Union Bank claims $2.8 million intercepted by EFCC at Enugu airport, denies wrongdoing

By Sageer Kabeer

Union Bank of Nigeria has claimed ownership of the $2.8 million intercepted by the operatives of Economic and Financial Crimes Commission (EFCC) on Friday at Enugu airport.

Reacting through series of tweets via it’s official handle @UNIONBANK_NG, the first generation bank strongly denied wrongdoing, saying the practice was standard in the banking industry and its contractors were licenced by the Central Bank of Nigeria.

EFCC said it was investigating the recovery as money laundering.

The anti-graft agency said the suspects mentioned their affiliation to Union Bank and Bankers Warehouse, a cash-in-transit contractor.

The bank said “Movement of cash across states is routine for all banks.

“Bankers Warehouse is licensed by CBN to provide Cash-in-Transit services.

“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.”