The Uyo Zonal Command of the Economic and Financial Crimes Commission (EFCC) has detained an individual identified as Simon Bassey Idio on charges of currency racketeering in Uyo.
The apprehension of the 59-year-old, known as the ‘Naira Trader,’ occurred on Friday, February 9, 2024, at the Ibom Tropicana Mall on Udo Udoma Way in Uyo, Akwa Ibom State. The arrest transpired subsequent to diligent intelligence gathering and surveillance regarding his involvement in illicit cash transactions, encompassing both local and foreign currencies, within the state.
During the operation, Idio was found in possession of a substantial sum amounting to N700,000.00 (Seven Hundred Thousand Naira), comprised of twelve bundles of N500 notes totaling N600,000.00 (Six Hundred Thousand Naira), and a bundle of N1000 notes amounting to N100,000.00 (One Hundred Thousand Naira).
Following his arrest, Idio has reportedly confessed to the allegations leveled against him. Legal proceedings are imminent as the EFCC intends to pursue charges against him in a court of law.
The EFCC continues to maintain vigilance and undertake robust measures to combat financial crimes across the nation, with a commitment to upholding the rule of law and ensuring accountability in the financial sector.
