CBN Sack Officials Involved In N8b Fraud

by on June 2, 2015

The Central Bank of Nigeria (CBN) on Monday, disclosed that it has dismissed some of its six officials that were involved in the N8bn currency fraud in some of its branches.

The Apex Bank in a statement in Abuja by the Director, Corporate Communications Department, Ibrahim Mu’azu, stated that some of the middle-level officers among the accused had been summarily dismissed or placed on indefinite suspension, depending on gravity of their offence.

The statement read: “The Central Bank of Nigeria will like to inform the general public of the chronology of events that led the Management of the CBN to hand over some unscrupulous staff to the Economic and Financial Crimes Commission for prosecution.

“During a routine internal audit of the Bank’s Cash Destruction activities in September 2014, the CBN Briquetting Panel, comprising senior bank staff from different branches, noticed some anomalies at the Ibadan Branch, and immediately reported this to the bank’s management.

“On further investigation ordered by the Governor, it was discovered that a systematic scheme, which has been on for several years, was being run in which mutilated higher denomination notes, originally meant for destruction, were swapped with lower denomination currencies.


Source: Daily Independent


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