Sterling Bank has denied the allegation laid against them by the Independent Corrupt Practices Commission (ICPC). According to reports, the ICPC discovered the sum of N258 million stashed in the vault at the Abuja regional office of Sterling Bank.
In the statement shared by the bank, it claimed that the media and the government are in cahoots to tarnish the reputation of the financial institution by using false accusations.
“The news media and the government are entwined in a vicious circle of mutual manipulation, mythmaking, and self-interest. The two institutions have become so ensnared in a symbiotic web of lies that the news media are unable to tell the public what is true, and the government is unable to govern effectively.”
The above statement did not deny the allegation laid against the bank but urged the media to desist from exaggerating the whole matter.
Backstory
It was earlier reported that the ICPC found the sum of N258 million stored in the vault at the Abuja regional head office of the Sterling Bank Plc.
This resulted in the arrest of both the bank’s Regional and Service managers, who were later granted administrative bail while the investigation continues. The ICPC on the other hand, assured Nigerians that the Federal Government will continue to fight against naira hoarding in the country.
This is coming at a time when Nigerians across the country are enduring long queues at ATMs and banking halls in a desperate bid to access cash.
Conclusion
In the midst of the cash scarcity epidemic, a seven-member panel of the Supreme court today temporarily halted plans to completely ban the use of the old naira notes across the country on February 10th.
Could things ever get better with this supreme court’s decision. We hope so.
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