Millions were taken from the vaults of the Northern Bank last December

The 23-year-old, the first person charged over the raid, is to appear in court in Belfast on Friday.

He was also charged with falsely imprisoning a bank worker and his wife and having a gun or imitation firearm.

Another man, aged 25, has been freed without charge. Three other men are still being questioned by police about last December's armed robbery.

The man charged with the robbery was arrested in Kilcoo late on Tuesday.

The 25-year-old man who was released on Thursday was also detained during searches in the County Down village.

In County Tyrone on Thursday, a 40-year-old man was arrested in Dungannon and a 43-year-old man was arrested in Coalisland.

A 30-year-old man arrested in Belfast on Wednesday is also being questioned.

Police on both sides of the Irish border have blamed the IRA for the robbery. The IRA has denied this.

The robbery happened at the bank's headquarters in Donegall Square West in the city centre in December 2004.