EFCC Arrests New Naira Notes Hoarders In Abuja

The Economic and Financial Crimes Commission (EFCC) has in separate operations arrested members of a syndicate of currency racketeers hoarding and trading the redesigned Naira notes.

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, January 28, and Monday, January 30.

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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Uwujaren further said that the suspects have made useful statements, including disclosure that they were acting in cohort with some unscrupulous officials of money deposit banks.

He also stated that the EFCC will extend the operation to all the major commercial centres of the country until all the syndicates involved in the illegal trade were demobilised.

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