Friday, November 11, 2022


Almost two weeks after the Central Bank of Nigeria (CBN) announced plans to redesign some naira banknotes, around 52 billion naira have been deposited.

There were indications that total deposits could rise over the next few days, as it is believed that there were around 3 trillion naira in circulation at the time Apex Bank announced the policy.

The CBN claimed that some of the identified depositors were politicians, stockbrokers, businessmen, real estate financiers, traders and others.

It has also been learned that the Economic and Financial Crimes Commission (EFCC) and other security agencies have ordered banks to keep records of depositors, including institutions.

According to a reliable source armed with facts and figures, security and intelligence agencies have confirmed huge cash deposits of N52 billion in banks in less than two weeks. The source said some officials from one of the agencies appeared backstage before a Senate committee in Abuja on Tuesday.

“As the cash was being taken to banks, we were getting the details of all the depositors and in some cases, we could trace the sources.”

“As of Tuesday, over N52billion cash has been deposited in various banks. Some of the deposits have been traced to some politicians, Bureau De Change operators, suspected money launderers, middlemen, drug barons, businessmen and traders.”

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