‘It Was A Legitimate Operation’ — Union Bank Explains $2.8m Confiscated At Enugu Airport

The management of Union Bank has explained that the men who were
arrested at the Enugu Airport by operatives of the Economic and
Financial Crimes Commission (EFCC) were on a legitimate
assignment.

EFCC operatives had paraded two men on Friday as alleged
fraudsters who were in possession of $2.8 million.

In tweets posted on its official Twitter page, Union Bank
explained that the operation was licensed by the Central Bank of
Nigeria (CBN).

#MoneyLaundering EFCC intercepts
$2.8million at Akanu Ibiam International Airport, Enugu. The
couriers have given useful information to investigators. >>
https://t.co/5ciI0VudaS
pic.twitter.com/tJhYXO0VN9^[1][2][3]

— EFCC Nigeria (@officialEFCC) December
21, 2018^[4]

2: Bankers Warehouse is licensed by CBN to
provide Cash-in-Transit services

— UNION BANK (@UNIONBANK_NG) December
21, 2018^[5]

“Movement of cash across states is routine for all bank. Bankers
Warehouse is licensed by CBN to provide Cash-in-Transit services,”
the bank said.

“We are surprised by the release of a news bulletin prior to the
completion of @officialefcc investigation. This is a legitimate and
routine operation consistent with banking.”

Similarly, Bankers Warehouse has reacted to the development by
writing the CBN.

READ ALSO:
The Legality Or Otherwise Of Keeping A Large Sum
Of Cash (Money) At Home. By O. G.
Chukkol^[6]

In a letter addressed to the CBN deputy governor, Lawrence
Ijebor, Bankers Warehouse head of operations, said the EFCC
insisted on detaining their employees despite the means of
identification provided.

“Despite the information provided, the EFCC insisted on
detaining our employees, taking possession of our goods and
threatening to confiscate the currency, without making themselves
available to our senior managers or other agencies familiar with
our movements,” the letter read.

“We seek your intervention as our regulator, to address this
issue of constant harassment of our staff, by security
agencies.”

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