CBN Staff Arrested For Stealing Specimen Naira Notes


The Economic and Financial Crimes Commission on Thursday, May 19, 2016, arraigned one Mr. Vatsama Danladi before Justice M. M. Kolo of the FCT High Court, Abuja. He was charged with theft, illegal possession and use of specimen naira notes.

Mr. Danladi, a security guard with Kings Guard Security attached to Central Bank of Nigeria (CBN), ran into legal trouble when a bank found 299 pieces of 1000 naira notes marked “specimen” amounting to N299,000 during a process of cash count sometime in January.

On investigation, it was discovered that Mr. Danladi had deposited the specimen naira notes into his account through ATM deposit machines. Further investigations revealed that he also deposited another trenches of the specimen naira notes into his account in another new generation bank via the bank’s ATM deposit machine.

When the charge was read to him, Mr. Danladi pleaded not guilty and Justice Kolo granted him bail in the sum of N2 million with one surety.

See Also: Italy Rules ‘Stealing of Food By Hungry Poor’ As ‘Not A ‘Crime’

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CBN Building

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He said that three distribution companies got N8.67 billion, 14 generating companies and Nigerian Independent Power Project (NIPP) had N35.83 billion, Service Provider; N459.68 million and six gas companies got N10.49 billion. The disbursement was a major milestone in the effort of the bank, in collaboration with the Federal Government, to further address the challenges facing the power sector.

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The disbursement will also feature the signing of Power Purchase Agreement (PPA) by the Nigerian Bulk Electricity Traders (NBET). He added that the signing of the PPA would signal activation of industry contracts for power generation under a contract based market.

The CBN boss said that there were new entrants into the scheme, with two distribution companies in Benin and Jos.

The Minister of Power, Housing and Works, Babatunde Fashola, said that the government was committed to ensuring that power supply becomes stable. He stated that the government was committed to addressing all the challenges in the power sector. He implored those vandalising the pipelines to stop adding as the government had embarked on a cleaning programme of the affected areas. He urged consumers to also ensure that they pay for their bills to allow power firms to generate more revenues to ensure better service delivery.