In a recent development, the Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) has successfully apprehended 11 individuals suspected of involvement in currency racketeering activities.
According to a statement released by Dele Oyewale, the Head of Media and Publicity for EFCC, the arrests took place on Monday, February 19, 2024, following actionable intelligence received by the commission.
The suspects were allegedly operating a syndicate engaged in the illicit sale of new Nigerian naira notes for commercial gains. The fraudulent activities were purportedly centered around Lagos Street, in close proximity to the Central Bank of Nigeria's Kano branch.
During the operation, EFCC operatives nabbed five members of the syndicate in possession of newly minted naira notes, which they were actively vending to the public.
Additionally, six individuals believed to be banking professionals were apprehended on allegations of facilitating the distribution of the illicit currency to the sellers in exchange for commissions.
As investigations into the matter progress, the arrested individuals will undergo thorough scrutiny, and upon completion of the inquiry, they will be arraigned in court to face appropriate legal action.
The EFCC continues to intensify its efforts in combating financial crimes and ensuring the integrity of Nigeria's currency system, as emphasized by these recent arrests in Kano.
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