Police smash currency trading ring in Abuja

The FCT police command in collaboration with the Central Bank of Nigeria (CBN) Enforcement Committee on the Abuse of the Naira and the Department of State Services (DSS), on Friday, carried out a joint raid on illegal traders of naira at Dei-Dei under Bridge.

A press statement by the Police Public Relations Officer (PPRO) for the command, DSP Anjuguri Manzah, said six people were arrested during the raid for illegal trading and hawking of the naira contrary to Sections 20 and 21 of the CBN Act, 2007.

“The raid is part of the renewed effort of the committee to enforce of the provisions of the aforementioned sections of the Act, which proscribes the offence of selling, buying, spraying, and squeezing of the naira for which six months in prison or an option of N50, 000 fine or both are prescribed as penalty upon conviction,” he said.

He named the suspect as: Auwal Yunusa, 22; Mohammed Auwal, 20; Yusuf Shuaibu, 31; Suleiman Saidu, 38; Usman Ibrahim, 24; and Mohammed Salisu, 24.

According to him, “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 wants to reiterate its unwavering stance and readiness to sustain its raiding of identified areas where the naira is being abused.”

He said efforts were being intensified to arrest other suspects who escaped during the raid, adding that the suspects and exhibits had been transferred to the command’s Criminal Investigation Department (CID) for further investigation.

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