Lest We Forget
Daily Times
NIGERIA'S LARGEST DAILY SALE 294
Saturday September 29, 1979 15k
10 central bank chiefs held
…. alleged loss of N30 million
The Police have arrested 10 top executives of the Central Bank in Lagos over an alleged disappearance of over N30 million.Also arrested were some junior workers employed in sensitive security areas of the bank.
The officials are in the treasury, control rooms, auditing, cash incineration and security sections. A competent source said yesterday that the money was part of condemned notes ordered to be burnt.
The notes are considered to have undergone circulation and, therefore, not fit to be re-injected into the market.
Such notes burnt every day at the bank, it was gathered, always run to the tune of millions of naira.
But unknown to the authorities, some officials have been diverting huge sums into their pockets.
Investigations into the alleged missing money has been going on since the past six months.
The source, however, claimed that it would be an underestimation to put the amount involved at N30 million.
The deal burst into the open when a worker at the bank's incinerator (on grade level 04) was found to have saved N100,000 in a week.
He had opened a current account with a bank at Yaba and within intervals of three lodgements (all within the same week) the account went up to N80,000.
The bank's management, amazed at the affluence of the "good customer" decided to keep an eye on the account.
Reason
As the man went in to make another heavy lodgement, the authorities contacted the Police.At first, the suspect told the Police that he was a businessman but he was later found to be an employee of the Central Bank.
He was detained when he could not give satisfactory reason as to how he came by the money.
A few weeks later, another Central Bank worker went to another bank to withdraw N18,000 from his account.
The bank manager wanted to know what he wanted to do with such a staggering amount and inquiries led to the revelation that he was a clerk at the Central Bank.
He was arrested when he could not explain how he came by the N20,000 in his account.
JOIN US TO FIGHT FOR DEMOCRACY IN GHANA
The GDM invites you to an International Delegates Conference
comprising democratic forces in Europe, America, Canada, East and West Africa, The Middle East and The Pacific.
THEME: RESTORING DEMOCRACY IN GHANA: STRATEGY AND PROGRAMME OF ACTION
on SATURDAY AUGUST 24, 1985
Time: Registration starts at 9.30 am (please be punctual) Venue: At the Tufnell Park Hostel, Huddeston Road, off Tufnel Park Road. To Round Off: GDM DISCO, 8 to 11 at the same venue.
