The Economic and Financial Crimes Commission (EFCC) has arrested members of a syndicate hoarding and selling the redesigned naira notes in Abuja.
This was disclosed by EFCC spokesperson, Wilson Uwujaren, in a statement.
According to him, the suspects were arrested around zone 4 and Dei Dei axis of the federal capital territory (FCT) and had confessed to be working in connivance with some commercial bank officials.
The statement further noted that 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.
“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,” the statement read.
On Monday, the Department of State Services (DSS) also said it had arrested members if similar syndicates. The DSS also fingered commercial banks as being behind the syndicates.
