Police investigate €4 million black-hole in BNA’s agency in El Oued
National Bank of Algeria shaken by another financial scandal
Security services in El Oued province, south east of Algeria, investigate on what is believed to be the embezzlement of 400 million Dinars (about 4 million Euros) from a local agency of Algerian National Bank (BNA).
- Well informed sources said the embezzled amount is likely due to bad cheques issued by local businessmen to purchase stuffs which the bank has covered for years, as their accounts do not possess the required amounts.
- Such a black-hole inflected considerable losses to the BNA, including failure to pay assets of 12 clients.
- This scandal was covered up when some clients submitted a claim to the central office of the BNA over the disappearance of considerable amounts from their accounts.
- Then, the general prosecutor ordered competent services to open an investigation on the issue after being notified by BNA central office.
- The manager of BNA’s agency in El Oued was placed under legal restrictions pending trial. He was deprived from his passport and banned from leaving the territory of El Oued without authorization.