ICPC Nabs FCMB Bank Manager For Preventing ATM Machines To Dispense Cash

 ICPC Compliance Officers With The Arrested FCMB Manager And Others

The Compliance Team of Independent Corrupt Practices and Other Related Offences Commission (ICPC), in Oshogbo, Osun State capital, have busted a First City Monument Bank (FCMB) in the state, where some Automated Teller Machines (ATM) were loaded with unwrapped Naira notes, thereby making it impossible for the machines to dispense cash. 

The Bank’s Branch Where the Arrest Was Effected

Upon the arrest of the manager, the Team, therefore, directed that the wrappers be removed, and the cash loaded properly.

However, a follow-up visit to the branch of the bank on the following day to ascertain the level of compliance, the Team discovered that one of the ATMs was still loaded with the unwrapped Naira notes.

The Unwrapped Naira Notes Removed From The Bank’s ATMs

The Operation Manager of the Bank was arrested and taken in for questioning.

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 charges 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.

ICPC said the arrested persons are helping it with useful information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.