NSCDC Arrests 5 Over Illegal Sale Of New Naira Notes, Confiscates N20.6m In Kano

The Nigeria Security and Civil Defence Corps has arrested five persons over the alleged unlawful sale of naira notes at strategic places in Kano.

The NSCDC said the arrest was made possible with the collaboration of the Department of State Service (DSS) and the staff of Central Bank of Nigeria (CBN) that led to the confiscation of twenty million, six hundred and fifty-nine thousand nine hundred and sixty naira (N20.6M).

A statement issued by Public Relations Officer NSCDC Kano command, ASC Ibrahim Idris Abdullahi and sent to Solacebase on Wednesday said the raid on the vendors took place on Thursday and Friday 8th and 9th of August 2019.

It said their action is against section 20 and 21 of the CBN’s Act making such market unlawful.

‘’Squeezing, soiling and writing on the naira notes have been treated by this section as an abuse of the naira with a punitive price of six-month imprisonment,’’ said the statement.

The command said the exercise will be sustained to check the activities of illegal marketers of new naira notes.

It noted that the arrested persons would be charged to court as soon as investigations are concluded.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.