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Claim: An X user, @Sebastineogb, shared a video claiming the Economic and Financial Crimes Commission (EFCC) discovered stacks of spoilt naira notes in a container in Abuja.
Verdict: Misleading! The recirculated video was a 2022 clip showing condemned bank notes found in Wadata Police Barracks in Benue State.
Full Text
Nigeria’s economic situation has left many citizens frustrated. Harsh economic conditions, compounded by impulsive policies, have further worsened living standards. Many Nigerians turn to social media daily to express their dissatisfaction with the government.
The Central Bank of Nigeria recently announced new ATM charges for both “on-site” and “off-site” withdrawals, which translates to higher cash withdrawal charges for Nigerians.
Some Nigerians have condemned this move, set to begin on March 1, 2025, criticising the growing tax burden on the working population. Other concerned citizens also decried poor leadership in the country.
Joining the conversation, an X user, @Sebastineogb, shared a video claiming the EFCC recently discovered a stash of naira notes in a container in Wadata, Abuja.
He captioned the video as “Breaking News:- EFCC Discovered money hidden in a container in Wadata, Abuja. This is why our politicians will never make heaven, just look at our money. The election of bad leaders has consequences.”
Some of his followers believed the video to be recent as they condemned the ‘selfishness’ of African leaders who otherwise embezzle public funds rather than serve the people the money is intended for.
The post was also shared on Facebook, as seen here, here and here.
Verification
A keyframe analysis of the video showed that it had been online since 2022. Residents had discovered perceived sacks of naira notes close to Wadata Police Barracks in Benue State. The banknotes were said to have been hidden for years.
However, at the time, a source from the anti-graft agency told PUNCH that the sack contained condemned notes from the Central Bank of Nigeria.
He explained that the owner of the notes bought the condemned notes from EFCC, cut them into pieces, and squeezed them for another purpose.
Similarly, the Benue police confirmed that they had invited the shop’s owner, Mr. Isah Suleiman, for questioning. Isah reportedly tendered a waste management licence issued to him by the CBN.
The police explained that the wasted papers from the CBN were usually processed into mosquito repellents.
Conclusion
The recirculated video was intended to mislead unsuspecting members of the public. The clip originated from 2022.
