Claim: A viral screenshot asserts that the EFCC arrested the Managing Director of First Bank, Nnamdi Okonkwo, for releasing N400 billion to Tinubu.
Verdict: FALSE. A press statement by the EFCC debunked the assertion that N400 billion was found at Mr Tinubu’s residence.
Full Text
Amid the new Naira note controversy, a viral screenshot of a news story posits that the Economic and Financial Crimes Commission (EFCC) arrested the Managing Director of First Bank, Nnamdi Okonkwo, for releasing N400 billion naira redesigned notes to the presidential candidate of the All Progressives Congress Bola Tinubu.
The screenshot published on Instagram by crowdailyng stated that the order came after President Buhari ordered the EFCC to invade the home of Mr Tinubu in Abuja, where the N400 billion was held, hostage.
Crowdailyng stated that the total money printed by CBN to cycle to the nation is N700 billion, and Tinubu “held” N400 billion, leaving Nigerians to scramble for the remaining amount (N300 billion).
We also discovered that this was making the rounds on WhatsApp.
The delicate issue of Naira scarcity and the timing of this information (with the election just a few days away) prompted us to verify this as it can lead to the nation’s unrest and agitation.
Verification
We conducted an advanced search on the story and discovered that it was originally posted by Igbotimesmagazine.online. We observed that this website, populated with advertisements, publishes false and misleading reports, which was the first red flag.
We also realised that the person named in the original story by the blog as First Bank’s MD is wrong. In the story, ‘Okoro Dike’ was named MD of First Bank instead of ‘Nnamdi Okonkwo’. This was another red flag.
Further investigation also revealed that the EFCC had put out a statement on Facebook and Twitter debunking the news. In the press release, the spokesperson for the commission stated such an operation was not carried out by the commission and that the news should be disregarded.
Conclusion
Our findings show that the story circulating on social media and other platforms is false. A press statement by the EFCC debunked the assertion that N400 billion was found at Tinubu’s residence.
