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Nigeria's EFCC Arrests Top Bankers Over 'mega Scam' -BBC by anulaxad(m): 3:17pm On Jun 01, 2015
Nigeria's EFCC arrests top bankers over 'mega scam'
4 minutes ago
From the section Africa
Naira
Boxes were allegedly filled with newspaper cut into the shape of banknotes
Nigeria's anti-corruption agency has arrested six senior central bank officials over an alleged $33m (£21m) currency fraud.
The Economic and Financial Crimes Commission (EFCC) also held 16 private bank workers for the "mega scam".
The suspects stole "tonnes of defaced naira notes", which were meant to be destroyed, it said on its website.
Newly-installed Nigerian President Muhammudu Buhari has pledged to make tackling corruption a priority.
The arrests were made last week, before the president's official swearing-in ceremony, and so should not be seen as part of Mr Buhari's promised clampdown on corruption, reports the BBC's Will Ross from Lagos.
The move is more likely to be a show of strength from the EFCC, in an attempt to prove its relevance, our correspondent adds.
The suspects allegedly filled boxes supposed to contain damaged currency with bits of newspaper cut into the shape of naira notes, before sending them to branches of the Central Bank of Nigeria for destruction, according to the EFCC.
The actual banknotes were held back so that they could be reused, it adds.
The EFCC suspects the scam of incinerating newspaper instead of old notes has been going on for years and has been on such a scale it has put inflationary pressure on the economy.
Many analysts say the EFCC has been extremely weak when it comes to fighting corruption as low-ranking officials tend to be investigated rather than so-called big fish who appear untouchable, our correspondent says.
The suspects are to make their first appearances at the federal court in the city of Ibadan on Tuesday.

http://www.bbc.co.uk/news/world-africa-32958635
Re: Nigeria's EFCC Arrests Top Bankers Over 'mega Scam' -BBC by Hakagure: 3:20pm On Jun 01, 2015
Who are the bankers?
Re: Nigeria's EFCC Arrests Top Bankers Over 'mega Scam' -BBC by Nobody: 3:23pm On Jun 01, 2015
.
Re: Nigeria's EFCC Arrests Top Bankers Over 'mega Scam' -BBC by anulaxad(m): 3:28pm On Jun 01, 2015
In my opinion, I believe this arrests were taken out to impress GMB (PMB), I mean how many arrests have you heard of that EFCC has conducted over the most part of Jonathan's administration.
Re: Nigeria's EFCC Arrests Top Bankers Over 'mega Scam' -BBC by alaoeri: 3:31pm On Jun 01, 2015
The thieving & scamming going on in banking sector & other financial institutions is more than that of yahoo boiz.
Re: Nigeria's EFCC Arrests Top Bankers Over 'mega Scam' -BBC by atlwireles: 3:40pm On Jun 01, 2015
anulaxad:
In my opinion, I believe this arrests were taken out to impress GMB (PMB), I mean how many arrests have you heard of that EFCC has conducted over the most part of Jonathan's administration.

Look at the names involved, it will answer your question. grin grin grin grin
Re: Nigeria's EFCC Arrests Top Bankers Over 'mega Scam' -BBC by OKame(m): 4:04pm On Jun 01, 2015
so that corruption body still exists...EFCC has been dormant for 4years even when evidence of financial crimes where glaring for all to see.Government resources used in running this body for 4 years should have been used for other relevant things.

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