The Economic and Financial Crimes Commission (EFCC) says it has arrested members of a syndicate of currency racketeers hoarding and trading in the redesigned Naira notes in Abuja.
EFCC spokesperson, Wilson Uwujaren, said in a statement on Monday that the operations were carried out in the Zone 4 and Dei Dei axis of the Federal Capital Territory (FCT) between Saturday and Monday.
According to the commission, 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 action came a day after the governor of the Central Bank of Nigeria, Godwin Emefile, said the bank would collaborate with law enforcement agencies like EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to track such heavy withdrawals.
The CBN also extended the deadline for the validity of the old N200, N500 and N1,000 naira notes from 31 January to 10 February.
Many Nigerians had called for the extension due to the scarcity of the new notes, despite the claims by the CBN that it had circulated enough of such.
PREMIUM TIMES had reported on Monday that the State Security Service (SSS) arrested some currency traders who have turned the sale of newly redesigned notes into brisk business.
The secret police also alleged that the perpetrators were working in cahoots with officials of commercial banks.
Banks complicit
The EFCC also said its findings have revealed that some of the money traders are working with officials of Money Deposit Banks.
It further said the commission would extend its operation to all the major commercial centres of the country until all the syndicates involved in the illegal trade are demobilised
“The suspects have made useful statements, including 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.
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“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 anti-corruption agency urged financial market operators to ensure comfvpliance with the guidelines set by the Central Bank of Nigeria.
“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.”
