Police arrest 7 for sale of Naira notes, confiscate N4m

The Police in Anambra State have arrested seven persons in Onitsha and it’s environ for hawking and selling naira notes.

Commissioner of police in Anambra State, Mr Garba Umar who paraded the suspects before journalists, said the suspects were engaging in an act that was illegal and punishable under the Central Bank of Nigeria act.

Umar said the suspects were arrested in a sting operation, after officials of the CBN complained about the activities of the hawkers.

He said, “The Purpose of this briefing is to inform you on the arrest of persons over illegal sale and hawking of Naira notes(Mint).

“On Wednesday, December 20, 2017, at about 1300hrs the Command in collaboration with the Department of State Security (DSS) and the Central Bank of Nigeria (CBN) carried a sting Operation, aimed at forestalling illicit sale of Naira Notes(Mint).”

He said the clamp-down on the suspects was hinged on the CBN Act, section 20 and 21, in which Section 20 sub section 4, makes it an offence punishable by a term of imprisonment not less than five (5) years for any person to falsify, make or counterfeit any Bank Notes or coin issued by the Bank.

Umar who quoted the act said, “section 21 sub section 1, makes it an offence punishable by a term of imprisonment of not less than six (6) months or a fine not less than fifty thousand naira (₦50,000.00) or both for any person to hawk, sell or otherwise trade in the Naira Notes, coins or any other notes issued by the Bank.”

The seven suspects were arrested at Ogbogwu and Building materials Market in Onitsha while two others who were also engaged in the sale were at large.

The arrested suspects include; and Clementina Uche, Emeka Iyida Wilfred, Anthony Onyebuchi, James Odumodu, Petercross Olabuche, Apeh Ekene and Valentine Ekwueme.

Four Million, Three and four Thousand, five hundred and fifty Naira (₦4,304,550.00) were recovered from the suspects, most of which were new notes and others in small bills.

Umar said the command would charge them to court as soon as investigations were concluded.

He reminded the general public that the acts of spraying Naira notes at occasions, soiling and writing on it, squeezing it was punishable.