The Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) has conducted a significant operation resulting in the arrest of eleven individuals suspected of engaging in currency racketeering. The arrests were made on Monday, February 19, 2024, following actionable intelligence that exposed a syndicate of fraudsters operating in close proximity to the Central Bank of Nigeria, Kano, along Lagos Street.
The apprehended individuals are believed to have been involved in the illicit sale of new Naira notes for commercial gain. Among those arrested were five members of the syndicate caught in the act of vending new Naira notes to the public. Additionally, six individuals, identified as bankers, were apprehended for their alleged participation in facilitating the distribution of Naira notes to the aforementioned sellers on a commission basis.
As part of our ongoing investigation, the suspects will be subjected to due legal process and are set to be arraigned in court upon the completion of our inquiries. This operation underscores our commitment to combatting financial crimes and upholding the integrity of the nation’s currency system.
