Police nabs illegal money traders in FCT

Posted by News Express | 3 February 2017 | 1,647 times

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Four persons have been arrested in the Dei Dei area of the Federal Capital Territory over allegations of involvement in the sale of the nation’s currency – the Naira.

Speaking at a meeting with officials of the Central Bank of Nigeria, the Commissioner of Police in charge of the FCT, Mr Muhammad Mustafa, said that over 1.7 million naira was recovered from the suspects. 

Their action contravenes the Central Bank of Nigeria act of 2007 which prescribes a six months imprisonment or an option of fine of 50,000 naira or both for the offense of selling, buying, spraying and squeezing the naira.

While this seems to be a major feat in guarding the nation’s currency, Central Bank officials said that the raid would continue.

They also promised to turn their searchlight on Nigerians who spray the nation’s currency at special functions such as weddings and parties.

The Police boss added that the suspects would be charged to court after investigation.

Meanwhile, Mr Mustafa also appealed to the residents who intend to embark on protest march in the city to seek approval before embarking on such. (Channels TV)

Source: News Express

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