2023: EFCC, ICPC begin probe of depositors of old naira notes at CBN

Economic and Financial Crimes Commission, EFCC and Independent Corrupt Practices Commission, ICPC have commenced probe of depositors of old naira notes at Central Bank of Nigeria Branches nationwide.

It was gathered that depositors of millions of old N500 and N1,000 notes are under the scrutiny of anti-corruption agencies at the Ilorin branch of the Central Bank of Nigeria.

Sources said the operatives of the Economic and Financial Crimes Commission, EFCC and Independent Corrupt Practices Commission, ICPC among others are on ground to monitor lodgments and educate depositors on the implications involved in depositing millions of naira with questionable sources.

Congress gathered that the depositors, suspected to be fronting for politicians to lodge money on their behalf were educated on the implications by the anti-graft agencies.

“Depositors of millions of naira will have to approach their various commercial banks after one month when the investigation into their sources of money would have been concluded.

“The action followed suspicion that some politicians are using people as fronts to lodge money in millions on their behalf as a result of the ongoing new naira swap.”

However, CBN officials have been accused of collecting between N10,000 and N20,000 from depositors of millions of naira to ensure easy processing for their lodgments.

“Depositors have to go through three or four stages before counting and final judgment, an official of the bank who requested anonymity confided in DAILY POST correspondent.
“Some depositors stand to forfeit their lodgments if, eventually, they could not give a proper account of their sources of income after investigation by the anti-graft agencies.”, he added.

Our sources revealed that some of the depositors that thronged the CBN arrived with sacks of naira notes to deposit as directed by the apex bank.