Four arrested for trading in new naira notes
Four persons allegedly involved in the illegal trading of crisp naira notes have been arrested with a sum of N759,200.
The suspects – Akeem Adeyemi, 40; Rasheed Ajibade, 34; Aisha Babatunde, 28 – were apprehended in Ojuelegba and Tinubu Square, Lagos Island, by a team of the police, Department of State Services and Central Bank of Nigeria officials.
PUNCH Metro learnt that the team had raided the areas on Tuesday to crackdown on those who exchanged mint naira notes to people at certain percentage interest.
They were paraded on Wednesday at the Lagos State Police Command headquarters in Ikeja.
Babatunde, a Kwara State indigene, said she started ‘the business’ last year with N50,000, adding that she got the crisp notes from some agents in the Ijora area of the state.
She said, “My friend introduced me to the business. I started with N50,000 new notes supplied to me by someone. I usually make between N2,000 to N3,000 from the sale of N20,000 new notes and 5,000 from N50,000. I don’t know how the money is sourced. I’m only a merchant. I get the notes in Ijora.”
Ajibade, who was arrested at Tinubu Square, stated that he invested N200,000 in the illegal trading and that unemployment drove him into the act.
“We don’t get the new notes from banks directly. Some people come around to sell to us,” he added.
Adeyemi, an Oyo State indigene, said he took to the business four years ago after his wares displayed by the roadside were seized.
The Lagos State Police Public Relations Officer, SP Chike Oti, who paraded the suspects, said the arrest was made based on the CBN’s Act which disallowed the sale of naira notes.
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He said, “Four suspects comprising three men and a woman were arrested at Ojuelegba and Tinubu Square, Lagos Island, during a raid supervised by the Commissioner of Police, Edgal Imohimi.
“A total sum of N759,200 consisting of various denominations were recovered from the suspects. Investigations have already commenced to ascertain the source of the new naira notes. The suspects will be charged to court upon the conclusion of investigations.
“Acts of spraying the naira notes at functions, soiling, squeezing, hawking or writing on them are abuse of the currency and are punishable. We appeal to the public to desist from abusing naira as it is one of the symbols of identity.”
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