The Economic and Financial Crimes Commission (EFCC) has disclosed the arrest of members of a syndicate of currency racketeers hoarding and trading with the redesigned Naira notes in separate operations in Zone 4 and Dei Dei areas of the Federal Capital Territory on Saturday and Monday. The EFCC Head, Media and Publicity, Wilson Uwujaren, in a statement narrated that the operation followed intelligence on activities of unscrupulous currency speculators who were exploiting desperate citizens by offering them the new Naira notes for foreign currencies at below the going rate.
The EFCC said that the suspects have made useful statements, including disclosure that they were acting in cohort with some unscrupulous officials of Money Deposit Banks.
According to the Head of Media and Publicity, 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 demobilised. Financial system operators are also warned to desist from the sharp practices or risk arrest and prosecution, the commission said.
The statement added that Zonal Commanders of the EFCC met with officials of various banks in their Commands on Monday 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.