CBN, NSCDC swoop on currency hawkers

…Arrest 10 suspects, to arraign them in court
…’Culprits risk 6 months imprisonment’
The officials of the Central Bank of Nigeria (CBN) and the Oyo State Command of Nigeria Security and Civil Defence Corps (NSCDC) have arrested10 persons for hawking and selling new naira notes.

The suspects paraded at the NSCDC Oyo State command headquarters, Ibadan, are Olanrewaju Adepoju, Obisesan Olalekan, Eniola Waheed, Kunle Oladipupo, Tijani Abiodun, Dotun Wahab, Gbenga Omawaye, Samson Ojewola, Akintola Gboyega and Anifat Abiodun.

Addressing journalists on the arrest, Commandant, Oyo NSCDC, Mr. John Adewoye, said the suspects were caught in the act during a two days sting exercise across various hotspots of the act in Ibadan.

He further disclosed that a total of N1, 010,040 consisting of various denominations was recovered from the suspects, adding that three of the sponsors of the suspects had also been arrested.

The operation, he said, was in line with the provisions of Section 20 and 21 (1) of the CBN Act 2007 which made hawking, selling and abuse of naira a punishable offence, such that those convicted were liable to a jail term of six months or fine of N50,000 or both.

Adewoye, who was flanked by Assistant Commandant General, NSCDC, Mr. Waheed Bamidele, gave the assurance that the arrested persons would be charged to court, while investigations were on to track the chain of godfathers behind getting the naira notes being hawked.

He said the NSCDC would be embarking on other sting operations to arrest abuse of the naira ranging from spraying at parties to soiling, writing on it, squeezing, handling and counterfeiting the notes.

One of those arrested, Wahab Dotun, said he had been in the business for eight years, operating at Agodi Gate area of Ibadan, while he got the funds from a supplier at Iwo Road.

Dotun added that for every N1, 000, which he bought at N1, 100, he made a gain of N100 by selling at N1, 200.