Naira notes scarcity: EFCC arrests banker for stockpiling new notes worth N29m
The Economic and Financial Crimes Commission (EFCC) on Monday arrested a bank’s operation manager in Abuja for stockpiling new naira notes worth over N29 million.
The EFCC said that it arrested the bank staff in one of its operations aimed at helping the Central Bank of Nigeria (CBN) and the Federal Government ensure the new naira notes are not hoarded by Nigerians.
“An Operations Manager of a leading Commercial bank in Abuja Central Area was on Monday, February 6, 2023, arrested by operatives of the Economic and Financial Commission, EFCC for refusing to load the Automated Teller Machines, ATMs, of the bank despite having N29 million of the redesigned Naira notes in the branch’s vaults,” the agency said in a Monday statement.
“Before he was whisked away for further questioning, the operatives ordered the loading of all the ATMs and the payment of the stipulated amount across the counter to the delight of the distraught customers who had spent hours in queues without getting the new notes.
“This discovery, which indicates sabotage of the government’s monetary policy by some banks, was made by the EFCC in continuation of the ongoing surveillance and visit to banks across the country to access their vaults and verify whether they were deliberately refusing to dispense the redesigned Naira notes. More than five bank branches were covered today by the operatives in Abuja. Similar exercises are ongoing in Zonal Commands across the country.”
The EFCC assured that it will continue the operation across the nation “until normalcy is restored to the banking system.
“Nigerians finding it difficult to access their funds at any bank and suspect foul play should contact the Commission for immediate intervention.”
Read also: Naira Redesign: Court stops CBN from extending deadline
Tax audit: LIRS, FIRS sign pact
The Lagos State Internal Revenue Service (LIRS) has signed a Memorandum of Understanding (MoU) with the Federal Inland Revenue Service (FIRS) to ease the implementation of a joint tax audit and investigation exercise.
The signing ceremony took place in Lagos on Monday in the presence of Governor Babajide Sanwo-Olu, FIRS, and LIRS coordinating directors among others.
While the Executive Chairman, LIRS, Ayodele Subair signed on behalf of Lagos State; his counterpart, Muhammad Nami, Executive Chairman, FIRS, signed on behalf of the Federal Government.
Sanwo-Olu in his remarks said that the conversation for the harmonisation of both agencies’ mandates started about a year ago.
He explained that it was based on the need to forge a common front to widen the tax net to raise the country’s tax to Gross Domestic Product (GDP) ratio. This is according to the News Agency of Nigeria (NAN).
DMO presents N130bn sukuk cheque to FMWH, FCTA
The Debt Management Office through Zainab Ahmed, the Minister of Finance, Budget and National Planning on Monday presented cheques of N130 billion being proceeds of the 2022 Sovereign Sukuk offer to the Federal Ministry of Works and Housing (FMWH), and the Federal Capital Territory Administration (FCTA).
According to Ahmed, the issuance of sovereign sukuk, a project-tied debt instrument, is one of the many innovative and very successful initiatives of the present administration.
Ahmed said it was aimed at financing the development of critical infrastructure.
Barclays replaces co-heads of equities as reshuffle continues
Barclays’ said on Monday that its co-heads of equities, Todd Sandoz and Paul Leech, have left the bank. The company’s spokesperson said that the British company will continue its reshuffling of its investment bank’s management.
Stephen Dainton, the co-head of the global markets will take over as interim global head of equities, the spokesperson said.
“The current strategy and client proposition for equities were set by Stephen when he previously ran the business and will not change,” the bank said.
Boeing to slash about 2,000 white-collar jobs in finance and HR – Seattle Times
Boeing is the latest blue chip company to lay off staff as it announced on Monday that it will lay off about 2,000 white-collar jobs in finance and human resources, this is according to the Seattle Times newspaper.
The newspaper reported that this development will come through a combination of attrition and layoff.
