Police arrest six suspected illegal money traders in Abuja

Operatives of the Federal Capital Territory (FCT), Police Command have arrested six suspects for illegally trading in different naira denominations.

The suspects are: Auwal Yunusa, 22; Mohammed Auwal, 20; Yusuf Shuaibu, 31; Suleiman Saidu, 38; Usman Ibrahim, 24; and Mohammed Salisu; 24.

Their arrest on Friday followed a joint raid carried out  in Dei-Dei area of Abuja, by the Central Bank of Nigeria Enforcement Committee on the Abuse of the Naira, the FCT Police Command and Department of State Security Services.

The Police recovered from them N1,948, 060 in 200, N50, N20, N10 and N5 denominations.

The police in a statement said: “ On 31st May, 2019 at about 1030hrs, the police 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.

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“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.

“Consequent upon the raid which recorded huge success, the total sum of N1, 948,060 was recovered from the six suspects arrested and others at large at Dei-Dei under bridge.”

The Police said added that the suspects and exhibits had been transferred to the Command Criminal Investigation Department for further investigation.

It also disclosed that the case will be charged to court upon completion of investigation.