According to an administrative letter sent to Banks and Other Financial Institutions (OFIs) signed by the CBN Director, Financial Policy and Regulations Department, Chibuzo Efobi and dated August 23, 2023, the apex bank directed financial institutions to commence investigations on the individuals involved in the heist to determine if there is any information about them in their database.
The investigation is pursuant to Regulation Four of the CBN Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing of Weapons of Mass Destruction in Financial Institutions Regulations, 2022, (CBN AML/CFT/CPF Regulations).
Turkish forces in June, confiscated $1 billion of counterfeit money in Istanbul. Six culprits were arrested in the raid, including a Nigerian, one Ghanaian and a Swedish nationals. The Nigerian suspect, Dele Bolade Samson Babaola holds both Nigerian and Swedish citizenship.
