Naira Notes Hawkers Arrested In Lagos, N2.4 Million Recovered

N2.4 million was recovered at the weekend after eight persons  were arrested for illegal sale of mint naira notes in the Ikeja area of Lagos.

The four men and four women were apprehended by undercover police operatives working together with officials of the Central Bank of Nigeria, CBN.

Those arrested were Mahmoud Ayoola, 42; Adetoro Adijat, 37; Eze Madu, 27; Olorunfunmi Shakirat, 38; Akonji Julius, 40; Olalekan Kadri ,23; Akinsonya Abiodun, 34 and Adeniyi Yetunde,  30.

Giving details of the arrest, Lagos State Police Command spokesman, DSP Elkana Bala, said:

“A cash sum of N2,440,550.00 mint of different denominations, used in the illicit trade and other exhibits were recovered. Investigation is ongoing to ascertain the source of the mints currency. The suspects will be charged to court under section 20 and 21 of the CBN Act 2007. 

“It is a punishable offence under the CBN Act, for any person or group of persons to hawk, sale or otherwise trade in the Naira notes, coins or any note issued by the Central Bank of Nigeria.

“Upon conviction  the offenders will be liable to imprisonment for not less than six months or a fine not less than N50,000 or both. 

“It is important for members of the Public to note that,  acts of spraying the Naira notes at occasions, soiling and writing on the Naira, squeezing, as well as hawking and selling of the country’s currency notes, are abuses of the naira and are punishable by law. 

“We all have a duty to protect the  Naira as our currency forms part of the symbols of our national identity. The Command thereby,  appeals to the General Public to report any person or group of persons seen abusing the Naira to the Police or any law enforcement agency”. 

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