Stella Dimoko Union Bank Claims Ownership Of $2.8 Million Recovered By EFCC At Enugu Airport


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Saturday, December 22, 2018

Union Bank Claims Ownership Of $2.8 Million Recovered By EFCC At Enugu Airport

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 announced in a statement Friday evening that two men were arrested at Akanu Ibiam International Airport with a combined cash of $2.8 million (over N1 billion at N360 a 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 licenced by the Central Bank of Nigeria.

In a string of tweets directed at the EFCC on Friday night, Union Bank criticised the anti-graft office for being too hasty at disclosing the development to the public, “prior to the completion” of investigation.

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.

Mr Orilade said the agency was unconvinced by Union Bank merely claiming ownership of the money on Twitter. “Investigation is ongoing, which might prompt prosecution or no prosecution,” the EFCC chief said. “But we would like to let Nigerians know that when we see anything close to infringement of the law, we do not leave anything to chances.”

From premium times

This is what a BV said to the first story posted.......I hail oh,the all knowing BVs.


  1. Nigeria the zoo country, EFCC keep disgracing our dear country

  2. OMG... I made that comment. And Stella trust me, banks use this means to move money... Now these monies may not be thiers... Maybe they are moving for a client but they will move it in thier name. Nigerian police and thier stupidity. They won't investigate first before spewing trash just to score. Now these men are innocent. I won't be surprised they are still holding them.
    The best way to move valueables is without noise (security and the whole shebang) that way, no one will even look at you twice or think you are carrying something of great value.

    1. Na wah oh, they should feel the innocent people biko

  3. So EFCC doesn’t even know about bankers warehouse! SMH.

  4. Efcc is on to something here, CIT is a normal practice.Banks move cash like this everyday, but for this one to have been held spells a lot.I have personally been involved in movements like this,they should have pre-informed the law enforcement at the airport in writing and get an acknowledgement before attempting to board the aircraft.This process takes very little time and it's routine. This particular case has a lot of red flags, that's why I suppose efcc is not letting them off.

  5. If EFCC does not name the real owner's of the ikoyi apartment billion's they have no fundamental right to arrest, stop any individual or group.

  6. Banks do it. Ask people in operations especially cash management unit. That used to be my friends job function b4 he left FCMB

  7. Banker's warehouse has written to CBN concerning this.

  8. Efcc always doing cheap publicity without real fact.

    1. Don't mind the idiots... Shameless lot

  9. God!!!! EFCC is a disgrace!!! How can you say if you see any thing "close to infringement of the law" whereas the main aim of your creation is "investigation,prosecution (amongst others) of any form of illicit act" as promulgated by the law. They are running after what is "close to infringement of the law"🤔🤔🤔🤔🤔😬😬😬😬


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