The Economic and Financial Crimes Commission (EFCC) has nabbed members of a syndicate of currency fraudsters, hoarding and trading with redesigned naira notes.
EFCC Spokesman, Wilson Uwajaren, said that the arrest happened in separate operations in the zone 4 and Dei Dei axis of the federal capital territory, explaining that the operation followed intelligence on activities of currency speculators who were exploiting desperate citizens by offering them the new naira notes for foreign currencies at below the normal rate.
The commission therefore vowed to extend the operation to all the major commercial centers of the country until all the syndicates involved in the illegal trade are demobilized, warning financial system operators to desist from the illegal practices or risk arrest and prosecution.