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Nigerian Police nabs 6 suspected illegal money traders in Abuja

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2 years ago

July 4, 2022

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The FCT Police Command has arrested six suspects for illegally trading in different denominations of new naira currency.

The suspects are; Auwal Yunusa ‘m’ 22 years old, Mohammed Auwal ‘m’ 20 years old, Yusuf Shuaibu ‘m’ 31 years old, Suleiman Saidu ‘m’ 38 years old, Usman Ibrahim ‘m’ 24 years old and Mohammed Salisu ‘m’ 24 years old.

They were arrested on Friday in Dei-Dei area of Abuja during a joint raid by the Central Bank of Nigeria Enforcement Committee on the Abuse of the Naira in collaboration with the FCT Police Command and Department of State Security Services.

The Police recovered from them N1,948,060 in 200, N50, N20, N10 and N5 denominations.

Details of the arrest is contained in a statement by the Command on Friday. It reads: ” On 31st May 2019 at about 1030hrs. Police carried out a joint raid at Dei-Dei under bridge where six persons were arrested for illegal Trading and Hawking of Nigeria Currency contrary to Sections 20 and 21 of the CBN Act, 2007.

“The raid is part of the renewed effort of the Committee to enforce the provisions of the aforementioned Sections of the Act, which prescribes the offence of selling, buying, spraying and squeezing of the Naira for which, six months imprisonment or an option of N50,000 fine or both are prescribed as a penalty upon conviction.

“Consequent upon the raid which recorded huge success with the recovery of the total sum of N1, 948,060 from the six suspects arrested and others at large at Dei-Dei under bridge.”

The enforcement Committee reiterated its stance and readiness to sustain its raiding of identified areas where the naira is being abused.

The Police while stating that effort is been intensified to arrest other suspects who escaped during the raid added that the suspects and exhibits have been transferred to the Command Criminal Investigation Department for further investigation.

It also disclosed that the case will be charged to court upon completion of investigation.