The Economic and Financial Crimes Commission said it has arrested members of a syndicate of currency racketeers hoarding and trading in the redesigned Naira notes in Abuja.
The development was confirmed by the spokesperson of the EFCC, Wilson Uwujaren, on Tuesday in Abuja.
Uwujaren said the operations were carried out in Zone 4 and Dei Dei axis of the Federal Capital Territory between Saturday and Monday.
He said in a statement on Tuesday: “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 demobilized.
“Financial system operators are also warned to desist from the sharp practices or risk arrest and prosecution.
“Zonal commanders of the EFCC 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.”
