Members of a syndicate of currency racketeers hoarding and trading with the redesigned Naira notes have named officials of banks that sell the new naira notes to them.
Acting on the tip-off, the Economic and Financial Crimes Commission (EFCC), plans to meet with officials of deposit money banks to fish out those involved in the illicit act and also to discuss the steps to be taken to address the menace.
The EFCC on Monday said in separate operations in the Zone 4 and Dei Dei axis of the Federal Capital Territory on Saturday, January 28, and Monday, January 30, 2023, it nabbed members of a syndicate of currency racketeers hoarding and trading with the redesigned Naira notes.
The operation, according to the anti graft agency, 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 the suspects have made useful statements, including disclosure that they were acting in cohort with some unscrupulous officials of Money Deposit Banks.
“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.
“Zonal Commanders of the EFCC today, also met with officials of various banks in their Commands 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”, the EFCC said.
The Department of State Services, DSS, also on Monday arrested some members of an organised syndicate selling the new naira notes in parts of the country.
Although the DSS did not disclose the names and locations of the suspects, the agency said in a statement yesterday that some commercial bank officials were aiding and abetting the act.
A statement signed by the Public Relations Officer of the DSS, Dr. Peter Afunanya, warned that the secret police will go after those involved in the malfeasance.
The statement read: “The Department of State Services, DSS, hereby informs the public that it has intercepted some members of organised syndicates involved in the sale of the new re-designed naira notes.
“In the course of its operations, in this regard in parts of the country, it was also established that some commercial bank officials are aiding the economic malfeasance.
“Consequently, the Service warns the currency racketeers to desist from this ignoble act. Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to expeditiously address emerging trends.
“It should be noted that the Service has ordered its commands and formations to further ensure that all persons and groups engaged in the illegal sale of the notes are identified.
‘’Therefore, anyone with useful information relating to this is encouraged to pass the same to the relevant authorities”.