By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Dismisses 6 Staffs Indicted For N8billion Fraud.
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

CBN Dismisses 6 Staffs Indicted For N8billion Fraud.

Damilola A.
By Damilola A.
Published: June 1, 2015
Share
2 Min Read
SHARE

CBN-OFFICIALS-300x159

 

The Central Bank of Nigeria (CBN) has dismissed six of its staff that were involved in the N8 billion currency fraud in some of its branches, the apex bank said today.
“The Central Bank of Nigeria will like to inform the general public of the chronology of events that led the Management of the CBN to hand over some unscrupulous staff to the Economic and Financial Crimes Commission for prosecution,” a statement by the CBN Director, Corporate Communications Department, Ibrahim Mu’azu said.
“During a routine internal audit of the Bank’s Cash Destruction activities in September 2014, the CBN Briquetting Panel, comprising senior bank staff from different branches, noticed some anomalies at the Ibadan Branch, and immediately reported this to the bank’s management.
“On further investigation ordered by the Governor, it was discovered that a systematic scheme, which has been on for several years, was being run in which mutilated higher denomination notes, originally meant for destruction, were swapped with lower denomination currencies.
“This practice, known as interleafing, basically labels a box with a higher value than its true content.
“As soon as the Bank’s internal investigations concluded beyond reasonable doubt that some wrongdoing had occurred, the affected members of staff, who are middle-level officers were, depending on gravity of offence, either summarily dismissed or immediately placed on indefinite suspension on October 21, 2014, and all handed over to the EFCC for further investigation and prosecution,” the statement read.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByDamilola A.
Entertainment News Reporter
Follow:
Damilola is a dedicated entertainment writer for Okay Nigeria (Okay.ng). He joined the platform with the aim of using his experience in the Entertainment industry to share wonderful articles in this field. Dammy is a die-hard fan of Wizkid.
Previous Article Fathia Balogun says She is Still Married To Saidi
Next Article Buhari To Visit Chad & Niger Over Boko Haram Insurgency.

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 5 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Trump-Musk Rift Deepens as President Threatens Serious Consequences Over Political Funding
International
NIN Registration for Inmates Yet to Begin in 256 Correctional Centres, Report Reveals
News
Anambra, Osun Polls: APC Faces Internal Strife as Soludo and Adeleke Engage President Tinubu Amid Election Tensions
Politics Top stories
Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?