund was in the bank’s custody.

 

The CBN official said, “I am currently at Sterling Bank, on Bank Road as part of the new naira notes monitoring compliance with the guidelines by CBN. They have N6 million, which they collected from the bank for almost two weeks, they have not disbursed any. They said they are yet to configure their ATMs, I do not know why that and I have brought attention to the penalty clause of N1 million per day, because they have five ATMs here, they have no reason for keeping this money.

 

“The zonal service manager, Tunde Onipede promised that by 10:00am latest tomorrow (Monday), because I told him by latest 10:00 am I’ll be here and I want to see the machine dispensing this money.

 

“What is the name again? Olumide Owolabi (Service Manager, Ado) & Motunrayo Babayele. My name is Oluwole Owoeye and I am a deputy director of CBN.”

 

WATCH VIDEO HERE:

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FCMB Manager Arrested For Hoarding New Naira Notes

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A manager of the First City Monument Bank (FCMB) branch in Osogbo, Osun State capital, has been arrested for allegedly preventing Automated Teller Machines (ATMs) loaded with cash from dispensing money to customers.

The spokesperson of the Independent Corrupt Practices and other related offenses Commission (ICPC), Azuka Ogugua, in a statement on Friday said the cash bundles were loaded into the ATMs while still wrapped, and as such, could not be dispensed through the machines

“The ICPC Compliance Team in Osogbo has busted an FCMB in Osogbo, Osun State, 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’.

Similarly, seven Point of Sale (POS) 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 sales of the redesigned notes.

 

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New naira: ICPC arrests Stanbic IBTC Bank manager over sabotage

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The Independent Corrupt Practices and other related offences Commission (ICPC), has arrested an official of Stanbic IBTC Bank in Abuja for alleged sabotage.

The ICPC spokesperson, Azuka Ogugua, said the development was in continuation of ICPC’s clampdown on elements frustrating efforts in making the redesigned Naira notes available to members of the public.

The bank official, who is the branch service head of Stanbic IBTC Bank, Deidei Branch in Abuja, was taken into custody for her deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATMs) even when the cash was available and people were queuing at the ATM points.

The statement reads: “When the ICPC monitoring team stormed the bank at about 1:30pm on Friday to ensure compliance, and demanded explanation as to why all the ATMs were not dispensing cash, the team was informed by the branch’s head of operations that the bank just got delivery of the cash.

“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.

“Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.

“The ICPC said investigations were still ongoing and the Commission will take appropriate actions as soon they are concluded.

“Similarly, seven Point of Sale (PoS) operators as well as a security guard were arrested during an 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 were helping the anti-graft commission with information to assist investigations and bust other syndicates involved in the hoarding and sales of the redesigned Naira notes,” the anti-graft agency said.

 

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