Home News EFCC Arrests New Naira Notes Hoarders In Abuja

EFCC Arrests New Naira Notes Hoarders In Abuja


EFCC Arrests New Naira Notes Hoarders In Abuja



The Economic and Financial Crimes Commission has said it arrested members of a syndicate of currency racketeers hoarding and trading in the redesigned Naira notes in Abuja.

According to the EFCC spokesperson, Wilson Uwujaren, the operations were carried out in Zone 4 and Dei Dei axis of the Federal Capital Territory between Saturday and Monday.

He noted that the operation followed intelligence on activities of unscrupulous currency speculators who were exploiting citizens by offering them the new naira notes for foreign currencies at below the going rate.

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The action came a day after the governor of the Central Bank of Nigeria, Godwin Emefile, said the apex bank would collaborate with law enforcement agencies such as the EFCC and the Independent Corrupt Practices and Other Related Offences Commission, to track such heavy withdrawals.

Also, on Monday, the Department of State Security Service revealed that its operatives arrested some currency traders who have turned the sale of newly redesigned notes into brisk business.

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The secret police also alleged that the perpetrators were working in cahoots with officials of commercial banks.

Meanwhile, the EFCC further noted that its findings revealed that some of the money traders are working with officials of Money Deposit Banks, adding that it’ll extend its operation to all major commercial centres across the country until all syndicates involved in the illegal trade are demobilized.

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