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EFCC arrests three for currency racketeering

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Naira now exchange for N364 to a dollar Budgeting Tips Money currency racketeering

The Kaduna Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested three persons in connection with suspected currency racketeering.

The suspects: Musa Gideon, Abdul Seidu Adamu and Justine Musa were arrested along Yakubu Gowon way, Kaduna on Wednesday, February 7, 2024 while trying to sell new naira notes to an EFCC’s undercover operative.

The operative, a member of the Special Task Force set up for the enforcement of extant laws against currency racketeering, mutilation and dollarization of the economy by the EFCC chairman, Ola Olukoyede, functioned in a sting operation carried out by the Team.

The operation yielded the arrest of the three suspects selling new and old naira notes to the tune of N1,307,400 (One Million Three Hundred and Seven Thousand, Four Hundred Naira) and many Automated Teller Machine, ATM, cards.

The suspects would be charged to court as soon as investigations are concluded.

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