Union Bank Slams EFCC, Claims Ownership Of N1 Billion Recovered At Enugu Airport

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Union Bank Slams EFCC, Claims Ownership Of N1 Billion Recovered At Enugu Airport

One of Nigeria’s apex financial institutions, Union Bank, has claimed ownership of the $2.8 million (over N1 billion at N360 a dollar) which the Economic and Financial Crimes Commission (EFCC) said it confiscated at the Enugu International Airport on Friday.

It also slammed the Commission for being too hasty to release news bulletin prior to the completion of its investigation.

The country’s anti-graft agency had yesterday announced in a statement that two men were arrested at Akanu Ibiam International Airport with a combined cash of $2.8 million.

The commission said the suspects mentioned their affiliation to Union Bank and Bankers Warehouse, a cash-in-transit contractor as it was investigating the recovery as money laundering.

2 Persons Arrested As EFCC ‘Intercepts Over N1bn’ At Enugu Airport

However, Union Bank strongly denied wrongdoing, saying the practice was standard in the banking industry and its contractors were licenced by the Central Bank of Nigeria (CBN).

In a series of tweets directed at the EFCC on Friday night, Union Bank criticised the anti-graft office for being too hasty at disclosing the development to the public, “prior to the completion” of investigation.

“Movement of cash across states is routine for all banks. Bankers Warehouse is licensed by CBN to provide Cash-in-Transit services. We are surprised by the release of a news bulletin prior to the completion of @officialefcc investigation,” the bank tweeted.

“This is a legitimate and routine operation consistent with banking,” It added.



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