The New Experience Newspapers Online News Indepth, Analysis and More
The Lagos State Police Command in collaboration with Central Bank of Nigeria raided markets within Ikeja and environ where Nigerian currency is illegally traded.
The operation was carried out on Friday 12th and Saturday 13th July, 2019; the suspects were arrested and exhibits recovered from them during the raid.
The suspects namely, Adetoro Adijat, ‘f’,37, Mahmoud Ayoola, ‘f’
,42, Eze Madu, ‘m’, 27, Olorunfunmi Shakirat, ‘f’,38, Akonji Julius, ‘m’ 40, Olalekan Kadri, ‘m’ 23, Akinsonya Abiodun, ‘m’ 34 and Adeniyi Yetunde, ‘f’ 30, were arrested in connection with the crime.
The Police Public Relations Officer, DSP Bala Elkana said :that the operation lasted for several days, as the Police acted on credible intelligence and raided markets within Ikeja and environs where Nigerian currencies were being hawked.
The cash sum of Two million, four hundred and forty thousand, five hundred and fifty Naira (N2,440,550.00) mint of different denominations, used in the illicit trade and other exhibits were recovered.
DSP Bala said that investigation was ongoing to ascertain the source of new notes and the suspects will be charged to court under Section 20 and 21 of the CBN Act 2007.
“It is a punishable offence under the CBN Act for any person or group of persons to hawk, sale or otherwise trade in the Naira notes, coins or any note issued by the Central Bank of Nigeria. Upon conviction, the offenders will be liable to imprisonment for not less than six months or a fine not less than N50,000 or both.”
The command also warned members of the public that spraying of Naira notes during events was a criminal offence as such offenders will be arrested and sent to prison.
He added, that it is important for members of the public to note that acts of spraying the Naira notes at occasions, soiling and writing on the Naira, squeezing the Naira, as well as hawking and selling of the country’s currency notes were abuses of the Naira and are punishable by law.
“We all have a duty to protect the Naira as our currency forms part of the symbols of our national identity.