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.

Toyin Sanusi     Raheem Adaramaja     Abdulrahman Onikijipa     Bamidele Adegoke Oladimeji     Oyawoye     Kunle Akogun     Isiaka Danmeromu     Sola Saraki Educational Foundation     CACOVID     Aremu Bose Deborah     The Herald     Habeeb Saidu     Dan Masanin     JAAC     Abdulrasheed Na\'Allah     Yahya Mohammed     Muritala Awodun     Mubarak Oladosu     FERMA     Haruna Tambiri Mohammed     Kazeem Gbolagade     Sarkin Malamai     Gaa Olobi     AbdulRazaq Jiddah     Kwara Teaching Service Commission     Kwara Pdp     Kwara South     Sheikh Ridhwanullah El-ilory     Adamu Jemilat-Baki     Lukman Adeloyin     Bamidele Aluko     Iyabo Adewuyi     Y.A. Abdulkareem     Omar Bolaji Gambari     Tunji Olawuyi     Yoruba     Razak Atunwa     A.G.F Abdulrasaq     Unilorin FM     Ita-Nmo Market     Isiaka AbdulRazaq     Emir Of Ilorin     Oro Grammar School     Sheikh Ariyibi     Kayode Oyin-Zubair     ITP     Ibrahim Taiwo     Abdulmajeed Abdullahi     Abubakar Usman Jos     Arik     Mutawali     Olushola Saraki     Ibrahim Abduquadri Abikan     Abdulmalik Bashir Mopelola Risikatullahi     Yomi Adeboye     Theophilus Oyebiyi     Ndama Al-hassan     Adeniyi Ojo     Vishvas KOZ Tractors     Babatunde Ishola Babaita     Abdulrahman Abdullahi Kayode     Joseph Yemi Ajayi     Alapado     Overland     Isiaka Oniwa     NITDA     Twitter     Doyin Awoyale     Wahab Egbewole     Nurudeen Mohammed     Tayo Alao     REO CAKES     Kisra     Harrison Osauwagboe     Amuda Bembe     Ganiyu Taofiq     BIR    

Cloud Tag: What's trending

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

Okedare     Saka Onimago     Bukola Saraki     YAKOOYO     Valsolar Consortium     Presidential Election     Iyabo Adewuyi     Ahmed Dankaya     Abdulrasheed Lafia     Okin High School     IsDB     Lawyers Unite Against Corruption     IEDPU     Olohungbebe     Jebba     Ibrahim Mohammed     Al-Hikmah University     Usman Rifun     Saad Omo\'ya     Hijab     Tafida Of Ilorin     Nupe     Isiaq Khadeejah     Omotosho     John Obuh     Gani Saadu     Ajase-Ipo     Abdulmutalib Shittu     KWSUED     Kwara State University Of Education     Salman Alada     Gbenga Olawepo     Raliat Elelu-Habeeb     Balogin Alanamu     Salaudeen Oyewale     Funmilayo Zubair     Tsaragi-Share     Afeyin-Olukuta     Sardauna     Leke Ogungbe     Otunba Taiwo Joseph     SUBEB     Laboratory-to-Product     Amos Bajeh     Saraki     Ado Bayero     Mahfouz Adedimeji     International Aviation College     Shoprite     Taiwo Joseph     Village Alive Development Association     Ishaq Oloyede     Garuba Alikinla Shittu     Galadima     Moses Afolayan     Idowu Aremu     Olaiya Lawal     Mansur Alfanla     Atiku Abubakar     Elerin Of Adanla Irese     Justina Oha     Okin Biscuit     Sulyman Abdulkareem     Mohammed Yisa     Mutawali Of Ilorin     Isaac Aderemi Kolawole     Adaramaja     Joseph Offorjama     Federal Allocation     Sabi     Shonga Farm Project     Yeketi     Razaq Atunwa     Abdulwasiu Bolaji Adeyi     Wakilin Mata Lafiagi     QuickWin     Akume