New Naira Notes: EFCC Arrests Money Hoarders In Abuja

Agents of the Economic and Financial Crimes Commission have detained members of a ring of currency racketeers who were selling and stockpiling the redesigned New Naira notes in Abuja.

Wilson Uwujaren, a spokesman for the EFCC, stated that the activities were conducted between Saturday, January 28, and Monday, January 30, in Zone 4 and the Dei Dei axis of the Federal Capital Territory.

The operation was carried out in response to information about the actions of dishonest currency speculators who were taking advantage of Nigerians by giving them the new naira notes for foreign currencies at a discount to the market rate.

Additionally, this comes just after the Department of State Security Service reported that its agents had detained some currency traders who had made a tidy profit on the selling of newly redesigned notes.