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Sterling Bank Enmeshed In Naira Hoarding Saga (Update)

Officials of the Central Bank of Nigeria, CBN on Sunday faulted the Ado-Ekiti branch of Sterling Bank for hoarding N6 million of the redesigned naira notes in its branch for two weeks.

The CBN deputy director, Oluwole Owoeye led the officials who uncovered the hoarded newly redesigned naira notes being kept without dispensing despite collecting same from the CBN for about two weeks.

Fuming about the alleged sabotage of the CBN’s policy on the naira redesign, the official said:

Ebonyi state governement lodge Abuja

He said, “I’m currently at Sterling Bank as part of this monitoring compliance with the guidelines by the CBN. They have six million which they have collected from the bank for almost two weeks. They have not dispensed any. They said they are yet to configure their ATM. I don’t know why. I have brought their attention to the penalty clause of one million per day. They have five ATMs. They don’t have any reason for keeping this money.”

“The zonal service manager, Mr Tunde Onipede promised that by 10am 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.”

. cannot confirm when the Update took place and in the Update that came online the Sterling Bank officials did not give any reason why their ATMs had not been configured for the dispense of the new naira notes.

Meanwhile, different reactions are shadowing the discovery of the incident on social media.

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