Advertisement
2023 GOVERNORSHIP AND
STATE HOUSE OF ASSEMBLY ELECTIONS
- days
- Hours
- Minutes
- Seconds
Advertisement
The Commission said the operation followed intelligence on activities of unscrupulous currency speculators.
The Economic and Financial Crimes Commission (EFCC) on Monday said it nabbed members of a syndicate of currency racketeers hoarding and trading with redesigned naira notes.
EFCC spokesman, Wilson Uwajaren, said that the arrest happened in separate operations in the Zone 4 and Dei Dei axis of the Federal Capital Territory on Saturday and Monday.
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 anti-graft agency said.
He said the suspects have made useful statements, including disclosure that they were acting with some unscrupulous officials of Money Deposit Banks.
Advertisement
The commission vowed to extend the operation to all the major commercial centres of the country until all the syndicates involved in the illegal trade are demobilised.
It also warned financial system operators to desist from the sharp practices or risk arrest and prosecution.
According to a statement on Monday by DSS spokesman, Dr Peter Afunanya, the Service in the course of its operations, also established that some Commercial Bank officials are aiding the economic malfeasance.
Consequently, the Service warned the currency racketeers to desist from this ignoble act.
(Channels TV)
Disclaimer
Contents provided and/or opinions expressed here do not reflect the opinions of The Pacesetter Frontier Magazine or any employee thereof.
Support The Pacesetter Frontier Magazine
It takes a lot to get credible, true and reliable stories.
As a privately owned media outfit, we believe in setting the pace and leaving strides in time.
If you like what we do, you can donate a token to us here. Your support will ensure that the right news is put out there at all times, reaching an unlimited number of persons at no cost to them.
Related posts
Stay connected
Recent News
Kano Judge Vacates Order Suspending Ganduje as APC Nat’l Chairman
Advertisement A Kano State High Court presided over by Justice Usman NaβAbba has vacated the order suspending ex-Kano governor Umar…
IGP Egbetokun kicks against state-controlled police, says Nigeria not yet ripe for it
Advertisement The Inspector General of Police, Olukayode Egbetokun, has opposed the establishment of State Police, saying the country was not…