CBN, police clamp down on new note vendors in Lagos

• Parade 12 women arrested while hawking naira notes at parties

In a fresh bid to end the abuse of currency in the country, the Central Bank of Nigeria (CBN) in collaboration with the police have begun a major onslaught against naira abusers, arresting no fewer than 12 vendors in Lagos.

The vendors, all women, were apprehended at different parts of the metropolis selling naira notes to party lovers and socialites. The suspects were arrested during a raid carried out by officials of the CBN and operatives of the State Criminal Investigation and Intelligence Department (SCIID), Panti-Yaba.

They were alleged to be involved in the sale of new naira notes, an offence that contravenes Section 21 of the CBN Act, 2007. Among the suspects were Fausat Jimoh, Bisoye Oyegbile, Balikis Ajadi, Bisola Amoru, Abidemi Oladejo and Ajoke Suraj, alleged to have sold mint notes at social events.

Parading the suspects, the Deputy Commissioner of Police (DCP) in charge of State Criminal Investigation and Intelligence Department (SCIID), Bolaji Salami said six others were apprehended penultimate weekend.

“We are clamping down on those abusing our currency. It is an offence to sell naira notes at weddings or any gathering. It contravenes the CBN Act. We arrested six suspects the previous weekend and today (Friday), we have arrested six others.

“We recovered N35,500 from these suspects but N465,000 was recovered from those arrested last week. They would be charged to court as soon as possible.

“Investigation would reveal how these suspects come about these new currencies. We are going to get to the root of it because the offence is punishable by a N50,000 fine or six months imprisonment, or both.

“No good country would allow its currency to be abused in anyway. That’s what we are guarding against. The CBN is out to enforce the law and we would give them the necessary backings.”

An official of the CBN who refused to be named disclosed that the apex bank was targeting its workers and Deposit Money Banks (DMB), as those fueling the illicit trade. Besides going after the vendors, he stated that CBN would clampdown on celebrants in whose venue the naira merchants are found.

He said: “We know that these are not the real targets because if they don’t get the mint notes, they won’t be able to sell it. So, our main targets are commercial banks and even our workers who release this money to these vendors. Once these suspects confess and mention their names, we would go after them.

“We are also going to start arresting Nigerians who organize events and allow those selling naira notes at their venues. Already, we have started arresting people who spray money at social events. Sanity must return to our system and our currency must be respected.”

Admitting to the crime, Agadi said low patronage of her hair dressing business pushed her into it. She claimed that she usually made N200 on each bundle of mint notes.

Oyegbile, who was arrested at Agbado, disclosed that N37,500 was collected from her, an amount higher than the total recovery announced by the police. Asked how she got the notes, she said one Abdulahi usually supply her, adding that some of her colleagues get theirs from banks.