BUSINESS

FCMB Bank Manager Nabbed For Preventing ATM From Dispensing Cash

ICPC Compliance Team in Oshogbo busted an FCMB in Osogbo, Osun State where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed.

The Team, therefore, directed that the wrappers be removed, and the cash loaded properly.

However, when a follow-up visit was undertaken the following day to ascertain the level of compliance, the Team discovered that one of the ATMs was still loaded with the wrappers un-removed.

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 commissions 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.

The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.

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