Yobe:\u00a0 Bank MD Raises Alarm Over N4.3 billion Cash Diversion<\/p>\n
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The managing director of the Yobe Micro Finance Bank, Sheriff Almuhajir, has alleged that the sum of N4.3 billion approved by the Central Bank of Nigeria, CBN, for banks in Yobe State has been diverted elsewhere.<\/p>\n
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Mr Almuhajir made the claim in a video posted on his Facebook page on Tuesday.<\/p>\n
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\u201cMy people of Yobe State and Damaturu in particular, I want to tell you that I got reliable information that the Central Bank of Nigeria, Damaturu Branch, has brought N1000 denominations of 4.3 billion naira to Yobe State,\u201d Mr Almuhajir raised an alarm.<\/p>\n
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\u201cMore than N700 million of the amount was meant for POS agents. But the question I want to ask then is where are these monies?<\/p>\n
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\u201cI can authoritatively tell you that N4.3 billion was not shared in Yobe state.<\/p>\n
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\u201cI can also tell you that we don\u2019t have N1 billion of the new currency in circulation in this state. What is the population of the Yobe State?<\/p>\n
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\u201cHow many commercial banks do we have in this state. How many ATM machines do we have?\u201d<\/p>\n
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The microfinance bank CEO argued that even if the ATM machines would be dispensing cash every minute, the amount could not be withdrawn in a week.<\/p>\n
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\u201cEven if the ATM machines have been dispensing cash every minute between last week and today, I can assure that we have not withdrawn N1 billion in this state.<\/p>\n
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\u201cWe saw how people sleep at ATM machines. There has never been a time when you don\u2019t see people in long queues at ATM points.<\/p>\n
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\u201cIt\u2019s pathetic that we have got to a stage where children can\u2019t go to school, small business owners have closed shops all because there is no cash at hand to run the business. The poor man\u2019s life has been made difficult,\u201d he said.<\/p>\n
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Mr Almuhajir accused some managers of the commercial banks of diverting the funds out of the state.<\/p>\n
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\u201cI insist that these monies are not in Yobe State; if you\u2019re in doubt, prove me wrong. Show me where they are kept. Or in whose possession they are, the people that got the money.<\/p>\n
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Mr Almuhajir added that even the state government can\u2019t boast of having N1 million naira in cash in its possession.<\/p>\n
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\u201cI am very optimistic that these monies were diverted out of the state and we won\u2019t accept that.<\/p>\n
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\u201cEven though I am aware that investigation is ongoing, we want stakeholders to come together and find out where the monies were taken to. Because the monies were never dispensed to our people.<\/p>\n
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\u201cHow can a very few people hold us to ransom? We can\u2019t even pay for little things.<\/p>\n
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\u201cWe don\u2019t even have up to 50 ATMs in the state, so how can people withdraw N4.3. billion in a short period of time?<\/p>\n
He chastised the commercial banks, saying some Points of Sale, PoS operators provide better service than some of the banks.<\/p>\n
Dailynigerian<\/p>\n","protected":false},"excerpt":{"rendered":"
Yobe:\u00a0 Bank MD Raises Alarm Over N4.3 billion Cash Diversion The managing director of the Yobe Micro Finance Bank, Sheriff Almuhajir, has alleged that the sum of N4.3 billion approved by the Central Bank of Nigeria, CBN, for banks in Yobe State has been diverted elsewhere. Mr Almuhajir made the claim in a video posted […]<\/p>\n","protected":false},"author":5,"featured_media":14765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[],"class_list":["post-14760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"\n