DSS busts syndicates selling new naira notes

naira notes

New Naira notes

By Monday Ijeh

Nigeria’s secret police, the Department of State Services (DSS) said it has arrested many members of syndicates selling the new redesigned Naira notes at a premium to for the old ones across the country.

However, the secret police did not identify the locations where the suspects were arrested, or the amount involved in a statement issued to announce the arrest in Abuja on Monday.

In the statement issued by Dr Peter Afunanya, its Public Relations Officer, DSS said its investigations revealed that officials of some commercial banks were aiding the trade in the new currency.

DSS said the syndicates were intercepted by service personnel during an operation.

“Investigation has also shown that some commercial bank officials were aiding the economic malfeasance.

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“Consequently, the Service warns the currency racketeers to desist from this ignoble act.

“Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to expeditiously address the emerging trends,” he said.

He stated that the DSS has directed its commands and formations to take additional steps to identify all individuals and groups involved in the illegal sale of the notes.

As a result, the DSS spokesman urged anyone with information about the new currency’s sales to share it with the proper authorities.


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