Police Arrest 6 For Illegal Sale Of Nigerian Currency

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 on Friday 31st May, 2019 at about 10.30am carried out joint raid at Dei-Dei under bridge where six persons were arrested for illegal Trading and Hawking of Nigeria Currency.

The offence is contrary to Sections 20 and 21 of the CBN Act, 2007.

According to FCT Commissioner of Police, CP Bala Ciroma, the raid is part of the renewed effort of the Committee to enforce the provisions of the aforementioned Sections of the Act.

The act prescribes for punishment of 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 penalty upon conviction.

He said that consequent upon the raid, it recorded huge success with the recovery of the total sum of One Million, Nine Hundred and Forty-Eight Thousand Sixty Naira (N1, 948,060) from the six suspects arrested and others at large at Dei-Dei under bridge.

The enforcement Committee wants to reiterate its unwavering stance and readiness to sustain its raiding of identified areas where the naira is being abused. The suspects arrested and are Auwal Yunusa 22 years old, Mohammed Auwal 20 years old, Yusuf Shuaibu 31 years old, Suleiman Saidu 38 years old, Usman Ibrahim 24 years old anf Mohammed Salisu 24 years old.

Exhibits recovered include One Million, Nine Hundred and Forty- Eight Thousand Sixty Naira (N1, 948,060) in the following denominations: N200, N50, N20, N10 and N5. He said effort has been intensified to arrest other suspects who escaped during the raid. The suspects and exhibits have been transferred to the Command Criminal Investigation Department for further investigation. The case will be charged to court upon completion of investigation.