According to a report by Premium Times: One of Nigeria’s oldest financial institutions, Union Bank, on Friday night admitted ownership of a large consignment of cash which anti-graft operatives said they intercepted at the international airport in Enugu.
The Economic and Financial Crimes Commission (EFCC) had yesterday announced in a statement that two men were arrested at Akanu Ibiam International Airport with a combined cash of $2.8 million (over N1 billion at N360 per dollar).
The agency said the suspects mentioned their affiliation to Union Bank and Bankers Warehouse, a cash-in-transit contractor.
The anti-graft office said it was investigating the recovery as money laundering.
But Union Bank strongly denied wrongdoing, saying the practice was standard in the banking industry and its contractors were licensed by the Central Bank of Nigeria.
In a string of tweets directed at the EFCC on Friday night, Union Bank criticized the anti-graft office for being too hasty at disclosing the development to the public, “prior to the completion” of investigation.
Also, PREMIUM TIMES learnt on Saturday from Tony Orilade, a spokesperson for the EFCC, that the money was intercepted at about 7:00 p.m. on Thursday, and it came barely a few weeks after operatives recovered about N940 million from a Lebanese and another $370,000 at Lagos Airport.