Currency Racketeers

The Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) has apprehended 11 individuals suspected of involvement in a currency racketeering scheme. The arrests, made on Monday, February 19, 2024, followed intelligence uncovering a syndicate operating in Kano.

According to a statement released on Saturday by the agency’s Head of Media and Publicity, Dele Oyewale, five members of the syndicate were caught red-handed selling new naira notes to the public. Additionally, six individuals, allegedly linked to the banking sector, were arrested for facilitating the sale of these notes to the sellers on a commission basis.

The EFCC stated that upon the completion of investigations, all 11 suspects will face legal proceedings in court.

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