New Naira: EFCC arrests members of trading syndicate in Abuja
The Economic and Financial Crimes Commission (EFCC) has arrested members of a syndicate selling the new Naira notes in Abuja.
The EFCC’s Head of Media and Publicity, Wilson Uwujaren, who confirmed the development in a statement on Monday in Abuja, said the suspects were arrested around zone 4 and the Dei Dei axis of the nation’s capital.
He added that the suspects had confessed to EFCC investigators that they were working in connivance with some commercial bank officials on the illegal business.
The Department of State Service (DSS) had also arrested some individuals trading on the new banknotes in different parts of the country.
Uwujaren said: “The operation followed intelligence on activities of unscrupulous currency speculators who were exploiting desperate citizens by offering them the new Naira notes for foreign currencies at below the going rate.
READ ALSO: DSS intercepts sellers of new Naira notes, says bank officials implicated
“The suspects have made useful statements, including a disclosure that they were acting in cohort with some unscrupulous officials of Money Deposit Banks.
“The Commission will extend the operation to all the major commercial centres of the country until all the syndicates involved in the illegal trade are demobilised. Financial system operators are also warned to desist from the sharp practices or risk arrest and prosecution.
“Zonal Commanders of the EFCC today, also met with officials of various banks in their Commands in an effort to ascertain the volume of the new notes issued to the commercial banks and how the banks were dispensing the monies to their customers.
“The Commanders urged the financial market operators to ensure compliance with the guidelines set by the Central Bank of Nigeria while disclosing that they have dispatched operatives across their Commands to monitor the level of compliance by banks and other operators in the financial market.”
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