EFCC arrests three persons for selling naira notes in Kaduna

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The Kaduna Zonal Command of the Economic and Financial Crimes Commission (EFCC) has apprehended three individuals for their involvement in an alleged illegal activity related to the manipulation of N1,307,400.

In a statement released on Wednesday, Oyewale, the spokesperson for the anti-graft agency, confirmed the arrest. He disclosed that the EFCC had taken action against individuals engaged in the illicit practices of issuing invoices in foreign currency and defacing the local currency in Lagos and Rivers States.

In response to the devaluation of the Nigerian naira, the EFCC has established a Special Task Force across its various commands. This strategic move enables their operatives to crack down on those responsible for defacing the naira and promoting dollarization in the Nigerian economy.

According to information obtained by 9News Nigeria, the trio of individuals leading the government bodies responsible for safeguarding the national currency recently convened to strategize on combating fraudulent activities related to foreign exchange, particularly those perpetrated by Bureau De Change operators. Their intention was to devise effective measures to address and prevent such illicit practices.

Oyewale said, “The suspects, Musa Gideon, Abdul Adamu, and Justine Musa were arrested along Yakubu Gowon way, Kaduna on Wednesday, February 7, 2024, while trying to sell new naira notes to an EFCC’s undercover operative.

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“The operative, a member of the Special Task Force set up for the enforcement of extant laws against currency mutilation and dollarisation of the economy by the EFCC Chairman, Ola Olukoyede, functioned in a sting operation carried out by the team.

“The operation yielded the arrest of the three suspects selling new and old naira notes to the tune of N1,307,400 and many Automated Teller Machine cards.

“The suspects would be charged to court as soon as investigations are concluded.”

Oyewale said, “The EFCC has raised a Special Task Force in all its Zonal Commands for the enforcement of extant laws against currency mutilation and dollarization of the economy.

“The Task Force, inaugurated by the Executive Chairman of the commission, Ola Olukoyede, was raised to protect the economy from abuses, leakages and distortions exposing it to instability and disruption

“Already, the commission has made some arrests of perpetrators of issuance of invoices in dollars and mutilation of the Naira in Lagos and Port Harcourt.

“Also, proprietors of private Universities and other institutions of higher learning charging fees in dollars have been invited by the Commission.

“The commission is committed to the enforcement of all laws in place for the reflation and stimulation of the economy.”

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The EFCC Chairman, Olukoyede had last Friday, met with the Minister of Finance, Wale Edun, and the Governor of the Central Bank of Nigeria, Yemi Cardoso, over foreign exchange issues causing the continued fall of the naira.

Our correspondent gathered that the three men who head the government agencies in charge of securing the naira, met to find ways to fight foreign exchange fraud, especially as it involves Bureau De Change operators.

– 9News Nigeria

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