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.

Kola Shittu     Jimoh Saadudeen Muhammed     Toyin Olayinka Tejidini     Michael Nzwekwe     Samuel Elizabeth Keatswa     GANZY     Tafida     Public Holiday     Rueben Parejo     Olufolake Abdulrazaq     Clement Yomi Adeboye     Igosun     Tanke Flyover Bridge     NULGE     Kwara TV     T And K FOODS     Post-utme     Coronavirus     Road Transport Employers Association Of Nigeria     Omupo     All Peoples Party     Omoniyi Ayinla     Sa\'ad Alanamu     Code Of Conduct Bureau     Al-Adaby     Mohammed Danjuma     Lawal Olohungbebe     Yakubu Danladi     Olayinka Oladapo Jogunola     Kwara State Printing And Publishing Corporation     KWASSIP     Unicontinental Construction Company     Buari Edun     TIC     Oni Adebayo     Ile Arugbo     Onilorin Of Ilorin     Yekeen Alabi     Aliyu Kora-Sabi     Omu Aran     Gobir Organization Foundation     Ajasse-Ipo     Kudirat Arinola Lawal     Salman Alada     Abubakar Lah     Aliyu Adebayo     Amina Susa\'a De Ahmed     Ibrahim Abikan     Rice Farmers Association Of Nigeria     Rafiu Olasile     Code Of Conduct Tribunal     Abiodun Abdulkareem     QuickWin     Ahmed Dankaya     Kisra     Bio Ibrahim     Nigerian Medical Association     International Aviation College     Abdulrauf Yusuf     Kwasu     John Olajide Adedipe     Local Government     Toyin Falola     Trader Moni     Kayode Oyin-Zubair     David Oyerinola Adedunmoye     Taofik Abdulkareem     ASKOMP     Hijaab     Abdulkadir Jimoh     Kale Belgore     Ibrahim Bio     Abdullahi Samari     Tinubu Legacy Forum     Idi-Ape     Abdullah Janet Amudat     AbdulRazaq Abubakar Jiddah    

Cloud Tag: What's trending

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

Yusuf AbdulRasheed     IESA     Suleiman Yahya Alapansapa     Abdulraufu Mustapha     Ijakadi     Kwara Basketball Association     Cassava Growers\' Association     ANCOPPS     Al-Hikmah University     Aisha Gobir     Oniyangi Kunle Sulaiman     Valsolar     New Naira Notes     Abdulmumini AbdulRazaq     Mashood Abdulrafiu Agboola     Jimba Babatunde     National Information Technology Development Agency     07039448763     Dunmade     Dagbalodo     Tanke     Madawaki Of Ilorin     Aminu Ado Bayero     AbdulQowiy Olododo     Ajia-Bako     Aisha Ahman-Pategi     Yashikira     Abdulkarim Adisa     Busari Toyin Isiaka     Abdulrazak Shehu Akorede     Ayo Adeyemi     Durosinlohun Atiku     CT Ayeni     Senate Presidency     Communication Network Support Services     Seed Technologies     AbdulGaniyu Kareem     Kayode Yusuf     Wahab Olasupo Egbewole     NIPR     Harmony Holdings     Raymond Olaitan     Oba Abu     SSA Youth Engagement     Muslim Cementary     Pategi     Bisi Oyeleke     Iyaloja-General     Kola Shittu     Rihanat Ajia     Kunle Akogun     Elerin Of Adanla     Dairo Kunle Paul     Naira Redesign     Abdulrasaq Alaro     SWAN     Baba Idris     Babatunde Idiagbon     Shehu Alimi Foundation     Abdulkadir Jimoh     Sabitiyu Grillo     Anilelerin     Ileloke     Hussein Oloyede     Abubakar B.M     Ajidagba     Abdulmumini Jawondo     Binta Abubakar-Mora     KWASIEC     Rasheed Jimoh     Babatunde Ajeigbe     Arinola Lawal     UNIFEMGA     Kwara South     Zainab Abass     Ayotunde Emmanuel Alao     Abubakar Ndakene