Queue at the filing station The President, Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
The official, name withheld, was taken taken into custody for deliberately not uploading cash into her branch's Automated Teller Machines (ATMs) when the cash was available abs and people were quering at the ATMs.
The official, who is the Head, Stanbic Bank, Deidei Branch, Abuja was arrested by ICPC monitoring team, which stormed the bank around 1.30pm in order to ensure compliance and demanded explanation as to why the ATMs were not dispensing cash. However, response of the Branch's Head of Operation that the bank just got delivery of the cash was unable to pacify the team
However, facts available to the ICPC operatives indicated that the branch took delivery of the cash around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash.
Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.
Investigations are still ongoing, and the Commission will take appropriate actions as soon they are concluded.
In a related development, the ICPC Compliance Team in Oshogbo has busted an FCMB in Osogbo, Osun State where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed. The Team therefore directed that the wrappers be removed, and the cash loaded properly.
However, when a follow-up visit was undertaken the following day to ascertain the level of compliance, the Team discovered that one of the ATMs was still loaded with the wrappers un-removed.
The Operation Manager of the Bank was arrested and taken in for questioning.
Similarly, seven Point of Sale (POS) operators as well as a security guard were arrested during the ongoing exercise in Osun State for charging exorbitant commissions for cash. Investigations however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.
The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.
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