Police Commence Raids on Naira Traders

Police Commence Raids on Naira Traders

The Central Bank of Nigeria, Enforcement Committee on the Abuse of the Naira in collaboration with the FCT Police Command and Department of State Security Services on Friday 31st May, 2019 at about 1030hrs carried out joint raid at Dei-Dei under bridge where six persons were arrested for illegal Trading and Hawking of Nigeria Currency contrary to Sections 20 and 21 of the CBN Act, 2007.

2. The raid is part of the renewed effort of the Committee to enforce of the provisions of the aforementioned Sections of the Act, which prescribes the offence of selling, buying, spraying and squeezing of the Naira for which, six months imprisonment or an option of N50,000 fine or both are prescribed as penalty upon conviction.

3. Consequent upon the raid which recorded huge success with the recovery of the total sum of One Million, Nine Hundred and Forty- Eight Thousand Sixty Naira (N1, 948,060) from the six suspects arrested and others at large at Dei-Dei under bridge. The enforcement Committee wants to reiterate its unwavering stance and readiness to sustain its raiding of identified areas where the naira is being abused.

4. The suspects arrested and exhibit recovered are as follows:

SUSPECTS
i. Auwal Yunusa ‘m’ 22 years old
ii. Mohammed Auwal ‘m’ 20 years old
iii. Yusuf Shuaibu ‘m’ 31 years old
iv. Suleiman Saidu ‘m’ 38 years old
v. Usman Ibrahim ‘m’ 24 years old
vi. Mohammed Salisu ‘m’ 24 years old
EXHIBITS
One Million, Nine Hundred and Forty- Eight Thousand Sixty Naira (N1, 948,060) in the following denominations: N200, N50, N20, N10 and N5.

5. Effort has been intensified to arrest other suspects who escaped during the raid. The suspects and exhibits have been transferred to the Command Criminal Investigation Department for further investigation. The case will be charged to court upon completion of investigation.

CP Bala Ciroma
FCT Police Commissioner
Abuja