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Over N400bn Notes Apportioned for Commercial Banks in Yobe Are ‘Missing’

Sheriff Almuhajir, Managing Director of Yobe Micro Finance Bank, said over N400 billion new notes approved by Central Bank of Nigeria (CBN) are missing in Yobe State.

The microfinance bank’s boss estimated the missing noted at N4.3 billion. Daily Nigerian reported that Almuhajir revealed this in a video posted on his Facebook handle.

Almuhajir, in the avudeo claimed that the money was diverted “elsewhere.”

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“My 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,” he stated in the video.

He added: “More than N700 million of the amount was meant for POS agents. But the question I want to ask then is where are these monies?

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“I can authoritatively tell you that N4.3 billion was not shared in Yobe state.

“I can also tell you that we don’t have N1 billion of the new currency in circulation in this state. What is the population of the Yobe State?

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“How many commercial banks do we have in this state. How many ATM machines do we have?”

“Even if the ATM machines have been dispensing cash every minute between last week and today, I can assure that we have not withdrawn N1 billion in this state.

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“We saw how people sleep at ATM machines. There has never been a time when you don’t see people in long queues at ATM points.

“It’s pathetic that we have got to a stage where children can’t go to school, small business owners have closed shops all because there is no cash at hand to run the business. The poor man’s life has been made difficult.”

He further accused some managers of the commercial banks of diverting the funds out of the state.

“I insist that these monies are not in Yobe State; if you’re in doubt, prove me wrong. Show me where they are kept. Or in whose possession they are, the people that got the money,” he said, adding the available cash in the state is not up to N1 million.

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He continued: “I am very optimistic that these monies were diverted out of the state and we won’t accept that.

“Even 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.

“How can a very few people hold us to ransom? We can’t even pay for little things.

“We don’t even have up to 50 ATMs in the state, so how can people withdraw N4.3. billion in a short period of time?”

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