Home / News / NSCDC, CBN Arrest, Recover N1,010,040 From Naira Notes Vendors In Ibadan

NSCDC, CBN Arrest, Recover N1,010,040 From Naira Notes Vendors In Ibadan

The Oyo state Command of the Nigeria Security and Civil Defence Corps (NSCDC), in a joint operation with officials of the Central Bank of Nigeria (CBN), on Friday, stated that no fewer than ten suspects have been arrested in connection with illegal sale of Naira notes in Ibadan, the Oyo state capital.

According to DAILY POST, the arrest of the suspects was hinged on Section 20 of the CBN Act which empowered the apex bank to go against counterfeiting, hawking, selling or trading of the Naira notes, coins or any other note.

State Commandant of the NSCDC, Mr. John Adewoye, while parading the suspects at the Command’s headquarters in Ibadan, said the arrested persons, who were arrested during a raid on illegal Naira notes vendors, were apprehended between Thursday and Friday.

Those arrested include: nine males and a female.

The suspects, according to him, include: Dotun Wahab 34, Kunle Oladipupo 35, Tijani Abiodun 32, Eniola Saheed 22 and Olanrewaju Adepoju 35.

Others are: Obisesan Olalekan 31, Gbenga Omowaye 40, Samson Ojewola 24, Akintola Gboyega 31 and Anifat Abiodun 38.

Adewoye, who declared that investigations have commenced on the matter to ascertain the source of the Nara notes, remarked that a total sum of N1,010,40 was recovered from the suspects.

He said, “A total sum of N1,010,040 only consisting of various denominations was recovered from the suspects. Investigations have already commenced on the matter to ascertain the source or otherwise of the new Naira notes.

“The NSCDC and CBN will continue this clam-down on the perpetrators of this offence which is punishable under the CBN Act 2007. We assure you that the arrested persons would be charged to court as soon as investigations into the matter are concluded.

“For the avoidance of doubt, act of spraying the Naira notes at occasions, soiling and writing on it, squeezing as well as counterfeiting of the country’s currency notes are abuse of the Naira and are punishable by the law.”

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