In a significant crackdown on financial misconduct, the Economic and Financial Crimes Commission (EFCC) has apprehended a total of 11 individuals suspected of engaging in currency racketeering in Kano.
Operatives from the Kano Zonal Command executed the arrests on Monday, February 19, 2024, following intelligence that exposed a syndicate of fraudsters operating near the Central Bank of Nigeria on Lagos Street.
The syndicate, allegedly specializing in the illicit sale of new naira notes, had five of its members arrested while in the act of selling these notes to the public.
Shockingly, among those apprehended were six bankers believed to be facilitating the illegal transactions by selling the new naira notes to the syndicate on commission.
This operation comes as a result of the EFCC’s ongoing efforts to combat financial crimes and maintain the integrity of the nation’s currency.
The arrested individuals are expected to face legal consequences as the investigation unfolds, with their arraignment in court imminent.
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