EFCC arrests man with N30m new naira notes

The Economic and Financial Crimes Commission, (EFCC) has arrested a man with N30m new naira notes, which is contrary to the new cashless policy that allow only N100,000 for each and every person.

The Commission Chairman, AbdulRasheed Bawa announced this on Friday on a TVC program, Your Veiws which was monitored by SOLACEBASE.

Bawa said the cashless policy has made it easy for the anti-graft body to trace the currency as the Central Bank of Nigeria has the serial numbers of all the new naira notes and how it was disbursed and who has access to it.

‘’We arrested a man on Thursday with N30m new naira notes which we are investigating how the person got access to such fund, as the cashless policy only allows for N100,000,’’ Bawa said.

Read Also: ICPC arrests accountant, POS operator over new naira notes racketeering

The EFCC Chairman said though many are complaining of the immediate hardship of access to cash, the commission is collaborating with the Central Bank of Nigeria (CBN) to monitor the distribution of the new naira notes to banks and ensure that Nigerians have access to the cash as provided by law and restrict its hoarding.

He noted that the policy is reducing vote buying already and this would ensure that the 2023 general elections stands out as the poll that less money was expended.

”The cashless policy is not aimed at eradicating vote buying alone as it is expected to create sanity in our economy.”