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Tuesday, March 5, 2024

CBN Investigates Asaba Bank For Diverting Money to Anambra

Central Bank of Nigeria (CBN), Asaba branch, yesterday, warned commercial banks in Delta State against diverting new naira notes to branches outside the state.

The warning followed an excuse from the manager of one of the commercial banks that some of the money received from CBN to pay customers in the state moved to branches in neighboring Anambra State.

Director, Banking Services, CBN, Abuja, Mr. Sam Okejere, leading a team of Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), and State Security Service (SSS), cautioned the bank manager (names withheld) on Wednesday in Asaba during the monitoring of banks and Point of Sales (POS) operators.

The director, who was suspicious because of the large crowd of customers at the entrance to the bank, said if the money released to the bank had been judiciously dispensed in Asaba, there wouldn’t have been that kind of crowd around the bank.

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Apart from directing the bank to load all its ATMs for payment and reduce the crowd within and outside the banking hall, the team ordered that the branch should stop diversion of money.

On why the money was taken to the bank’s branch in Anambra State, the bank manager said that had the practice of the bank, stating that there was no hidden motive but to satisfy yearnings of their customers.

“It is the practice of the bank. We also get from Anambra to Delta at times when we need money here. Also we are partners in progress with CBN. We won’t do anything to jeopardise the policy and at the same time wont do anything to flout the directive of the apex bank,” she assured.


Chinaza Ogbachalu
Chinaza Ogbachaluhttps://www.chinazaogbachalu.com/
My name is Chinaza Ogbachalu, and I am a writer. I have been writing news and opinion articles for five years plus and have always had a passion for storytelling. I grew up in Nigeria and graduated from the University of Port Harcourt, Nigeria, with a degree in linguistics and communication studies. I have written books that have been well-received by critics and readers alike. My work often focuses on culture and lifestyle, and I draw inspiration from my own experiences and observations of the world around me. As a news writer, I am responsible for researching and writing engaging and accurate news stories for our online audience. I have a strong passion for current events and am skilled at conducting interviews and gathering information from sources. I am grateful for the support of my readers and am constantly humbled by their enthusiasm for my work. Thank you for taking the time to learn more about me and my writing.


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