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Union Bank Faults EFCC $2.8m Burst, Calls Agency Out On Twitter

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EFCC, on Friday, December 21, 2018, announced on Twitter that it had intercepted $2.8 million at Akanu Ibiam International Airport, Enugu.

Union Bank Faults EFCC $2.8m Burst, Calls Agency Out On Twitter

Union Bank has issued a statement calling out the Economic and Financial Crimes Commission (EFCC) for issuing a media release without completing investigations.

 The anti-graft agency on Friday, December 21, 2018, announced on Twitter that it had intercepted $2.8 million at Akanu Ibiam International Airport, Enugu.

EFCC, in the Twitter statement, tagged: #MoneyLaundering, said the alleged couriers of the cash were giving useful information.

The media and publicity team of the anti-graft agency also went ahead to issue a statement on its website.

The statement reads: "The Economic and Financial Crimes Commission, EFCC, Enugu Zonal Office, on Thursday, December 20, 2018, intercepted $2.8million (Two Million, Eight Hundred Thousand United State Dollars), from two people, suspected to be money launderers, at Akanu Ibiam International Airport, Enugu.

"The suspects, namely Ighoh Augustine and Ezekwe Emmanuel, allegedly working for a company: Bankers Warehouse, were nabbed based on intelligence report.

Union Bank Faults EFCC $2.8m Burst, Calls Agency Out On Twitter
Alleged couriers of the cash intercepted by the EFCC (Twitter/@OfficialEFCC) Alleged couriers of the cash intercepted by the EFCC (Twitter/@OfficialEFCC)

"Upon their arrests, they were caught with consignments of two suitcases, containing $1.4 million each, totalling $2.8 million, at the departure lounge of the airport while about to board an Arik Air evening flight to Lagos.

"During interrogation, the suspects confessed that they have been in the business of conveying cash for "some notable banks", for over six years and were in the process of doing same for Union Bank Plc, located at New Market, Onitsha, Anambra State, when they were caught.

"The suspects further confessed that they had so far carried out such assignments, "four times this year".

"They are presently giving useful information to operatives of the Commission, and will be charged to court soon."

Union Bank schools EFCC

In a swift response, Union Bank jumped on EFCC’s Twitter thread to educate the agency, on how banking operations are run.

The bank said “Movement of cash across states is routine for all banks.

Union Bank Faults EFCC $2.8m Burst, Calls Agency Out On Twitter
Cash intercepted by the EFCC (Twitter/@OfficialEFCC) Cash intercepted by the EFCC (Twitter/@OfficialEFCC)

“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.

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

The EFCC is yet to react to the statement issued by Union Bank.

(Pulse NG)

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