Suspected currency racketeer cracked in Uyo


The suspect, Idio arrested by the EFCC

Operatives of the Uyo Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested one Simon Bassey Idio for currency racketeering in Uyo.

The 59-year old ‘Naira Trader’ was arrested on Friday February 9, 2024, at the Ibom Tropicana Mall , Udo Udoma way in Uyo, Akwa Ibom State.

A statement from the EFCC‘s spokesman, Dele Oyewale, said Idio’s arrest came on the heels of intelligence and surveillance regarding his illegal cash dealings in local and foreign currencies within the state.

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Oyewale said he was caught selling N700, 000.00 new naira notes in two denominations: twelve(12) bundles of N500 notes totaling N600, 000.00 (Six Hundred Thousand Naira) and a bundle of N1000 notes N100,000.00 (One Hundred Naira).

He said Idio confessed to the crime and would be charged to court soon.

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