Kwara police arrests 13 for illegal trade in naira

Date: 2018-12-04

The men of Kwara State Police command have arrested 13 people for alleged illicit sales of Nigerian currency notes.

The suspects, among whom were three females, were rounded up by policemen at the Oja Tuntun area of Ilorin, the state capital on Friday.

The suspects are staff of Lasoju Printing Press, situated at Oja Tuntun area, belonging to a certain Alhaji Abdulrasaq Lasoju.

Parading the suspects at the state police headquarters, the state Police spokesperson, DSP Ajayi Okasanmi noted, the security agency is working in collaboration with the Central Bank of Nigeria(CBN) in fighting the illegal sales of naira notes.

He stressed that it is criminal to hawk, sell or trade in naira notes and coins issued by the apex bank, saying, "it is contrary to the CBN Act section 20 and 21, which makes the selling or trading in Nigeria currency a punishable offence."

He said that the police recovered from the suspect's huge amount of money consisting of various denominations during the arrest.

"Investigation into the matter is ongoing to ascertain the source or sources of the naira notes," he added.

The spokesperson vowed that the police and the CBN will continue the clamp down on perpetrators of the offence, which is punishable by law.

"Members of the general public are hereby warned against spraying of naira notes at occasions, soiling, writing on the naira, squeezing and all other abuses of the Nigerian currency.

"They should desist from acts of abuse of the naira as the currency is one of the symbols of Nigeria's identity," Okasanmi noted.

He disclosed that the suspects will be charged to court upon conclusion of investigation into the matter.

However, while fielding questions from newsmen, one of the suspects, Abdulkareem Adebayo said their company deals in changing naira notes for clients.

"It is my boss' business. Some of those arrested do not work with us; they were at our office to change their money to new naira notes.

On how they transact business, Adebayo explained that they charge N300 over every N1,000 they change into new N50 notes.

The suspect who claimed not to have knowledge of the source of the money, said he left Lagos, his former base for Ilorin to join the business.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Umar Bayo Abdulwahab     Afolabi-Oshatimehin     Nupe     Joseph Offorjama     Oba Mogaji Abdulkadir     Mamman Saba Jibril     Sheu Ndanusa Usman     Oke-Ogun     Lola Olabayo     Mohammed Yahaya Barki     Kwara 2015     Tosho Yaqub     Folaranmi Aro     Ahmad Uthman     Ibrahim Kayode Adeyemi     Agboola Abdulraheem     Ajibike Katibi     Hamidu Olowo     Aremu Bose Deborah     Sanitation Exercise     John Kehinde Salako     James Kolo     Tsaragi-Share     Kayode Issa     Moses Rahman Popoola     Azeez Bello     Niyi Osundare     Tunji Arosanyin     Ibrahim Mashood     Mubarak Oladosu     Akorede     Tafida     Omotosho     Labour Party     Kazeem Adekanye     Bio Ibrahim     AIT Ilorin     Oba Sulaiman Asude     Esuwoye     CCEPE     Kolawole Akande     Jaiz Bank     Abdulahi Abubakar Bata     CACOVID Palliatives     Adolescent Girls Initiative For Learning And Empowerment     Abdulhakeem Adelaja Amao     Offa Grammer School     Bank Of Industry     Radio Kwara     Saidu Kawu     Taiwo Joseph     Abubakar Atiku     Kolade Solagberu     United Nigeria Airline     Mohammed Katsina Ahmed     Bashir Badawi     National Association Of Nigerian Students     Gafaru Olayiwola Olorisade     Ishola Moses Abiodun     Sa\'adu Salahu     Women Radio     Olugbense     Riskat Opakunle     Wasiu Odewale     Jumoke Monsura Gafar     New Naira Notes     Oko     Haruna Olawale Sulaiman     Kwabes     Just Event Online     SDP     Orisun Igbomina     Umar Ayinla Saro     Ilorin Anchor Men And Women     Abdulkadir Orire     Olofa Of Offa     Ayo Adeyemi    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Akande Idowu Ayoola Muhammed     Trader Moni     Towobola Abdulrahman Toyin     Agor     John Olobayo     Oba Abdulraheem     Abdulraheem Olesin     Ilorin     A.O. Belgore     EndSARS     Ahmed     Idowu Aremu     Saka Asiat Ayinke     Sulyman Atolagbe Alege     Abdulkadir Remi Hawawu     Sambo Murtala     Mufutau Gbadamosi Esuwoye     Mary Kemi Adeosun     Olatunde Michaels     Kwara Basketball Association     Arandun     Ahmed Bayero     Lawan     Elections     Aro Yahaya     Baba Issa     Federal Neuro-Psychiatric Hospital     Minister     Oba Abdulrahim     Shaykh Luqman Jimoh     Ahmad Olayiwola Kamaldeen     Hassan Saliu     Offa Grammer School     Yusuf Ali     Tsaragi/Share     Trade Lenda SME Fair     Quareeb     Imam Gambari     IF-K     Kayode Oyin-Zubair     Susan Modupe Oluwole     Dogara     Jimoh Saadudeen Muhammed     CUTI     John Mayokun Dada     General Tunde Idiagbon International Airport     AbdulHakeem Ajibola Akanbi     Joseph Daudu     Odo-Owa     Shonga     Basic Education Certificate Examination     April 11     Kolade Solagberu     Forgo Battery Company Limited     Rotimi Atere     2017 Budget     AbdulFatai Adeniyi Dan-Kazeem     Joana Nnazua Kolo     Pakata Patriots     Sulyman Buhari     Ado Ibrahim     Afin Descendants Union Of Odo-Owa     Lola Olabayo     Babatunde Ajeigbe     University Road     Mike Omotosho     Abdulrasheed Na\'Allah     Chief Imam Of Offa     Mohammed Lawal Bagega     Ilofa     Dapo Teni Nig Enterprise     Yusuf Aiyedun     Samuel Elizabeth Keatswa     Ola Falade     Olabode George Towoju     NIPOGA     Abubakar Bature Sulu-Gambari