Gunmen on Friday attacked a new generation bank in Iyin Ekiti area of Ekiti State.
The Police Public Relations Officer in the State, Sunday Abutu, confirmed the incident to Channels Television via a phone call.
He said no casualty has been confirmed, adding that the police team is working to launch a manhunt for the criminal gang.
Sources said the armed robbers, numbering close to 10, carted away large sums of money after blowing up the security door to gain access.
Residents of the town and travellers in transit reportedly scampered for safety following the sporadic gunshots that accompanied the arrival of the gang.
The operation was said to have lasted for at least 40 minutes without any police interruption, raising questions about the absence of security operatives despite the presence of a police station in the town and the nearness of other police stations in bordering towns.
Just a few days ago, the State Police Command had asked residents to be cautious, warning of the presence of suspected armed hoodlums planning to cause panic.
The police authorities, however, gave the assurance that the Force is committed to saving lives and properties.