Just In : EFCC arrests six suspected currency racketeers in Lagos
The Economic and Financial Crimes Commission has arrested six persons in Lagos over alleged involvement in currency racketeering and the sale of new naira notes for commercial purposes.
Its spokesperson, Dele Oyewale, disclosed this in a statement on Tuesday in Abuja.
According to him, the suspects are Adebayo Amupitan, Alimat Oyebode, Isiaka Yusuf, Adeoti Folake, Kafayat Yakub, and Bose Lateef.
They were arrested at various locations in Lagos, between February 16 and 17.
A total sum of N2,597,000 (Two Million Five Hundred and Ninety-Seven Thousand Naira) was recovered from them.
“Investigations showed that the suspects specialised in selling new naira notes of different denominations for commercial purposes and financial gain.
He said that the suspects would soon be arraigned in court.
Currency racketeering refers to illegal activities involving the manipulation, forgery, or fraudulent exchange of currency.
This can include activities such as counterfeiting money, engaging in illegal currency exchange operations, or participating in schemes to manipulate currency values for personal gain.
Currency racketeering is a form of financial crime and is often associated with organised crime networks or individuals seeking to profit through illicit means.
(NAN)
